Prices hold firm as financial markets recover a little

Gas prices held firm at the NBP on Friday, with subtle gains of no more than 1p/therm (0.034p/kWh) posted across the majority of curve contracts when compared to their previous close.

The Winter 25 frontseason contract registered net weekly losses of approximately 4p/therm (0.14p/kWh), likely due to underlying pressure from weakness across global markets in response to the Trump administration’s ‘Liberation Day’ tariffs.

Friday trading erased some of this bearish momentum as energy markets lifted in response to a rebound in financial markets.

According to data from S&P Global, the S&P 500 index recovered 1.81% of its value compared to its previous close. This recovery may have subsequently supported the wider energy complex as fears of a global economic slowdown eased.

ICE data shows that the Brent Crude and Carbon EUA benchmarks rose by 2.3% and 4.3% respectively, adding support to contracts further out.

This morning, the market has opened slightly higher once more, with the both the front-month and front-season contracts being offered circa 0.5p/therm (0.017p/kWh) higher when compared to their previous settlement at time of writing.

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Price commentary courtesy of Crown Gas and Power