Jun 25, 2025
Daily (25.06.2025): British gas prices dropped on Tuesday amid easing geopolitical tensions
Crude oil prices fell by 6% on Tuesday, as optimism around a ceasefire between Israel and Iran reduced fears of supply disruptions in the Middle East. Still, the ceasefire remained uncertain, with U.S. President Donald Trump accusing both countries of violating the agreement soon after it was declared.
Hence, Brent crude dipped to $67.14 per barrel, while WTI crude closed at $64.37 per barrel, or a two-week low.
The NBP spot price tumbled by over 13% to 83.75 p/therm on Tuesday, weighed by rising storage injections, the return of the Sabine Pass LNG terminal from maintenance, and easing geopolitical tensions after the Middle East ceasefire announcement.
Further along the curve, the Winter 2025 delivery contract slumped by more than 10% to 96.23 p/therm, driven by expectations of stronger global LNG supply as Israel resumed gas production and LNG Canada began shipping its first cargoes.
European spot power prices surged on Tuesday. The German spot price climbed by nearly 70% to 80.15 EUR/MWh, amid forecasts of a 10 GW drop in wind output. Meanwhile, the French spot price hiked by 38% to 77.64 EUR/MWh, after EDF announced plans to cut generation at its 3.6 GW Bugey nuclear plant on Wednesday, as southeastern France faced temperatures nearing 40°C.
On the forward curve, prices decreased in line with weaker gas markets. The German Cal-2026 contract fell by 4.3%, settling at 88.29 EUR/MWh. Meanwhile, the French similar contract dropped by 4.7% to 64.22 EUR/MWh.
European carbon prices edged higher on Tuesday, buoyed by trader activity ahead of the June contract's expiry on Wednesday. As a result, EUAs expiring in Dec-2025 increased by 0.4% to 73.54 EUR/tonne.
Hence, Brent crude dipped to $67.14 per barrel, while WTI crude closed at $64.37 per barrel, or a two-week low.
The NBP spot price tumbled by over 13% to 83.75 p/therm on Tuesday, weighed by rising storage injections, the return of the Sabine Pass LNG terminal from maintenance, and easing geopolitical tensions after the Middle East ceasefire announcement.
Further along the curve, the Winter 2025 delivery contract slumped by more than 10% to 96.23 p/therm, driven by expectations of stronger global LNG supply as Israel resumed gas production and LNG Canada began shipping its first cargoes.
European spot power prices surged on Tuesday. The German spot price climbed by nearly 70% to 80.15 EUR/MWh, amid forecasts of a 10 GW drop in wind output. Meanwhile, the French spot price hiked by 38% to 77.64 EUR/MWh, after EDF announced plans to cut generation at its 3.6 GW Bugey nuclear plant on Wednesday, as southeastern France faced temperatures nearing 40°C.
On the forward curve, prices decreased in line with weaker gas markets. The German Cal-2026 contract fell by 4.3%, settling at 88.29 EUR/MWh. Meanwhile, the French similar contract dropped by 4.7% to 64.22 EUR/MWh.
European carbon prices edged higher on Tuesday, buoyed by trader activity ahead of the June contract's expiry on Wednesday. As a result, EUAs expiring in Dec-2025 increased by 0.4% to 73.54 EUR/tonne.