Market Insights 10/06/2025

DAILY MARKET REPORT – 10/06/2025

A downward start to the week after markets were showing some small gains throughout last week.

With gas stocks now over 50%, and potentially some weaker demand in Asia, some confidence was seen in yesterdays session to limit gains and show some softening.

A windier day later this week (Thursday) is expected before settling down once again.

Yesterday saw the TTF Front Month contract settle at €35.61 (from €36.25) and the NBP Front Month contract at 82.51p (from 84.91p).

No unplanned outage this morning and we see a Norwegian flow nomination level at 265mcm (272). EU gas storage showing at 51.40% (50.97%) full as per AGSI+. LNG vessels due to arrive in UK the next couple of weeks is 2 (2).

This morning we see the Front Month TTF contract at €35, DOWN €1 to the previous settlement.

A quick check on some key contracts (rounded to nearest whole):
Curve TTF Front Month €35, Front Season €37 (vs €36 and €38)
Curve NBP Front Month 83p, Front Season 94p (vs 85p and 96p)
UK Gas NBP spot 83p (from 86p)
UK Power Base spot £80 (from £82)

UK power prices show the UK Front Month Baseload contract at £76 (£76) and Front Season at £85 (£86).

In other areas of the market Brent Oil is at $67 ($66) and EUAs are at €74 (€74). Henry Hub is at $3.64 ($3.78) and JKM is at $12.44 ($12.45) with TTF Equiv of $11.93 ($12.13).

Numbers in brackets show the previous reports value.