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Wednesday, November 26, 2025GAS (p/therm) MONTUEVAR D-1 VAR W-1AVG.MAXMIN 24/11 25/11FROM THE BEGINNING OF THIS YEARNBP SPOT78.00 77.30-0.7-5.8590.62145.3063.10NBP DEC2577.53 76.70-0.83-6.897.74135.0076.70NBP JAN2678.79 77.86-0.93-6.3698.38134.3977.86NBP FEB2678.40 77.34-1.06-6.8697.98132.9477.34NBP MAR2675.11 74.19-0.92-6.6894.22128.7574.19NBP APR2672.36 71.21-1.15-5.7686.83112.7171.21NBP MAY2670.36 69.64-0.72-5.1282.79106.2269.64NBP JUN2669.39 68.67-0.72-5.181.05104.4468.67NBP JUL2669.29 68.50-0.79-5.1880.90104.0168.50NBP AUG2670.21 69.41-0.8-5.2281.72104.4269.41NBP SEP2671.50 70.70-0.8-5.2382.69104.7970.70NBP OCT2672.17 71.37-0.8-5.1284.48105.0971.37NBP NOV2676.75 75.95-0.8-5.3388.06105.1975.95NBP Q1 2677.40 76.43-0.97-6.6396.82132.0076.43NBP Q2 2670.70 69.84-0.86-5.3283.55107.6469.84NBP Q3 2670.32 69.52-0.8-5.2181.76104.4069.52NBP Q4 2675.91 75.11-0.8-5.2687.47105.3475.11NBP SUM202670.51 69.68-0.83-5.2782.65106.0069.68NBP WIN202677.25 76.45-0.8-5.488.45104.6176.45NBP SUM202764.72 64.49-0.23-3.9572.5981.8964.49NBP WIN202773.57 72.73-0.84-4.4579.8186.8672.73NBP SUM202860.51 60.00-0.51-3.2466.1971.7260.00The British spot gas price fell by 1% to 77.30 p/therm on Tuesday, weighed by amild weather outlook, as Northwest European temperatures are expected toremain 2–3°C above normal through late December, dampening heatingdemand. On the forward curve, the Summer 2026 delivery contract dipped by1.2%, settling at 69.68 p/therm, driven by optimism over potential RUS–UKRpeace progress.