Page 28 - MergedFile

September 8, 2025

GAS

British near-term gas prices eased slightly, with the NBP Change in Gas Prices
spot down 0.7% to 77.35 p/therm. Early declines were linked 110
to weak Asian LNG demand and comfortable storage, but
focus shifted to bullish factors after Gassco announced 95
Norwegian maintenance cuts of over 100 mcm/d through 19
September. p/therm 80

Along the forward curve, the gas price for Win-25 delivery 65
rose by 0.8% for the week, surpassing 85 p/therm.
50
Q1 26 Q2 26 Q326 Sum26 Win26 Sum27
29.08.25 05.09.25

OIL

Oil prices declined as markets weighed geopolitical and
supply risks. Brent
70
Russia-Ukraine strikes on energy infrastructure and new
69
U.S. sanctions on Iranian-linked shipping added uncertainty,
but bearish pressure came from record U.S. crude output at 68
13.58 mn b/d in June and concerns over U.S. tariffs 67
dampening demand. Caution also prevailed ahead of the $/bbl 66
OPEC+ meeting, with potential further output increases
under discussion. 65
64
Hence, Brent crude fell by about 4% for the week, closing
63
at $65.50 a barrel. 29.08.25 01.09.25 02.09.25 03.09.25 04.09.25 05.09.25