Page 46 - Demo

Wednesday, April 8, 2026GAS (p/therm) MONTUEVAR D-1 VAR W-1AVG.MAXMIN 6/47/4FROM THE BEGINNING OF THIS YEARNBP SPOT125.25 132.807.556.8103.01153.5071.25NBP MAY26126.90 135.008.16.995.51155.9763.61NBP JUN26125.28 133.207.926.7993.17152.3562.69NBP JUL26123.97 131.597.626.2191.47149.8062.36NBP AUG26124.57 132.317.746.4391.52149.6562.76NBP SEP26125.46 132.847.385.6692.43150.1564.03NBP OCT26124.44 132.528.086.1991.73149.8863.64NBP NOV26128.17 135.977.85.2994.98152.5867.58NBP DEC26129.71 137.627.915.2696.96154.4869.62NBP JAN27130.75 138.367.614.3598.06153.6571.31NBP FEB27129.32 137.277.955.1697.26151.2071.23NBP MAR27119.90 127.437.534.4191.03141.4667.33NBP APR27107.10 109.732.632.2579.84120.7361.58NBP Q3 26124.66 132.247.586.191.80149.8663.04NBP Q4 26127.43 135.367.935.5894.55152.3166.94NBP Q1 27126.57 134.267.694.6395.39148.6969.91NBP Q2 2796.9299.552.631.2573.88110.4758.95NBP WIN2026127.00 134.827.825.1194.97150.5268.41NBP SUM202794.5597.082.530.7672.07107.1657.74NBP WIN202794.2195.771.56-0.2376.07105.3765.81NBP SUM202867.6968.821.13-0.7358.1773.0952.62NBP WIN202872.7375.082.350.9565.7176.6561.00The NBP spot contract soared by 6% to 132.80 p/therm on Tuesday, driven bygeopolitical uncertainty as the US deadline for Iran pointed to a longer-lastingconflict and ongoing supply risks. On the forward curve, the Winter 2026delivery contract advanced by over 6% to 134.82 p/therm, reflecting weakerstorage conditions and the need for steady inflows, with limited ability to quicklyreplace missing LNG volumes.