Energy markets traded mixed on July 7, with crude oil and Brent crude recovering around 0.6%, while European natural gas posted the strongest daily gains. U.S. natural gas, however, edged lower amid mixed demand expectations.
Key Highlights
- Crude Oil rose 0.60% to $68.97/bbl, while Brent Crude gained 0.65% to $72.46/bbl, recovering after last week's weakness.
- EU Natural Gas jumped 3.26%, the biggest gain among major energy commodities, extending its weekly rise to 4.86%.
- U.S. Natural Gas declined 0.27% to $3.24/MMBtu, although it remains up 2.84% over the past month.
- Gasoline climbed 0.34%, with prices still showing a strong 76.14% gain year-to-date, reflecting resilient fuel demand.
- Heating Oil added 0.59%, while Ethanol advanced 1.32% and Naphtha rose 1.12%.
- Coal (-0.31%), UK Gas (-2.81%), Propane (-0.06%), and Uranium (-0.23%) ended lower.
Market Snapshot
| Commodity | Price | Daily Change |
|---|---|---|
| Crude Oil | $68.97/bbl | +0.60% |
| Brent Crude | $72.46/bbl | +0.65% |
| Natural Gas | $3.24/MMBtu | -0.27% |
| EU Gas | €45.79/MWh | +3.26% |
| Gasoline | $3.01/gal | +0.34% |
| Heating Oil | $3.32/gal | +0.59% |
Trend Watch
While oil prices recovered during the session, both WTI and Brent remain down more than 23% over the past month, highlighting continued volatility in global energy markets. Meanwhile, refined fuel products such as gasoline and heating oil continue to outperform on a year-to-date basis, whereas European gas remains highly sensitive to regional supply dynamics.
