Market Insights 08/09/2025

DAILY MARKET REPORT – 08/09/2025

A small downward movement seen in Fridays session, but it was small and remains to be in the holding range seen of the last number of sessions.

Oil markets had a small downward move in response to OPEC+ looking to increase production next month, and other markets may have reacted to this.

Norwegian gas output remains throttled due to ongoing planned maintenance, expected to last until the final third of the month.

Temperatures this week look mixed compared to seasonal normal, getting cooler towards the end of the week. Wind generation is also higher towards the end of the week compared to the start of it.

Friday saw the TTF Front Month contract settle at €31.97 (from €32.41) and the NBP Front Month contract at 77.89p (from 79.12p).

No unplanned outage this morning and we see a Norwegian flow nomination level at 246mcm (246). EU gas storage showing at 79.24% (78.51%) 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 78p, Front Season 85p (vs 79p and 86p)
UK Gas NBP spot 78p (from 78p)
UK Power Base spot £87 (from £83)

UK power prices show the UK Front Month Baseload contract at £74 (£75) and Front Season at £84 (£83).

In other areas of the market Brent Oil is at $66 ($67) and EUAs are at €76 (€75). Henry Hub is at $3.05 ($3.07) and JKM is at $11.30 ($11.25) with TTF Equiv of $11.02 ($11.07).

Numbers in brackets show the previous reports value.