Kore Energy

Gas Market: UK wholesale gas prices fell on Friday following news that the Strait of Hormuz had been declared completely open Gas Market: The May 26 contract settled at 97.11p per therm, down 9.19p on its previous close, and down 11.5% week-on-week Gas Market: The prompt market also displayed weakness on continued hope for progress towards peace in the Middle East, with the Day ahead contract shedding 7.60p by the close Power Market: UK Baseload power futures tracked losses across gas and oil markets on Friday, with the May 26 contract seeing a day-on-day drop of £5.25/MWh Power Market: Carbon allowances strengthened on Friday amid increased geopolitical optimism Oil Market: News that the Strait of Hormuz had been declared fully open for all commercial vessels for the remaining ceasefire period weighed heavily on crude oil markets on Friday Oil Market: The front month Brent contract shed 9.1% by the end of the session to close at $90.38 a barrel, its lowest close since 10th March