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Thursday, December 11, 2025GAS (p/therm) TUEWED VAR D-1 VAR W-1AVG.MAXMIN 9/1210/12FROM THE BEGINNING OF THIS YEARNBP SPOT69.50 67.50-2-589.77145.3063.10NBP JAN2672.29 69.70-2.59-3.6497.24134.3969.70NBP FEB2671.13 68.62-2.51-4.5496.83132.9468.62NBP MAR2668.20 66.01-2.19-4.0793.11128.7566.01NBP APR2665.80 63.93-1.87-3.8285.95112.7163.93NBP MAY2664.92 63.03-1.89-3.7782.03106.2263.03NBP JUN2664.23 62.31-1.92-3.6980.34104.4462.31NBP JUL2664.01 62.25-1.76-3.3580.19104.0162.25NBP AUG2664.36 62.60-1.76-3.9381.00104.4262.60NBP SEP2665.57 63.85-1.72-3.9181.99104.7963.85NBP OCT2666.09 64.10-1.99-4.1183.72105.0964.10NBP NOV2670.39 68.53-1.86-4.2887.34105.1968.53NBP DEC2672.20 70.31-1.89-4.4489.18105.8070.31NBP Q1 2670.52 68.09-2.43-4.0795.69132.0068.09NBP Q2 2664.98 63.09-1.89-3.7682.76107.6463.09NBP Q3 2664.64 62.89-1.75-3.7381.05104.4062.89NBP Q4 2669.55 67.64-1.91-4.2786.74105.3467.64NBP SUM202664.81 62.99-1.82-3.7481.90106.0062.99NBP WIN202670.91 69.06-1.85-4.2187.74104.6169.06NBP SUM202760.60 59.41-1.19-2.9772.1181.8959.41NBP WIN202769.83 68.38-1.45-2.8779.4086.8668.38NBP SUM202857.63 56.79-0.84-2.2865.8671.7256.79The British spot gas price dipped by around 3% to 67.50 p/therm due to ampleLNG and Norwegian pipeline supplies. On the forward curve, the Summer 2026delivery contract dropped by 2.8%, settling at 63 p/therm, weighed by negativeinvestor sentiment. ICE data showed speculators’ net short position in TTFfutures rose to about 85 TWh last Friday, up 35 TWh week-on-week, reflectingbearish investor outlook across European gas markets.