Mar 21, 2025
Daily (21.03.2025): Oil prices rose as United States imposes new sanctions on Iranian crude
Oil prices rose on Thursday, following new sanctions from the United States administration aimed at curbing Iran’s crude exports, as President Donald Trump seeks to negotiate a nuclear deal with Tehran.
Brent crude increased by 1.7% to settle at $72 per barrel, while WTI surged by 1.4% to trade at $68.07 per barrel.
UK near-term gas prices declined on Thursday influenced by a rise in wind generation and higher temperatures. Consequently, the NBP spot price settled 3.3% down at 103 p/therm.
Further along the curve, the NBP Sum-2025 delivery contract dropped by 1.4% to close at 103.72 p/therm amid forecasts for increased LNG arrivals.
European spot power prices plunged on Thursday. The German day-ahead price tumbled by 32% to trade at 73.52 EUR/MWh impacted by warmer weather. At the same time, the French day-ahead price plummeted by 33%, closing at 30.67 EUR/MWh, weighed by weaker heating demand.
On the forward curve, European power prices had mixed evolution on Thursday. The German Cal’2026 rose by 0.7% closing at 86.95 EUR/MWh amid slightly higher gas prices in Europe. In contrast, the French equivalent contract traded 1.7% lower at 63.59 EUR/MWh tracking bearish carbon prices.
European carbon prices lost ground on Thursday, as traders engaged in profit-taking. The decline was exacerbated by the weakest carbon auction of the year, while energy markets softened on reports that Germany and France may ease gas storage mandates from 2026. EUAs expiring in Dec-25 edged 0.6 % lower at 73 EUR/tonne.
Brent crude increased by 1.7% to settle at $72 per barrel, while WTI surged by 1.4% to trade at $68.07 per barrel.
UK near-term gas prices declined on Thursday influenced by a rise in wind generation and higher temperatures. Consequently, the NBP spot price settled 3.3% down at 103 p/therm.
Further along the curve, the NBP Sum-2025 delivery contract dropped by 1.4% to close at 103.72 p/therm amid forecasts for increased LNG arrivals.
European spot power prices plunged on Thursday. The German day-ahead price tumbled by 32% to trade at 73.52 EUR/MWh impacted by warmer weather. At the same time, the French day-ahead price plummeted by 33%, closing at 30.67 EUR/MWh, weighed by weaker heating demand.
On the forward curve, European power prices had mixed evolution on Thursday. The German Cal’2026 rose by 0.7% closing at 86.95 EUR/MWh amid slightly higher gas prices in Europe. In contrast, the French equivalent contract traded 1.7% lower at 63.59 EUR/MWh tracking bearish carbon prices.
European carbon prices lost ground on Thursday, as traders engaged in profit-taking. The decline was exacerbated by the weakest carbon auction of the year, while energy markets softened on reports that Germany and France may ease gas storage mandates from 2026. EUAs expiring in Dec-25 edged 0.6 % lower at 73 EUR/tonne.