Snapshot - 12 June 2026
Wholesale energy prices fell sharply on Friday morning as signs of de-escalation between the US and Iran prompted traders to unwind a week of accumulated risk premium. UK gas for next-month delivery dropped around 8 per cent, winter contracts shed close to 8 pence per therm, and Norwegian flows recovered from Thursday's outage-driven lows as the Troll disruption was resolved.
Power followed gas and oil lower, registering its sharpest single-session fall in some time. Near-dated UK baseload contracts lost £3 to £6/MWh as fuel costs declined, although constrained nuclear availability and a forecast dip in weekend wind continue to limit the downside for peak periods.
Across the wider complex, Brent crude slid to eight-week lows near $90 per barrel, while coal and carbon also eased. European gas storage remains at multi-year seasonal lows, keeping the summer injection task a live theme beneath the day's bearish moves.
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