Aug 1, 2025
Daily (01.08.2025): Oil prices dropped by 1% on Thursday as Trump’s August 1 trade tariff deadline approaches
Crude prices fell on Thursday as investor caution grew ahead of U.S. President Donald Trump’s August 1 tariff deadline, with lingering uncertainty for nations still without trade deals with Washington. As a result, Brent crude slid 1% to close at $72.53 per barrel, while WTI crude dropped by 1% to settle at $ 69.26 a barrel.
British spot gas closed unchanged on Thursday at 83 p/therm, supported by steady fundamentals. On the forward curve, the Winter-25 delivery contract edged up slightly to 94.77 p/therm, while concerns over global supply disruptions underpinning market sentiment.
European spot power prices moved upwards on Thursday amid forecasts of a sharp drop in wind power generation in Germany and lower nuclear production in France. As a result, the German spot power price surged by 9% to 93.19 EUR/MWh, while the French equivalent contract ended rather stable to bullish at 64.79 EUR/MWh.
Forward electricity prices fell slightly, moving in tandem with lower carbon prices. The German Cal’26 power price slipped by 0.2% to 88.67 EUR/MWh. The similar contract in France ended at 63.80 EUR/MWh, declining by 0.4% day-on-day.
European carbon prices ended slightly lower on Thursday, with analysts suggesting that only major news events could push EUAs out of their current range. December-25 EUAs eased 0.3% to 72.66 EUR/tonne.
British spot gas closed unchanged on Thursday at 83 p/therm, supported by steady fundamentals. On the forward curve, the Winter-25 delivery contract edged up slightly to 94.77 p/therm, while concerns over global supply disruptions underpinning market sentiment.
European spot power prices moved upwards on Thursday amid forecasts of a sharp drop in wind power generation in Germany and lower nuclear production in France. As a result, the German spot power price surged by 9% to 93.19 EUR/MWh, while the French equivalent contract ended rather stable to bullish at 64.79 EUR/MWh.
Forward electricity prices fell slightly, moving in tandem with lower carbon prices. The German Cal’26 power price slipped by 0.2% to 88.67 EUR/MWh. The similar contract in France ended at 63.80 EUR/MWh, declining by 0.4% day-on-day.
European carbon prices ended slightly lower on Thursday, with analysts suggesting that only major news events could push EUAs out of their current range. December-25 EUAs eased 0.3% to 72.66 EUR/tonne.