Page 62 - Demo

Friday, September 19, 2025GAS (p/therm) WEDTHUVAR D-1 VAR W-1AVG.MAXMIN 17/918/9FROM THE BEGINNING OF THIS YEARNBP SPOT78.82 80.902.082.3593.95145.3075.10NBP OCT2579.52 81.501.982.2894.83134.3276.54NBP NOV2584.35 85.701.351.7499.36133.5282.72NBP DEC2587.85 88.871.021.47101.52135.0086.39NBP JAN2689.48 90.4811.4101.95134.3987.46NBP FEB2689.58 90.470.891.24101.42132.9487.38NBP MAR2685.62 86.6211.3397.55128.7583.34NBP APR2681.46 82.501.041.5289.17112.7178.38NBP MAY2678.74 79.811.071.7184.66106.2274.74NBP JUN2677.65 78.751.11.7482.65104.4471.89NBP JUL2677.23 78.361.131.8482.54104.0172.46NBP AUG2678.44 79.591.151.8483.28104.4273.26NBP SEP2679.81 81.011.21.9184.20104.7973.41NBP Q4 2583.90 85.351.451.8398.56133.9981.96NBP Q1 2688.18 89.150.971.33100.27132.0086.02NBP Q2 2679.28 80.351.071.6685.48107.6475.00NBP Q3 2678.48 79.641.161.8683.33104.4073.04NBP WIN202586.02 87.231.211.5899.41133.0083.97NBP SUM202678.88 79.991.111.7684.40106.0074.01NBP WIN202686.54 87.520.981.889.77104.6180.91NBP SUM202772.70 73.260.561.4673.2281.8967.41NBP WIN202780.47 80.900.430.6580.1486.8675.08Unplanned outages at Norway’s Troll and Kollsnes fields lifted near-curve UKgas prices. The NBP spot price soared by 2.6% to 80.90 p/therm on Thursday,further supported by cooler weather forecasts set to drive heating demand. Onthe forward curve, the Winter 2025 delivery contract advanced by 1.4% to87.23 p/therm, underpinned by geopolitical risks and uncertainty over the EU’space in phasing out Russian gas imports.