Apr 30, 2025
Daily (30.04.2025): Crude oil prices hit a 2-week low on Tuesday amid ongoing trade war concerns
Crude oil prices fell to their lowest level in two weeks on Tuesday, weighed by expectations of increased output from OPEC+ and ongoing investor concerns over global economic uncertainty and the potential impact of a trade war on oil demand.
Hence, Brent crude slumped by 2.4% to $64.25 per barrel. Similarly, WTI crude lost 2.6%, settling at $60.42 per barrel.
The British spot gas price dropped by 1.6% to 76 p/therm on Tuesday, after the UK secured two additional LNG cargoes for May 2025, bringing the total to three. However, extended maintenance at the 615MW Heysham 2-7 nuclear reactor and a new outage at the 595MW Hartlepool 1 unit capped losses.
On the forward curve, the Winter 2025 delivery contract fell by 1.2% to 86.26 p/therm, pressured by expectations of easing EU storage targets, alongside a pickup in storage injection activity.
European spot power prices soared on Tuesday, driven by reduced renewable generation. The German spot price increased by 2.4% to nearly 75 EUR/MWh, while the French spot price jumped by over 93% to 48.26 EUR/MWh, amid tighter supply conditions.
On the forward curve, prices diverged as market sentiment remained shaky due to ongoing volatility surrounding U.S. trade tariffs. As a result, the German Cal-2026 contract traded 0.5% lower at around 80 EUR/MWh, while the French Cal-2026 rose by nearly 1% to 60.52 EUR/MWh.
European carbon prices continued to decline on Tuesday, due to weaker natural gas markets, ongoing economic uncertainty, and subdued demand from Asia. As a result, EUAs expiring in Dec-2025 traded 0.7% lower at 64.85 EUR/tonne.
Hence, Brent crude slumped by 2.4% to $64.25 per barrel. Similarly, WTI crude lost 2.6%, settling at $60.42 per barrel.
The British spot gas price dropped by 1.6% to 76 p/therm on Tuesday, after the UK secured two additional LNG cargoes for May 2025, bringing the total to three. However, extended maintenance at the 615MW Heysham 2-7 nuclear reactor and a new outage at the 595MW Hartlepool 1 unit capped losses.
On the forward curve, the Winter 2025 delivery contract fell by 1.2% to 86.26 p/therm, pressured by expectations of easing EU storage targets, alongside a pickup in storage injection activity.
European spot power prices soared on Tuesday, driven by reduced renewable generation. The German spot price increased by 2.4% to nearly 75 EUR/MWh, while the French spot price jumped by over 93% to 48.26 EUR/MWh, amid tighter supply conditions.
On the forward curve, prices diverged as market sentiment remained shaky due to ongoing volatility surrounding U.S. trade tariffs. As a result, the German Cal-2026 contract traded 0.5% lower at around 80 EUR/MWh, while the French Cal-2026 rose by nearly 1% to 60.52 EUR/MWh.
European carbon prices continued to decline on Tuesday, due to weaker natural gas markets, ongoing economic uncertainty, and subdued demand from Asia. As a result, EUAs expiring in Dec-2025 traded 0.7% lower at 64.85 EUR/tonne.