British gas prices continued to fall on Monday amid healthy stocks, mild weather

Crude oil prices?rebounded after plummeting to their lowest levels in 15 months the previous day. However, fears over further contagion from the banking crisis continued to dominate crude trading. Hence,?Brent crude?rose by 82 cents, or 1.1%, to settle at $73.79 a barrel.?U.S. WTI crude?gained 90 cents, or 1.4%, at $67.64 on the eve of the contract's expiry.

British gas prices?continued to fall on Monday, with?NBP spot?trading 10.3% lower at 91.00 p/therm amid unprecedently healthy stock levels and mild conditions. Along the forward curve,?the gas price for Sum-23 delivery?shed by about 9% to 99.11 p/therm as supply is expected to continue outstripping demand, allowing for potential storage injections.

European spot electricity?prices soared on Monday amid lower wind generation.?The German day-ahead power?gained 5.2% to 115.05 EUR/MWh, while?the French equivalent contract?increased by 6% to 116.53 EUR/MWh.

Front-year power prices?diverged amid bearish gas and bullish carbon prices.?The German Cal’24 power?fell by 4.5% to 130.25 EUR/MWh, while?the similar contract in France?rose by 1.4% to 179.99 EUR/MWh.

European carbon prices?increased marginally on Monday, mainly as compliance demand continued to pick up.?EUAs expiring in Dec-23?added 0.6% to 87.83 EUR/tonne.