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Energy Markets
08.07.2025
Crude oil prices rose on Monday, driven by strong demand despite a larger-than-expected OPEC+ production hike and concerns over possible new U.S. tariffs. Brent crude climbed nearly 2% to $69.58 per barrel, while WTI crude jumped over 2% to $67.93 per barrel, reflecting optimism in the oil market.
Natural gas prices also saw gains, with the NBP spot price up 0.5% to 78.86 p/therm. This was supported by continued geopolitical tensions in the Middle East and expected lower wind power generation. However, the rise was capped by steady gas flows from Norway, with minimal maintenance planned due to the July holiday period.
In electricity markets, European spot power prices surged. German prices rose over 67% to 90 EUR/MWh as demand outweighed gains in wind and solar output. In France, prices increased nearly 20% to 37.50 EUR/MWh, impacted by an extended outage at the Chooz 2 nuclear reactor and reduced output at Bugey 2 due to heat.
However, forward markets were quieter. German Cal-2026 power fell 0.6% to 86.27 EUR/MWh, and the French equivalent dropped 1.2% to 62.68 EUR/MWh. Carbon prices also declined, with Dec-2025 EUAs down 0.7% to 71.20 EUR/tonne amid low trading volumes and attention turning to upcoming EU-US tariff talks.