Jan 6, 2026
Daily (06.01.2026): British gas prices fell on Monday amid strong supply and a slight rise in temperatures
Crude oil prices increased on Monday as traders evaluated the effects of U.S. military operations in Venezuela over the weekend, a country accounting for roughly 1% of global crude production. Uncertainty persists over how production and exports could be impacted, with discussions between the U.S. administration and major oil companies planned later this week. Hence, Brent crude rose by 1.7% to $61.76 per barrel, while WTI crude added 1.7% to $58.32 per barrel.
The British spot gas price dipped by 3.7% to 75.50 p/therm on Monday, weighed by forecasts for temperatures returning to seasonal norms and strong European pipeline supplies.
Further along the curve, the Summer 2026 delivery contract slumped by 5% to 63.67 p/therm, as record LNG inflows helped offset low inventories. Meanwhile, recent geopolitical events, including U.S. strikes in Venezuela and the capture of its president, had little effect on gas prices.
European spot electricity prices extended gains on Monday. The German day-ahead power price climbed by 43.7% to 127.42 EUR/MWh, driven by a drop in wind output. At the same time, the French equivalent contract surged by 43% to 127.40 EUR/MWh after EDF extended the Golfech 2 nuclear outage by four days and paused the 905 MW Chinon 4 unit for 24 hours due to a fault.
On the forward curve, contracts tracked weaker gas and carbon markets. The German 2027 delivery contract fell by 2% to 82.10 EUR/MWh and the French equivalent contract lost 2% to 48.79 EUR/MWh.
European carbon prices eased on Monday, with the EUAs expiring in Dec-2026 falling by 1.2% to 87.25 EUR/tonne, as market participants held back ahead of the restart of daily auctions and more visible demand cues.
The British spot gas price dipped by 3.7% to 75.50 p/therm on Monday, weighed by forecasts for temperatures returning to seasonal norms and strong European pipeline supplies.
Further along the curve, the Summer 2026 delivery contract slumped by 5% to 63.67 p/therm, as record LNG inflows helped offset low inventories. Meanwhile, recent geopolitical events, including U.S. strikes in Venezuela and the capture of its president, had little effect on gas prices.
European spot electricity prices extended gains on Monday. The German day-ahead power price climbed by 43.7% to 127.42 EUR/MWh, driven by a drop in wind output. At the same time, the French equivalent contract surged by 43% to 127.40 EUR/MWh after EDF extended the Golfech 2 nuclear outage by four days and paused the 905 MW Chinon 4 unit for 24 hours due to a fault.
On the forward curve, contracts tracked weaker gas and carbon markets. The German 2027 delivery contract fell by 2% to 82.10 EUR/MWh and the French equivalent contract lost 2% to 48.79 EUR/MWh.
European carbon prices eased on Monday, with the EUAs expiring in Dec-2026 falling by 1.2% to 87.25 EUR/tonne, as market participants held back ahead of the restart of daily auctions and more visible demand cues.