Gas and Power
| Power and gas prices closed at their lowest level of the month on Friday after news emerged that the US and Russia were planning a deal to secure territory in Ukraine, with a summit potentially as early as this week. The absence of new US sanctions, despite Friday being the deadline for Russia to agree to a ceasefire, eased market concerns and fuelled hopes for constructive talks in the days ahead. | |||||
| Adjacent Markets | |||||
| Equity markets rose last week, showing resilience despite the implementation of US tariffs. Investors responded positively to a series of key information, including strong corporate earnings results, retail sales data, and a rate cut from the Bank of England. In contrast, oil prices experienced their sharpest weekly decline in over a month, falling by approximately 5% as concerns over potential Russian sanctions eased amid reports of a forthcoming meeting between President Trump and President Putin. | |||||
| NBP (p/therm) | UK Base (£/MWh) | ||||
| Close | Day on Day | Close | Day on Day | ||
| Sep-25 | 79.32 | -1.87 | 77.29 | -0.86 | |
| Oct-25 | 80.14 | -1.95 | 74.04 | -1.16 | |
| Nov-25 | 86.80 | -1.75 | 84.98 | -0.43 | |
| Q4-25 | 85.77 | -1.83 | 81.43 | -0.87 | |
| Q1-26 | 89.97 | -1.70 | 84.96 | -0.70 | |
| Q2-26 | 80.31 | -1.51 | 72.63 | -0.88 | |
| Win-25 | 87.86 | -1.76 | 83.11 | -0.86 | |
| Sum-26 | 79.61 | -1.44 | 71.97 | -0.63 | |