Jul 15, 2025
Daily (15.07.2025): British gas prices gained momentum on Monday as Asian LNG demand tightened supply
Crude oil prices fell on Monday, weighed by persistent tariff threats from President Trump and fading concerns over near-term sanctions on Russian oil, which now appear less imminent than previously expected. The U.S. president warned of potential sanctions on Russian oil buyers if no peace agreement is reached within 50 days.
Hence, Brent crude lost 1.6% to $69.21 per barrel. Meanwhile, WTI crude dipped by over 2% to around $67 per barrel.
An unplanned outage at the Aasta Hansteen field lent support to the British spot gas price on Monday, with reduced flows of 3.6 mcm/day pushing the NBP spot price up by 1.6% to 85.35 p/therm.
On the forward curve, the Winter 2025 delivery contract gained 0.3% to 96.44 p/therm, driven by concerns that extreme heat in North Asia could limit LNG availability for European storage refills, despite rather stable EU inventories.
European spot power prices soared on Monday. The German spot price climbed by over 25% to 90.82 EUR/MWh, driven by forecasts of reduced solar output and rising demand. Meanwhile, the French spot price rose by nearly 2% to 58.20 EUR/MWh, supported by above-average temperatures.
On the forward curve, prices retreated amid modest declines in carbon markets. The German Cal-2026 contract lost 0.4% to 87.33 EUR/MWh. Similarly, the French similar contract traded 0.4% lower at 65.29 EUR/MWh.
European carbon prices declined on Monday, pressured by a sell-off after President Trump announced potential 30% tariffs on imports from Europe starting August 1. However, dip-buying and reported compliance demand capped losses. Consequently, EUAs expiring in Dec-2025 slipped by 0.2% to 70.42 EUR/tonne.
Hence, Brent crude lost 1.6% to $69.21 per barrel. Meanwhile, WTI crude dipped by over 2% to around $67 per barrel.
An unplanned outage at the Aasta Hansteen field lent support to the British spot gas price on Monday, with reduced flows of 3.6 mcm/day pushing the NBP spot price up by 1.6% to 85.35 p/therm.
On the forward curve, the Winter 2025 delivery contract gained 0.3% to 96.44 p/therm, driven by concerns that extreme heat in North Asia could limit LNG availability for European storage refills, despite rather stable EU inventories.
European spot power prices soared on Monday. The German spot price climbed by over 25% to 90.82 EUR/MWh, driven by forecasts of reduced solar output and rising demand. Meanwhile, the French spot price rose by nearly 2% to 58.20 EUR/MWh, supported by above-average temperatures.
On the forward curve, prices retreated amid modest declines in carbon markets. The German Cal-2026 contract lost 0.4% to 87.33 EUR/MWh. Similarly, the French similar contract traded 0.4% lower at 65.29 EUR/MWh.
European carbon prices declined on Monday, pressured by a sell-off after President Trump announced potential 30% tariffs on imports from Europe starting August 1. However, dip-buying and reported compliance demand capped losses. Consequently, EUAs expiring in Dec-2025 slipped by 0.2% to 70.42 EUR/tonne.