Global energy markets ended the session on a mixed note on January 2, with crude oil and natural gas under pressure, while select European gas benchmarks, uranium, and coking coal showed relative strength.
Crude oil prices weakened marginally, with WTI crude trading at $57.33 per barrel, down 0.16% on the day. Brent crude also slipped 0.10% to $60.79 per barrel, reflecting continued caution around global demand outlooks and macroeconomic uncertainty. On a monthly basis, crude oil has declined 2.75%, while Brent is down 3%, underlining persistent pressure in the oil complex.
Natural gas remained the weakest performer across the energy basket. US natural gas prices fell 0.07% to $3.64 per MMBtu, extending losses to a sharp 27.11% decline over the past month. Despite the steep monthly fall, natural gas remains up 8.56% year-on-year, suggesting longer-term volatility rather than a structural breakdown.
Refined fuels also traded lower. Gasoline prices declined 0.58%, while heating oil slipped 0.31%, tracking the broader weakness in crude. Ethanol prices edged down 0.32%, continuing their subdued trend.
In contrast, European gas markets showed resilience. TTF Gas rose 2.15% to €28.80 per MWh, while UK Gas gained 1.25% and German Gas climbed 1.55%, supported by short-term supply tightness and seasonal demand expectations. However, these benchmarks remain significantly lower on a year-on-year basis, with declines ranging between 39% and 42%.
Among other energy-linked commodities, uranium prices held steady at $81.65 per pound, posting a strong 7.08% monthly gain and remaining up 8.87% year-on-year, reflecting sustained interest in nuclear energy. Coking coal also advanced 0.69% to $220 per tonne, extending its positive momentum with a 5% monthly rise.
