Energy Market Update – 13 June 2025
Energy markets continued to strengthen, with UK gas and power prices driven higher by supply constraints and nuclear outages, while oil, coal and carbon contracts firmed on Middle East tensions.
Exit nominations were reported at 273.2 mcm/day, down about 1.7% on Wednesday, with planned curtailments expected to exceed 80 mcm/day over the weekend . Flows into Easington fell to 21 mcm/day (from 28.3 mcm) amid a 55 mcm/d unplanned outage at Kollsnes, leaving the UK system roughly 5.2 mcm short by 16:00 BST . Prompt UK gas jumped about 4% to 86.50 p/therm, while Dutch TTF rose 1.7%, supported by a third consecutive day of declining EU storage injections—stocks at approximately 52%, some 20% below year-ago levels . Asia-Pacific spot LNG prices picked up on firm demand from Egypt, and UK LNG sendout was nominated at around 15 mcm/day from South Hook and Isle of Grain, with Dragon remaining muted . Overnight Israeli strikes on Iran’s Natanz nuclear site added a geopolitical premium to prompt curves .
UK day-ahead baseload power climbed to £79.50/MWh , supported by concerns over stress corrosion at EDF’s Civaux-2 reactor, which will remain offline until at least the end of July while three further units are inspected . Warmer weather forecasts—temperatures expected to reach roughly 4 °C above seasonal norms—should curb heating-driven demand, although lower renewable output yesterday added to bullish sentiment earlier in the week .
Brent futures settled at $69.36/bbl (-0.6% on the day but up 6.2% week-on-week) amid renewed Middle East supply concerns; WTI traded at $68.04/bbl (-0.2%, +7.4% W-1) . Cal-26 coal on the ARA CIF curve rose to $105.80/tonne (+1.0% D-1) as Chinese demand forecasts firmed . EU carbon EUA Dec-26 jumped to €77.33/t (+1.4%) and Dec-27 to €79.60/t (+1.3%), tracking stronger gas-fired power output and tighter emissions supply .