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December 01, 2025

GAS

British near-term gas prices moved downwards for the Change in Gas Prices
week, as the market remained well-supplied despite short- 110
term weather fluctuations. Strong LNG send-out continued,
Norwegian flows stayed steady, and interconnector exports 95
to the Continent supported UK system balance. Overall,
fundamentals remain comfortable, keeping prices under p/therm 80
pressure despite minor weather-driven risks. As a result,
NBP spot tumbled by about 5% for the week, ending at 65
75.30 p/therm.
50
Q1 26 Q226 Q3 26 Win26 Sum27 Win27
Along the forward curve, the gas price for Sum-26 delivery
21.11.25 28.11.25
fell by around 5% to 67.79 p/therm amid reduced
geopolitical risk surrounding Russia–Ukraine talks.

OIL

Crude oil prices firmed for the week as investors focused
on Russia–Ukraine peace talks, which kept geopolitical risks Brent
high, and on this weekend’s OPEC+ meeting for guidance 63.6
on future supply. A weaker U.S. dollar, holiday-thin 63.4
liquidity, and technical buying above key support added 63.2
further upside pressure.
63

Hence, Brent crude rose by 1% for the week, settling at $/bbl 62.8
$63.20 a barrel. 62.6
62.4
62.2
62
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