Energy Market Update - 08 December 2025
Gas and power firmed slightly. Supply is comfortable, though a cooler tilt into late December and choppy renewables kept near-curve support intact. Trading stayed within recent ranges.
NBP day-ahead printed 67.8 p/therm, with TTF near the same level. The UK system opened long as Langeled nominations increased and domestic output was steady. LNG send-out was lower than the prior session, though multiple cargoes are scheduled for North West Europe and two are due at UK terminals tomorrow, which should cap prompt upside. European storage continues to see seasonal withdrawals, but overall cover remains healthy. Near-term weather guidance points to temperatures drifting lower from mid-month, with a brief move below seasonal norms around the festive period. Norwegian exits were last reported in the mid-330s mcm per day, with curtailments still present but easing versus recent weeks.
NBP day-ahead printed 67.8 p/therm, with TTF near the same level. The UK system opened long as Langeled nominations increased and domestic output was steady. LNG send-out was lower than the prior session, though multiple cargoes are scheduled for North West Europe and two are due at UK terminals tomorrow, which should cap prompt upside. European storage continues to see seasonal withdrawals, but overall cover remains healthy. Near-term weather guidance points to temperatures drifting lower from mid-month, with a brief move below seasonal norms around the festive period. Norwegian exits were last reported in the mid-330s mcm per day, with curtailments still present but easing versus recent weeks.
NBP day-ahead printed 67.8 p/therm, with TTF near the same level. The UK system opened long as Langeled nominations increased and domestic output was steady. LNG send-out was lower than the prior session, though multiple cargoes are scheduled for North West Europe and two are due at UK terminals tomorrow, which should cap prompt upside. European storage continues to see seasonal withdrawals, but overall cover remains healthy. Near-term weather guidance points to temperatures drifting lower from mid-month, with a brief move below seasonal norms around the festive period. Norwegian exits were last reported in the mid-330s mcm per day, with curtailments still present but easing versus recent weeks.