Flagship Energy’s Mike Stafford Energy Markets Update – 4th June

Following last week’s shallow trough in prices, UK gas and power have edged up again over the last few trading days. Front month gas – now July 26 following the turn of the calendar month – has gained 8p/th since the recent low on 27th May, with front month power following a similar but less pronounced trajectory. Q3 26 and Winter 26 for both gas and power show evidence of a slow uptrend over the last six weeks, amid creeping risk premia associated with low gas storage volumes