Jul 21, 2025
Daily (21.07.2025): British gas prices fell on Friday amid resumed Norwegian flows
Crude oil prices dipped slightly on Friday weighed by mixed signals from the U.S. economy and trade policy, even as concerns over supply persisted following fresh EU sanctions on Russian oil. The subdued market response suggested doubts about how strictly the measures would be enforced and their overall impact. Hence, Brent crude slipped by 0.4% to $69.28 per barrel. Similarly, WTI crude edged 0.3% lower at $67.34 per barrel.
The NBP spot price dropped by 4.2% to 81.30 p/therm on Friday, as Norwegian exports to mainland Europe rose by 51.6 mcm day-on-day following the resolution of unplanned outages at the Nyhamna and Kollsnes gas processing facilities.
Further along the curve, the Winter 2025 delivery contract decreased by 1.4% to 91.80 p/therm, pressured by weak Asian LNG demand, which continues to bolster Europe’s supply outlook.
European spot power prices tumbled on Friday. The German spot price slumped by over 30% to 70.14 EUR/MWh, driven by forecasts of higher wind generation. Meanwhile, the French spot price plunged by 50% to 46.25 EUR/MWh after EDF announced it would restart its 915 MW Cruas 2 nuclear reactor 24 hours ahead of schedule.
Forward contracts also traded lower in a subdued market amid the summer holiday lull. The German Cal-2026 contract fell by 1% to 85.72 EUR/MWh. Meanwhile, the French similar contract declined by around 2% to 62.68 EUR/MWh.
European carbon prices extended losses on Friday, pressured by lower fossil fuel demand as holiday-related slowdowns, increased wind power forecasts, and cooler weather reduced consumption across much of the region. As a result, EUAs expiring in Dec-2025 decreased by 0.9% to 69.89 EUR/tonne.
The NBP spot price dropped by 4.2% to 81.30 p/therm on Friday, as Norwegian exports to mainland Europe rose by 51.6 mcm day-on-day following the resolution of unplanned outages at the Nyhamna and Kollsnes gas processing facilities.
Further along the curve, the Winter 2025 delivery contract decreased by 1.4% to 91.80 p/therm, pressured by weak Asian LNG demand, which continues to bolster Europe’s supply outlook.
European spot power prices tumbled on Friday. The German spot price slumped by over 30% to 70.14 EUR/MWh, driven by forecasts of higher wind generation. Meanwhile, the French spot price plunged by 50% to 46.25 EUR/MWh after EDF announced it would restart its 915 MW Cruas 2 nuclear reactor 24 hours ahead of schedule.
Forward contracts also traded lower in a subdued market amid the summer holiday lull. The German Cal-2026 contract fell by 1% to 85.72 EUR/MWh. Meanwhile, the French similar contract declined by around 2% to 62.68 EUR/MWh.
European carbon prices extended losses on Friday, pressured by lower fossil fuel demand as holiday-related slowdowns, increased wind power forecasts, and cooler weather reduced consumption across much of the region. As a result, EUAs expiring in Dec-2025 decreased by 0.9% to 69.89 EUR/tonne.