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Energy Markets
24.11.2025
Oil prices slipped on Friday as traders reacted to the possibility of peace talks between Russia and Ukraine. Brent crude fell 1.3% to close at $62.56 a barrel, while WTI dropped 1.6% to $58.06. The chance of an agreement reduced worries about supply disruptions.
UK gas prices also eased, pressured by the same peace talk optimism and milder weather forecasts. The NBP spot price fell 1.4% to 82.84 p/therm. Longer-term prices weakened too, with the Q2 2026 contract down 1% to 70.97 p/therm.
European day-ahead power prices moved sharply lower as demand softened and warmer conditions were expected. Germany’s spot power price plunged 37% to 91.25 EUR/MWh. France’s spot price fell 23% to 86.16 EUR/MWh.
Power futures followed the drop in gas and carbon markets, pushing prices down along the curve. The German Cal’26 contract slipped 1.6% to 88.86 EUR/MWh, and the French Cal’26 fell 1.3% to 51.37 EUR/MWh. Carbon prices also edged lower, with the 2026 contract down 1.2% to 82.55 EUR/tonne.