Page 34 - Demo

Wednesday, December 3, 2025GAS (p/therm) MONTUEVAR D-1 VAR W-1AVG.MAXMIN 1/122/12FROM THE BEGINNING OF THIS YEARNBP SPOT72.35 72.700.35-4.690.28145.3063.10NBP JAN2673.83 73.34-0.49-4.5297.90134.3973.34NBP FEB2673.76 73.21-0.55-4.1397.49132.9473.21NBP MAR2670.55 70.09-0.46-4.193.75128.7570.09NBP APR2667.92 67.56-0.36-3.6586.46112.7167.56NBP MAY2666.55 66.45-0.1-3.1982.47106.2266.45NBP JUN2665.90 65.76-0.14-2.9180.75104.4465.76NBP JUL2665.51 65.46-0.05-3.0480.60104.0165.46NBP AUG2666.45 66.38-0.07-3.0381.42104.4266.38NBP SEP2667.73 67.62-0.11-3.0882.40104.7967.62NBP OCT2668.32 68.24-0.08-3.1384.17105.0968.24NBP NOV2672.88 72.84-0.04-3.1187.76105.1972.84NBP DEC2674.99 74.75-0.24-3.2989.60105.8074.75NBP Q1 2672.68 72.18-0.5-4.2596.34132.0072.18NBP Q2 2666.79 66.59-0.2-3.2583.22107.6466.59NBP Q3 2666.55 66.47-0.08-3.0581.46104.4066.47NBP Q4 2672.05 71.93-0.12-3.1887.17105.3471.93NBP SUM202666.67 66.53-0.14-3.1582.34106.0066.53NBP WIN202673.49 73.32-0.17-3.1388.16104.6173.32NBP SUM202762.50 62.38-0.12-2.1172.3981.8962.38NBP WIN202771.41 71.450.04-1.2879.6486.8671.41NBP SUM202859.01 59.300.29-0.766.0571.7259.01On Tuesday, the British spot gas price edged 0.5% higher at 72.70 p/thermdriven by lower wind output and minor outages that caused Norwegian flows toEurope to dip. On the forward curve, the Summer 2026 delivery contractsoftened by 0.2%, settling at 66.53 p/therm, reflecting softer Asian LNGdemand boosting European supply. Traders are monitoring possible UScargoes moving to Asia, which could help stabilise regional prices.