Kore Energy

Gas Market: UK gas prices were broadly stable on Wednesday as expectations of a potential reopening of the Strait of Hormuz offset continued geopolitical uncertainty Gas Market: The front month October contract settled at 179.48p/th, down 2.90p on Tuesday’s close and its lowest settlement since 4 September Gas Market: Prompt UK gas prices came under pressure on Wednesday as healthy LNG arrivals continued to support supply, with Day Ahead and Working Day Next Week contracts both losing value Power Market: GB baseload prices fell on Wednesday as expectations of a potential reopening of the Strait of Hormuz eased some of the geopolitical risk premium Power Market: European carbon prices declined 1.25% as lower gas and electricity prices weighed on EUAs Oil Market: Oil prices rebounded sharply as renewed tensions between the U.S. and Iran outweighed improving Gulf supply and hopes of a diplomatic resolution Oil Market: Brent crude settled at $103.08/bbl on Wednesday, up $3.83, while the corresponding WTI contract rose $1.64 to close at $92.16/bbl