Market Insights 05/09/2025

DAILY MARKET REPORT – 05/09/2025

The steady theme continued yesterday with very small movement seen across the board, and price levels continue to hold at a level seen for many of the last sessions.

That’s not surprising with limited news, particularly around comments made from President Trump or those relating to the much-anticipated meeting between Russia and Ukraine and of course fundamentals remaining unchanged also, impacting a directional pull either way.

Yesterday saw the TTF Front Month contract settle at €32.41 (from €32.11) and the NBP Front Month contract at 79.12p (from 78.46p).

No unplanned outage this morning and we see a Norwegian flow nomination level at 246mcm (245). EU gas storage showing at 78.51% (78.29%) full as per AGSI+. LNG vessels due to arrive in UK the next couple of weeks is 0 (0).

This morning we see the Front Month TTF contract at €32, NO CHANGE to the previous settlement.

A quick check on some key contracts (rounded to nearest whole):
Curve TTF Front Month €32, Front Season €33 (vs €32 and €33)
Curve NBP Front Month 79p, Front Season 86p (vs 78p and 85p)
UK Gas NBP spot 78p (from 78p)
UK Power Base spot £83 (from £77)

UK power prices show the UK Front Month Baseload contract at £75 (£74) and Front Season at £83 (£83).

In other areas of the market Brent Oil is at $67 ($68) and EUAs are at €75 (€75). Henry Hub is at $3.07 ($3.06) and JKM is at $11.25 ($11.23) with TTF Equiv of $11.07 ($11.01).

Numbers in brackets show the previous reports value.