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Energy Markets
25.03.2026
UK gas prices fell on Tuesday as concerns about supply disruptions eased. This followed a delay in potential U.S. strikes on Iran’s energy infrastructure, which reduced fears around the Strait of Hormuz—a key route for global oil and gas. As a result, British gas prices dropped, with the NBP spot contract falling nearly 5%.
Oil prices, however, moved higher due to ongoing uncertainty in the Middle East. Iran denied any peace talks with the U.S., keeping tensions in focus. Brent crude rose 4.6% to $104.49 per barrel, while WTI increased 5% to $92.35, reflecting continued concern about supply risks.
European electricity prices dropped sharply, mainly due to expectations of strong renewable energy output. German day-ahead power prices fell by 51%, while French prices dropped even more, down 68%, as forecasts pointed to increased wind and renewable generation.
Meanwhile, forward energy contracts showed mixed results, and carbon prices increased. German 2027 power contracts fell slightly, while French contracts rose. In carbon markets, EU emissions allowances climbed nearly 3% as confidence improved following EU support for the emissions trading system.