Snapshot - 25 June 2026
Energy markets fell broadly in Wednesday's session as the risk premium tied to Middle East tensions continued to drain out of prices. Gas led the move, with day-ahead and front-curve contracts down around 3 per cent and seasonal contracts off by 1 to 2.5 per cent, as recovering shipping through the Strait of Hormuz, strong LNG arrivals into Europe and the prospect of Qatari supply returning all weighed. Prices firmed a little this morning, but the broader tone stays soft.
Power followed gas lower across the curve. A tight evening forced the grid operator to call for extra generation and arrange emergency imports from France, briefly lifting balancing prices, yet the day-ahead still settled well down as fuel costs fell. Forward power eased around 1 to 1.5 per cent, with nuclear availability in the UK and France the main factor keeping a floor under further-dated prices.
Across the wider complex, crude dropped more than 4 per cent on the day and is down close to 7 to 8 per cent on the week, with coal easing alongside it. Carbon went the other way, with UK and European allowances both edging higher even as everything else sold off. Cooler weather into the weekend and comfortable supply point to a softer near-term backdrop, though low storage and lingering Middle East uncertainty leave some support in the market.
This Snapshot offers a concise view of market trends. For comprehensive daily reports, strategic analysis and tailored advisory support, Lumley Consulting provides independent insight across gas, power and wider energy markets. Learn more about our premium subscriptions and consultancy services here.