Crude oil prices retreated by 1% on Monday amid thin holiday trading

Crude oil prices retreated on Monday as markets cautiously reopened after the holiday weekend and session volumes stayed low due to the closed European markets. Hence, Brent crude declined by 1% compared with Thursday’s session to close at $84.18 a barrel. Meanwhile, U.S. WTI crude decreased by 1% to settle at $79.74 a barrel.

There was no trading activity on Monday due to Easter Holidays. NBP spot was last seen at 100 p/therm. The contract for delivery in Win23 remained at 143.44 p/therm.

European spot electricity prices fell sharply on Monday as forecasts showed strong wind power generation from Tuesday.?The German day-ahead power plummeted by about 49% to 59.99 EUR/MWh. The French equivalent contract slumped by 22% to 90.61 EUR/MWh.

There was no trading activity for EUAs on Easter Monday. The price for the carbon contract expiring in December 2023 was last seen at 96.66 EUR/tonne.

Source: www.energymarketprice.com