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Energy Markets
01.12.2025
Crude oil prices dipped on Friday because U.S. production hit a record 13.84 million barrels per day in September, raising fears of too much supply. Brent fell 0.2% to $63.20 a barrel, and WTI dropped nearly 1% to $58.55.
In the UK gas market, the spot price rose 0.5% to 75.30 p/therm. Prices were helped by bigger storage withdrawals in Europe, expected higher local demand, and lower wind forecasts for Northwest Europe in December.
European electricity prices moved in different directions. Germany’s day-ahead price jumped 6% to 90.19 EUR/MWh on colder weather forecasts, while France’s fell 5.5% to 73.81 EUR/MWh after EDF said it would restart the Gravelines 3 nuclear reactor earlier than planned.
Further out on the curve, power prices edged up alongside stronger carbon prices. German 2026 power rose 0.7% to 87.63 EUR/MWh and French 2026 power gained almost 1% to 49.59 EUR/MWh. Carbon allowances also climbed, with Dec-2025 EUAs up 1.3% to 83.26 EUR/tonne, their highest level in almost ten months.