Snapshot - 26 May 2026
Energy markets opened the short week on the back foot. Record May heat across North-West Europe and a wave of solar generation pulled prompt gas and power sharply lower on Friday, and both eased again this morning. The UK logged its hottest May day on record, demand stayed subdued, and a comfortable supply picture did the rest.
UK day-ahead gas fell by around 5 to 6 per cent and day-ahead power by a similar margin, with front-season contracts a few points softer on the day. The curve held up better than the prompt, helped by firmer carbon and an unusually heavy run of nuclear outages that keeps a floor under near-dated power.
Crude bucked the trend, firming around 2 per cent as renewed US-Iran tension put some risk premium back into the barrel. Carbon edged higher, while European storage remains light for the time of year and still points to a sizeable summer rebuild.
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