Stay up-to-date
Energy Markets
23.12.2025
Oil prices rose on Monday as geopolitical tensions raised fears of supply disruptions. The U.S. interception of a tanker linked to Venezuela increased concerns over exports under sanctions, while Ukrainian drone attacks affected Russian Black Sea ports and vessels. Brent crude climbed 2.7% to $62.07 per barrel, and WTI rose 2.6% to $58 per barrel.
British gas prices fell due to low trading activity and weaker demand ahead of the holiday period. The NBP spot price dropped 4.2% to 70.15 p/therm, while the Summer 2026 contract declined 1% to 64.73 p/therm.
European electricity prices moved in different directions. German day-ahead prices fell 27% to 74.73 EUR/MWh, driven by strong wind output and lower demand. In contrast, French prices rose 8.7% to 76.29 EUR/MWh after EDF extended an outage at its Chooz 1 nuclear reactor. Forward prices eased slightly, with German 2026 power down 0.1% to 85.72 EUR/MWh and French 2026 power down 0.3% to 50.75 EUR/MWh.
European carbon prices increased on Monday, supported by limited auction supply and strong speculative buying before year-end. Gains were limited by concerns over weaker industrial activity, with Dec-2026 EUAs rising 0.5% to 87.48 EUR/tonne.