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Energy Markets
21.03.2025
Oil prices rose on Thursday after the U.S. imposed new sanctions on Iranian crude exports. Brent crude increased by 1.7% to $72 per barrel, while WTI rose by 1.4% to $68.07 per barrel.
Meanwhile, UK gas prices fell due to higher wind generation and warmer temperatures. The NBP spot price dropped by 3.3% to 103 p/therm, while the Summer 2025 contract declined by 1.4% to 103.72 p/therm.
European electricity prices also fell, with German and French day-ahead prices dropping by 32% and 33%, respectively, due to reduced heating demand. On the forward market, German power prices rose slightly, while French contracts declined.
European carbon prices weakened as traders took profits, and reports suggested Germany and France may ease gas storage rules from 2026. EU carbon allowances for December 2025 fell by 0.6% to 73 EUR/tonne.