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Energy Markets
29.04.2026
UK gas prices continued to fall on Tuesday as signs emerged that LNG shipments may still be moving despite ongoing conflict. This eased some immediate supply concerns, even as uncertainty around the US–Iran situation remains.
Oil prices, however, moved higher due to rising tensions in the Middle East. The UAE’s decision to leave OPEC added to market uncertainty and raised expectations it could boost production. Brent crude climbed nearly 3% to $111.26 per barrel, while WTI rose 3.7% to $99.93.
In the UK gas market, prices dropped as traders reacted to mixed signals on supply. The NBP spot price fell 3.3% to 105.10 p/therm, and the Winter 2026 contract declined 2% to 110.30 p/therm.
Across Europe, energy markets weakened overall. Electricity prices fell due to strong solar and wind output and lower demand from mild weather. Carbon prices edged slightly higher but remained stable, with December 2026 EUAs rising 0.5% to 75.11 EUR/tonne.