Apr 29, 2025
Daily (29.04.2025): Crude oil prices fell on Monday amid demand concerns
Crude oil prices dropped by 1.5% on Monday, driven by demand concerns linked to the U.S.-China trade dispute. The pressure was further intensified by expectations that some OPEC+ members will suggest a second consecutive month of higher output at their May 5 meeting.
Hence, Brent crude closed at $65.86 per barrel, while WTI crude settled at around $62 per barrel.
Concerns over potential disruptions to global LNG supply and rising costs, particularly in Japan, were fuelled by Australia’s general election. This led to a 0.3% increase in the NBP spot price to 77.20 p/therm on Monday, amid increased worries that policy shifts could restrict exports and put additional pressure on the global market.
In addition, recent talks between Trump and President Zelenskiy about ending the war in Ukraine brought weighed on prices on the forward curve. Thus, the Winter 2025 delivery contract slipped by 0.4% to 87.30 p/therm. However, limited progress with Russia helped prevent further losses.
European spot power prices diverged on Monday, with the German spot price soaring by over 27% to 73.20 EUR/MWh due to lower solar power generation. Meanwhile, the French spot price tumbled by over 32% to nearly 25 EUR/MWh as French utility EDF has brought forward the restart of its 905 MW Chinon 1 nuclear reactor by four days to Tuesday.
On the forward curve, prices declined, amid bearish signals from gas and carbon markets. As a result, the German Cal-2026 contract fell by 1% to 80.46 EUR/MWh, while the French Cal-2026 traded 0.2% lower at 60 EUR/MWh.
The holiday mood still impacted European carbon prices on Monday, with participants describing a subdued market that continued to reflect this sentiment. However, while short-term price fluctuations are likely to be influenced by macroeconomic factors, the long-term outlook for EUAs is gradually becoming more positive. As a result, EUAs expiring in Dec-2025 dipped by 1.7% to 65.31 EUR/tonne.
Hence, Brent crude closed at $65.86 per barrel, while WTI crude settled at around $62 per barrel.
Concerns over potential disruptions to global LNG supply and rising costs, particularly in Japan, were fuelled by Australia’s general election. This led to a 0.3% increase in the NBP spot price to 77.20 p/therm on Monday, amid increased worries that policy shifts could restrict exports and put additional pressure on the global market.
In addition, recent talks between Trump and President Zelenskiy about ending the war in Ukraine brought weighed on prices on the forward curve. Thus, the Winter 2025 delivery contract slipped by 0.4% to 87.30 p/therm. However, limited progress with Russia helped prevent further losses.
European spot power prices diverged on Monday, with the German spot price soaring by over 27% to 73.20 EUR/MWh due to lower solar power generation. Meanwhile, the French spot price tumbled by over 32% to nearly 25 EUR/MWh as French utility EDF has brought forward the restart of its 905 MW Chinon 1 nuclear reactor by four days to Tuesday.
On the forward curve, prices declined, amid bearish signals from gas and carbon markets. As a result, the German Cal-2026 contract fell by 1% to 80.46 EUR/MWh, while the French Cal-2026 traded 0.2% lower at 60 EUR/MWh.
The holiday mood still impacted European carbon prices on Monday, with participants describing a subdued market that continued to reflect this sentiment. However, while short-term price fluctuations are likely to be influenced by macroeconomic factors, the long-term outlook for EUAs is gradually becoming more positive. As a result, EUAs expiring in Dec-2025 dipped by 1.7% to 65.31 EUR/tonne.