European gas and power prices pushed higher again as colder weather forecasts and rapidly falling storage projections kept risk premia elevated, while carbon eased on profit-taking and oil strengthened on renewed US-Iran tensions.

Near-curve risk premia eased as US LNG feedgas recovered, while softer demand expectations and stronger wind forecasts pulled prompt gas and power lower; oil rose above $70/bbl on fresh Iran-related tensions.

European gas and power softened as the US freeze-driven rally faded, weather models shifted milder, and UK wind output surged, cutting thermal demand despite a year-on-year storage deficit.

Prices reversed lower as milder demand forecasts and improving wind outlooks loosened the near-term balance, despite ongoing concern about US LNG feedgas disruption and a continued geopolitical risk premium.

Gas and power rose on the prompt as a US cold snap squeezed LNG availability; softer curves and drifting carbon tempered gains, while low European storage maintained a supportive tone.

European gas prices fell back as fears of major US LNG disruption eased and forecasts shifted towards near-seasonal temperatures across north-west Europe. UK power curves softened in step with gas, while carbon firmed and oil recovered late on renewed Iran-related tension.

Gas prices jumped sharply as unplanned Norwegian outages tightened supply, while freezing weather supported a broader global gas rally. Power was mixed on stronger wind, but forwards rose with gas and carbon.

European energy markets were mixed: gas steady-to-softer, UK power eased with stronger wind, while EU carbon fell roughly 4% amid US–EU tariff fears and milder early-February forecasts.

Gas and power steadied after Monday’s correction. Colder runs and firm Norwegian and LNG flows balanced the picture. UK system opened long, with rising wind set to curb gas-for-power.