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Energy Markets
27.02.2026
UK gas prices rose on Thursday as the LNG refill season gathered pace. A forecast period of low wind is expected to lift demand for gas-fired power generation. As a result, the British spot gas price increased by 4.7% to 76.80 p/therm.
Further along the curve, the Summer 2026 contract gained nearly 4% to 76.71 p/therm. Prices were supported by lower storage levels and expectations of stronger LNG demand during the refill season.
In contrast, oil prices edged lower. Brent crude slipped to $70.75 per barrel, while WTI fell 0.3% to $65.21 per barrel. Investors focused on ongoing US-Iran talks, which reduced concerns about immediate supply disruptions.
European power and carbon markets declined. German day-ahead power dropped 16% to 64.92 EUR/MWh, while the French contract fell 44% to 12.70 EUR/MWh due to higher renewable output and milder weather. Carbon prices also weakened, with Dec-2026 EUAs down 2.2% to 70.97 EUR/tonne after calls from several EU countries to ease emissions rules.