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The market saw notable divergence between prompt and forward contracts. Spotgas eased to a three-week low through the week as Norwegian maintenancebegan unwinding, the Ichthys LNG strike was averted following progress in paynegotiations, and a record UK May heatwave drove demand destruction with solargeneration running near maximum (the UK recorded its hottest May day ever…
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Energy MarketReport26th May 2026The market saw a clear split between prompt and forward contracts. Spot powerdropped sharply mid-week on warm weather and strong renewables, with frontmonth June and July gas also falling around 5% on the same fundamentals.Forward contracts eased too but more modestly, supported by Norwegian supplyoutages, the Ichthys LNG strike threat and the…
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18th May 2026The curve firmed across the week, with the front end leading sharply and longerdated contracts edging up more modestly. The near term firmed hardest as USIran negotiations deadlocked, with Trump rejecting Iran’s response to USproposals as unacceptable and the Strait of Hormuz remaining largelyinaccessible despite limited vessel transits.Cold temperatures across Europe kept heating…
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Energy MarketReport27th April 2026UK gas and power firmed through the week as supply constraints and weakerrenewables tightened the prompt and lifted forward contracts. Norwegian flowswere the key driver, with aggregated outages at Troll, Kollsnes and related assetsreducing pipeline supply to the UK alongside lower Langeled nominations.UK wind output dropped sharply mid-week and was forecast to…
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Energy MarketReport20th April 2026The US naval blockade of Iranian ports took effect last Monday, triggering a sharpmove higher in spot power and a rise in Brent, though forward gas and powercontracts moved far less as the market had already priced in much of theescalation risk.Warm weather, strong solar and wind running above seasonal norms then…
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The two-week ceasefire announced earlier this month triggered a sharp sell-off onhopes of de-escalation, but the market stayed cautious as no LNG tankers wereconfirmed transiting Hormuz and Iran continued to restrict traffic.Prices crept back up through the second half of the week as the fragility of thetruce became clear, with carbon also adding support after…
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The conflict escalated sharply as fresh Iranian missile strikes on RasLaffan destroyed two of Qatar’s 14 LNG trains, with QatarEnergyconfirming 17% of export capacity will be offline for three to five years,a structural loss of 12.8 million tonnes per annum now priced acrossthe entire forward curve. UK gas surged past 150p per therm, up over120%…
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2nd February 2026Over the past week, UK wholesale energy prices weremixed, with gas edging higher while power softenedslightly, reflecting a cautious but reactive market. Theuplift in gas was driven by short-term supply andweather risk, including LNG uncertainty and ongoingtrader repositioning, while electricity prices weretempered by periods of stronger renewable output.Overall volatility remained concentrated in near-termcontracts,…
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Latest Energy wholesale pricing trends Energy MarketReport19th January 2026Wholesale energy has risen this week, mirroringupward moves in gas markets as cold weatherforecasts, tighter generation margins and stronger fuelprices filter through to near-term contracts.Heightened global tensions tied to Iran’s internalinstability and uncertainty around Arctic geopoliticsinvolving Greenland, which have contributed to boutsof volatility in oil and commodity…
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