Kore Energy

Gas Market: UK gas prices surged as the re-escalation of Middle East tensions heightened concerns over potential disruption to global energy flows and increased supply risk Gas Market: Front month Aug-26 UK gas settled at 146.43p/th on Wednesday, rising 6.13p day-on-day as geopolitical risk provided strong support to the near curve Gas Market: Day-ahead gas prices strengthened as increased demand for gas-fired generation coincided with reduced French power availability, limiting import capacity into Britain Power Market: GB baseload prices moved higher as renewed Middle East tensions pushed gas prices higher, with front season contracts leading the gains amid increased supply risk. Power Market: EUAs remained supported by strength across the energy complex and increased speculative positioning, with the Dec-26 contract settling at €81.75/tonne. Oil Market: Oil prices surged as escalating Middle East tensions and renewed concerns over continued disruption to exports via the Strait of Hormuz heightened fears of tighter global crude supply. Oil Market: Brent crude settled at $90.74/bbl on Wednesday, up $6.65, while the corresponding WTI contract gained $5.20 to close at $84.46/bbl.