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Energy Markets
07.10.2026
Oil prices were broadly flat on Tuesday as traders weighed improving supply prospects against ongoing geopolitical risks. Higher Middle Eastern exports and the planned G7 release of emergency stocks were offset by concerns over Houthi attacks in Yemen. Brent rose 0.3% to $100.58/bbl, while WTI was unchanged at $89.44/bbl.
UK gas prices rose as low EU storage levels and limited recovery in Middle East LNG exports kept supply concerns in focus ahead of winter. A developing Gulf of Mexico storm also raised the risk of disruption at the Plaquemines LNG facility. NBP spot prices gained 0.8% to 180.40 p/therm, while Summer 2027 surged 4% to 142.61 p/therm.
European spot power prices fell as stronger solar generation and milder weather eased near-term demand. German day-ahead prices dropped 5% to 192.03 EUR/MWh, while French prices fell 6.7% to 187.82 EUR/MWh. Further along the curve, firmer gas and carbon prices supported futures, with German 2027 rising nearly 3% to 133.52 EUR/MWh and French 2027 gaining 3% to 96.78 EUR/MWh.
European carbon prices rose on Tuesday after strong early buying, supported by firmer equities and natural gas. The market later consolidated, leaving Dec-2026 EUAs 1% higher at 84.78 EUR/tonne. The move higher provided some relief after recent weakness, with stronger energy markets helping to support carbon prices.