NBP gas prices increase amid renewed Russian attacks in Ukraine

NBP gas prices rebounded sharply on Friday amid renewed Russian attacks on Ukrainian energy infrastructure.

Bullish sentiment was strongest at the front end of the curve, with the Summer 25 front-season contract posting daily gains of approximately 5p/therm (0.17p/kWh) when compared to its previous close.

Reports of widespread Russian missile and drone attacks on Ukrainian electricity and gas assets emerged during morning trade.

These attacks came just days ahead of renewed peace talks with the US in Saudi Arabia on Tuesday, 11th March.

A delegation of US and Ukrainian diplomats will meet in Jeddah to discuss terms for a potential peace deal following the breakdown in negotiations between Presidents Trump and Zelensky on 28th February. Neither leader is expected to attend the talks.

This morning, gas prices have resumed their upward trajectory, with the Summer 25 front-season contract currently being offered approximately 3p/therm (0.10p/kWh) above its previous settlement, though many contracts are yet to trade at time of writing.

If you want to see more information on the wholesale market trends subscribe to our weekly report here.

Price commentary courtesy of Crown Gas and Power Power report courtesy of Crown Gas and Power

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