Jul 4, 2025
Daily (04.07.2025): British gas prices decreased on Thursday as supply outweighs cooling demand
Crude oil prices edged down on Thursday amid growing worries that new U.S. tariffs might weigh on energy demand, particularly as major producers are expected to boost output. A midweek boost from a U.S.-Vietnam trade agreement was short-lived, as uncertainty lingered with key deals still unresolved with the EU and Japan.
Hence, Brent crude slipped by 0.5%, closing at $68.80 per barrel. Meanwhile, WTI crude declined by 0.7% to $67 per barrel.
Prospects of strong pipeline and LNG inflows drove the NBP spot price lower by 0.8% to 78 p/therm on Thursday.
Further along the curve, the Winter 2025 delivery contract fell by 0.3% to 92.30 p/therm, pressured by the EU energy committee's approval of rules requiring gas storage sites to be 90% full between 1 October and 1 December, replacing the previously strict 1 November deadline.
European spot power prices extended losses on Thursday. The German spot price dropped by nearly 8% to 79.62 EUR/MWh, as rising solar output offset weaker wind generation. Meanwhile, the French spot price dipped by 11% to 72.52 EUR/MWh amid reduced peak demand.
In contrast, forward prices rose, helped by modest gains in carbon markets. The German Cal-2026 contract edged 0.2% higher at 86.80 EUR/MWh. Meanwhile, the French similar contract gained 0.7%, closing at 63.55 EUR/MWh.
European carbon prices rose slightly on Thursday, supported by ongoing cooling demand met largely through non-renewable energy sources. Consequently, EUAs expiring in Dec-2025 traded 0.2% higher at 72.06 EUR/tonne.
Hence, Brent crude slipped by 0.5%, closing at $68.80 per barrel. Meanwhile, WTI crude declined by 0.7% to $67 per barrel.
Prospects of strong pipeline and LNG inflows drove the NBP spot price lower by 0.8% to 78 p/therm on Thursday.
Further along the curve, the Winter 2025 delivery contract fell by 0.3% to 92.30 p/therm, pressured by the EU energy committee's approval of rules requiring gas storage sites to be 90% full between 1 October and 1 December, replacing the previously strict 1 November deadline.
European spot power prices extended losses on Thursday. The German spot price dropped by nearly 8% to 79.62 EUR/MWh, as rising solar output offset weaker wind generation. Meanwhile, the French spot price dipped by 11% to 72.52 EUR/MWh amid reduced peak demand.
In contrast, forward prices rose, helped by modest gains in carbon markets. The German Cal-2026 contract edged 0.2% higher at 86.80 EUR/MWh. Meanwhile, the French similar contract gained 0.7%, closing at 63.55 EUR/MWh.
European carbon prices rose slightly on Thursday, supported by ongoing cooling demand met largely through non-renewable energy sources. Consequently, EUAs expiring in Dec-2025 traded 0.2% higher at 72.06 EUR/tonne.