Page 89 - Demo

Monday, November 17, 2025GAS (p/therm) THUFRIVAR D-1 VAR W-1AVG.MAXMIN 13/11 14/11FROM THE BEGINNING OF THIS YEARNBP SPOT68.50 80.7512.254.590.91145.3063.10NBP DEC2580.03 82.392.361.2498.28135.0080.03NBP JAN2681.23 83.282.050.4598.91134.3981.23NBP FEB2681.42 83.452.030.4798.50132.9481.42NBP MAR2678.54 80.331.790.2294.73128.7578.54NBP APR2675.49 76.701.21-0.0887.22112.7175.49NBP MAY2673.23 74.701.470.0283.11106.2273.23NBP JUN2672.64 73.530.89-0.5581.34104.4471.89NBP JUL2672.40 73.581.18-0.3681.19104.0172.40NBP AUG2673.45 74.531.08-0.4982.01104.4273.26NBP SEP2674.40 75.831.43-0.1782.98104.7973.41NBP OCT2675.55 76.450.9-1.184.80105.0975.55NBP NOV2680.66 81.500.84-0.8688.34105.1980.24NBP Q1 2680.36 82.321.960.3897.34132.0080.36NBP Q2 2673.78 74.971.19-0.283.88107.6473.78NBP Q3 2673.41 74.631.22-0.3582.05104.4073.04NBP Q4 2679.57 80.420.85-0.9687.76105.3479.57NBP SUM202673.59 74.801.21-0.2782.96106.0073.59NBP WIN202681.01 81.860.85-0.8188.73104.6180.91NBP SUM202767.92 68.600.68-0.7472.7781.8967.41NBP WIN202776.71 77.340.63-0.779.9586.8675.08NBP SUM202863.21 63.430.22-0.7366.3371.7262.79Colder weather forecasts sent the British spot gas benchmark up by 18% to80.75 p/therm on Friday. On the forward curve, the Summer 2026 deliverycontract soared by 1.7% to 74.80 p/therm, with projections of a doubling innorthwest European demand next week expected to move the systemdecisively from injection to heavy withdrawal.