Page 10 - MergedFile

November 10, 2025

GAS

British near-term gas prices soared for the week as Change in Gas Prices
temperatures are expected to drop, lifting heating demand. 110
Although LNG flows remained steady and supported the
system, inventories were around 12% below last year’s 95
levels, tightening supply. This combination of higher demand
expectations and below-average stocks pushed the NBP spot p/therm 80
price over 4% higher at 76.25 p/therm.
65
Along the forward curve, the gas price for Sum-26 delivery
added 0.6% for the week, closing at 75.07 p/therm. 50
Q2 26 Q3 26 Q4 26 Win26 Sum27 Win27
31.10.25 07.11.25

OIL

Crude oil prices fell last week as worries over excess supply
and reduced refinery activity weighed on the market. Brent
65.5
Higher global production and an unexpected 5.2-million-
barrel increase in U.S. inventories underscored abundant 65
supply, while ongoing refinery maintenance and uneven 64.5
demand further pressured prices. Brent crude recovered
modestly on Friday but still closed the week about 1% $/bbl 64
lower at $63.63 per barrel, with sentiment remaining 63.5
cautious amid anticipated OPEC+ output increases and
63
rising global stock levels.
62.5
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