Jun 10, 2025
Daily (10.06.2025): British gas prices retreated on Monday as storage injections increased
Crude oil prices extended gains on Monday amid hopes for a stronger global economic outlook and increased demand, supported by optimism surrounding U.S.-China trade talks in London. Oil prices also benefited from a softer U.S. dollar, with the dollar index declining by 0.3%, making oil more affordable for buyers using different currencies.
Hence, Brent crude increased by nearly 1% to around $67 per barrel. Similarly, WTI crude gained over 1% to $65.29 per barrel.
The NBP spot price dropped by 2.6% to 83.50 p/therm on Monday, driven by downward revisions to planned Norwegian maintenance and reduced LDZ demand amid warmer weather.
A more optimistic outlook for EU gas storage weighed on prices on the forward curve, with the Winter 2025 delivery contract declining by 1.5% to 94.26 p/therm.
European spot power prices diverged on Monday. The German spot price dropped by 9.38% to 54.12 EUR/MWh, due to increased wind output. Meanwhile, the French spot price climbed to 26.25 EUR/MWh amid lower nuclear availability.
On the forward curve, prices edged lower, tracking a bearish gas market. The German Cal-2026 contract lost 0.2%, settling at 88.57 EUR/MWh. Similarly, the French Cal-2026 contract slipped by 0.2% to 63.23 EUR/MWh.
European carbon prices rose on Monday, shrugging off weaker gas markets as thin holiday trading supported bullish sentiment, with focus shifting to lower renewable output forecasts and rising cooling demand. As a result, EUAs expiring in Dec-2025 gained nearly 1% to 74.23 EUR/tonne.
Hence, Brent crude increased by nearly 1% to around $67 per barrel. Similarly, WTI crude gained over 1% to $65.29 per barrel.
The NBP spot price dropped by 2.6% to 83.50 p/therm on Monday, driven by downward revisions to planned Norwegian maintenance and reduced LDZ demand amid warmer weather.
A more optimistic outlook for EU gas storage weighed on prices on the forward curve, with the Winter 2025 delivery contract declining by 1.5% to 94.26 p/therm.
European spot power prices diverged on Monday. The German spot price dropped by 9.38% to 54.12 EUR/MWh, due to increased wind output. Meanwhile, the French spot price climbed to 26.25 EUR/MWh amid lower nuclear availability.
On the forward curve, prices edged lower, tracking a bearish gas market. The German Cal-2026 contract lost 0.2%, settling at 88.57 EUR/MWh. Similarly, the French Cal-2026 contract slipped by 0.2% to 63.23 EUR/MWh.
European carbon prices rose on Monday, shrugging off weaker gas markets as thin holiday trading supported bullish sentiment, with focus shifting to lower renewable output forecasts and rising cooling demand. As a result, EUAs expiring in Dec-2025 gained nearly 1% to 74.23 EUR/tonne.