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August 11, 2025





























      GAS

     British gas prices fell last week due to strong storage, ample
     Norwegian supply, and higher North American LNG export.              Change in Gas Prices
     As a result, NBP spot lost 4.6% to end at 77.25 p/therm on   110
     Friday.
                                                             95
     Along the forward curve, the gas price for Win-25 delivery
     also  dropped  by  4.9%  week-on-week,  to  settle  at  88   p/therm  80
     p/therm.
                                                             65

                                                             50

                                                                   Q4 25   Q1 26   Q2 26   Win25   Sum26    Win26
                                                                               01.08.25   08.08.25

      OIL


     Brent  crude  lost  significant  territory  over  the  week,
     weighed  down  by  oversupply  concerns,  rising  OPEC+                       Brent
     output,  and  soft  demand.  Nevertheless,  geopolitical   70
     tensions limited some of the losses.
                                                               69
     As a result, Brent crude lost 4.4% for the week, settling at
     $66.59 a barrel.                                          68
                                                            $/bbl
                                                               67
                                                               66

                                                               65
                                                                01.08.25  04.08.25  05.08.25  06.08.25  07.08.25  08.08.25
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