Oil prices edged lower on Monday but remained close to six-month highs as diplomatic efforts to ease Middle East tensions were offset by continued security risks. Reported Houthi attacks on Saudi oil infrastructure and Riyadh airport kept supply concerns in focus, despite mediation efforts by Qatar and the US. Brent crude fell by 0.8% to $115.81 per barrel, while WTI declined by 1.5% to $101.76 per barrel, as traders weighed the potential for further disruption against hopes of easing tensions.

UK gas prices rose sharply as low European storage levels and forecasts for colder, less windy weather increased concerns over supply. Prices approached four-year highs, with stronger demand also expected to lift European LNG imports by 27% this week. Against this backdrop, the NBP spot contract surged by 4.8% to 235 p/therm, while the Summer 2027 contract increased by more than 2% to 179.63 p/therm, reflecting continued market concerns over supply and demand.