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Energy Data

Natural Gas

+1.33% 34.54 EUR/MWh

NBP Y+1 EUR/MWh

Power

-0.56% 87.46 EUR/MWh

BE Y+1 base

Oil

+0.16% 68.69 USD/bbl

WTI Crude

Green

-0.11% 79.45 EUR/tonne

CO2 EUA Dec 2026

Forex

+0.43% 1.1448

Rate EUR/USD

Daily
Energy
Market
Update

Jul 3, 2026

Daily (03.07.2026): Heatwave concerns boost gas and power prices around Europe

Crude oil prices rose slightly on Thursday due to uncertainties surrounding exports through the Strait of Hormuz. Consequently, Brent crude increased by 0.3% to finish at $71.80 per barrel, while WTI crude went up by 0.2% to close at $68.69 per barrel. British wholesale gas prices strengthened on Thursday amid ongoing doubts about the restart of L...

Jul 3, 2026

In the first quarter of 2026, 46% of the EU's electricity was generated from renewable sources.

In the first quarter of 2026, 45.5% of the electricity produced in the EU was derived from renewable energy sources. This marks an increase from 42.7% during the same quarter in 2025. Wind energy emerged as the leading source of renewable electricity in the EU, contributing 44.9% of the total, an uptick from 42.3% in the first quarter of 2025. Hyd...

Jul 3, 2026

India's coal-fired power generation in June reached its highest level since November 2023.

India's coal-fired power generation reached a near three-year peak in June, driven by higher cooling demands due to an extended heatwave and lower-than-average monsoon rainfall, according to government data. The total electricity production in India for June increased by 10.4% compared to the previous year, amounting to 178.31 billion kilowatt-hou...

Jul 3, 2026

Kuwait significantly increased its crude production in June following the US-Iran agreement, according to a source.

Kuwait's crude oil production increased significantly to 1.65 million barrels per day in June, up from 580,000 bpd in May, according to a source familiar with the situation who spoke to Reuters on Thursday. This boost comes as the OPEC member ramps up exports through the Gulf following the interim peace agreement between the U.S. and Iran. The ris...

Jul 2, 2026

OX2 will place a 50 MW battery system alongside a Swedish wind farm.

Swedish renewable energy developer OX2 AB announced today that it has made the investment decision to build a 50-MW/209-MWh battery near its upcoming Fagerasen wind farm in Sweden. The company has secured funding for this new project from DNB and UniCredit by extending their existing commitments to the wind project. A supply agreement for the ba...

Jul 2, 2026

Euro zone manufacturing activity concludes the first quarter positively, with a reduction in cost pressures, according to PMI.

Eurozone manufacturing output concluded its strongest quarter since early 2022 last month, with diminishing cost pressures. This improvement came as the U.S. and Iran engaged in ceasefire talks, providing some relief to factories, despite weak export demand impacting growth, according to an S&P Global survey released on Wednesday. The ongoing conf...

Jul 2, 2026

Bank of England's Bailey states that rate cuts are not being considered for Britain.

The Governor of the Bank of England, Andrew Bailey, stated on Wednesday that the bank is not considering interest rate cuts at this time, even with oil prices returning to levels seen before the Iran conflict. "There were expectations of a rate cut this year, which seemed reasonable given a slowing economy. However, that option was off the table ...

Jul 1, 2026

UAE has achieved record oil exports following its exit from OPEC, according to ship-tracking data.

The United Arab Emirates set a new record for crude oil and condensate exports in June, as indicated by preliminary ship-tracking data from Kpler and Vortexa, shortly after exiting OPEC. The UAE decided to end nearly 60 years of OPEC membership on May 1 in response to the ongoing U.S.-Israeli conflict with Iran, aiming to enhance the value of its ...

Jul 1, 2026

US oil production reached a record high in April, according to the EIA.

U.S. crude oil production increased to 13.93 million barrels per day in April, reaching the highest level ever recorded, according to monthly data from the Energy Information Administration. This surge was in response to rising oil prices linked to the war in Iran. Production climbed by 216,000 bpd in April, with New Mexico achieving a record outpu...

Jul 1, 2026

Industrial companies caution that the EU's carbon reform might favor polluters.

Steelmaker SSAB is investing €6 billion to modernize its operations by transitioning from coal to low-carbon hydrogen, betting that European Union policies will favor lower-emission production and enable it to outperform more polluting competitors. However, the Swedish firm is among several industrial companies worried that an EU plan to revamp th...

Jun 30, 2026

Romania and Hungary experience the highest electricity prices in Europe due to heatwaves and outages.

Romania and Hungary currently have the highest electricity prices in Europe based on the day-ahead market rates. Increased demand for cooling during a heatwave has impacted the already record-high output from solar energy, while decreases in nuclear and gas power availability have tightened the supply. On June 28, the day-ahead market price in Rom...

Jun 30, 2026

Suez secures €2 billion water management deal in Oman.

French water and waste management firm Suez has secured a €2 billion ($2.28 billion), 15-year contract to operate and maintain water and wastewater services in Oman, marking its largest contract ever in the Middle East. The announcement came during Omani Sultan Haitham bin Tarik's visit to France and coincides with President Emmanuel Macron's effo...

Jun 30, 2026

Iraq seeks a larger OPEC quota due to revenue challenges and new oil investments.

An economic crisis triggered by the Iran war, along with a renewed wave of investment from major oil companies, is pushing Iraq to aggressively seek a higher oil production quota from OPEC, which may lead to conflicts within the organization. This demand from Baghdad compounds the difficulties facing the Organization of the Petroleum Exporting Cou...

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