Global energy prices traded mixed as oil benchmarks slipped, European gas rallied sharply, and uranium continued its strong 2026 run amid supply-demand recalibration.
Oil under pressure:
Crude oil fell 1.86% to $64.20/bbl, while Brent dropped 1.80% to $68.34/bbl, reflecting demand concerns and profit-taking after a strong monthly rebound. Despite the daily fall, both benchmarks remain up nearly 12% month-to-date, though still deep in negative territory on a YoY basis.
Gas markets diverge:
Natural gas declined 1.67%, but European benchmarks outperformed.
• TTF Gas surged 3.82% daily and over 45% monthly, signaling renewed supply tightness in Europe.
• UK Gas gained 3.29%, though weekly prices remain volatile.
Heating fuels volatile:
Heating oil saw the sharpest fall, down 4.87%, while gasoline slipped 1.42%, tracking crude weakness.
Coal steady, nuclear strong:
Coal edged up 2.43%, maintaining stability amid energy transition demand.
Uranium jumped 3.31% on the day and is up over 42% YoY, reinforcing its position as one of the strongest-performing energy commodities in 2026.
Industrial fuels mixed:
Naphtha and methanol posted modest gains, while propane and ethanol remained under pressure.
Market takeaway
Energy markets are entering a selective upcycle—oil faces macro headwinds, European gas reflects geopolitical and weather risks, and uranium continues to benefit from long-term nuclear investment themes.
