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Energy Markets
14.11.2025
Crude oil prices rose on Thursday after U.S. lawmakers ended the country’s longest government shutdown, easing concerns about fuel demand and restoring access to key economic data. Brent crude gained 0.5% to $63 per barrel, while WTI rose 0.3% to $58.69. The funding bill, approved by the House and signed by President Trump, keeps the government open until at least January 30.
British gas prices moved higher, with the spot contract up 0.7% to 68.50 p/therm. Demand increased as colder weather set in, while supply tightened due to an unplanned outage at Norway’s Karsto plant that reduced flows by about 9 mcm/day. Further along the curve, the Summer 2026 gas contract fell 1% to 73.59 p/therm, pressured by weak Asian demand and strong European LNG arrivals.
European power markets were mixed. Germany’s day-ahead electricity price jumped over 50% to 106.73 EUR/MWh because of forecasts for much lower wind output. Meanwhile, France’s day-ahead price dropped 17% to 26 EUR/MWh as robust nuclear availability reduced the need for more expensive generation. On the forward market, weaker carbon prices pushed the German 2026 contract down 0.8% to 88.34 EUR/MWh, while the French equivalent slipped 1% to 52.45 EUR/MWh.
EU carbon prices declined on Thursday under pressure from technical selling, weaker financial markets, and the largest recent auction discount following an IEA crude supply update. As a result, EUAs for December 2025 delivery slid 0.7% to 81.34 EUR/tonne.