Wednesday 26th August

Prices fall as geopolitical tensions ease on hopes of mediation
Wednesday 26th August
  • Aug 26, 2026, 9:18:37 AM
  • 1 minute read
 

Prices fall as geopolitical tensions ease on hopes of mediation

 

Gas and power

Prices fell on Tuesday to hit a new low for the week. Geopolitical concerns eased following indications that the US was open to discussions about the newly imposed sanctions. Reports that Pakistan is helping to mediate diplomatic efforts to prevent further escalation also helped ease tensions. European storage levels hit 62% across the EU compared to almost 75% at the same time last year, with the continued lack of Qatari LNG the major factor.

Adjacent markets

 Oil prices traded lower yesterday, falling to weekly lows as investors appeared largely unfazed by the latest US sanctions on Iran, suggesting the measures were less severe or impactful than initially feared. Equity markets reacted similarly, with UK and European indices closing higher amid the relatively subdued response to the sanctions. European sentiment was further supported by an improvement in the IFO business sentiment survey and data showing continued German GDP growth. 

Closing prices

 

NBP (p/therm)

  

UK Base (£/MWh)

  
 

Close

Day on Day

Close

Day on Day

Sep-26

162.73

-5.07

129.74

-1.29

Oct-26

163.77

-5.02

129.00

-3.64

Nov-26

167.57

-4.54

140.02

-3.55

Q4-26

166.94

-4.66

135.54

-3.88

Q1-27

163.20

-4.78

135.57

-2.38

Q2-27

109.60

-1.93

93.64

-1.23

Win-26

165.09

-4.72

135.59

-3.06

Sum-27

105.76

-1.93

90.60

-1.3

Win-27

103.06

-1.37

91.44

-0.73

Sum-28

72.72

-1.41

66.84

-0.66

Win-28

79.65

-0.74

74.86

-0.69

 

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