Global Energy Markets Slip as Crude Extends Losses; Gas Prices Diverge : 24 November 2025

LONDON, Monday — International energy markets were mixed on Monday, with crude oil sliding further as geopolitical de-escalation and concerns about global demand continued to weigh on sentiment. Gas markets moved in divergent directions, while refined fuels and industrial energy commodities showed pockets of resilience.

Crude Oil Under Pressure

WTI crude oil fell slightly to $58.05 per barrel, down 0.02% on the day and marking a 3.02% weekly decline. The U.S. benchmark has now shed 19% year-to-date, pressured by easing geopolitical tensions and growing expectations of stable or declining winter demand.

Brent crude was marginally positive, ticking up 0.02% to $62.58, but remained on a 2.57% weekly and 3.63% monthly decline. Analysts attribute the subdued performance to higher-than-expected global inventories and soft economic activity in major consuming regions.

Gas Markets Send Mixed Signals

U.S. natural gas dropped sharply by 2.68% to $4.46 per MMBtu, snapping last week’s rally. Despite the pullback, the commodity remains 22.69% higher year-to-date as colder weather forecasts and LNG export strength continue to support the market.

In Europe, TTF gas in the Netherlands fell 3.08% to €30.20/MWh, extending year-to-date losses to a steep 40.15%, as storage levels remain unusually high for the season.
UK natural gas also retreated 3.62% to 78.56 pence/therm, reflecting similar demand softness.

Refined Products Mixed

Gasoline prices firmed 0.43% to $1.883/gal, even as overall weekly performance showed a 4.97% decline.
Heating oil fell 0.80% to $2.436/gal despite being up 5.16% year-to-date, driven by fluctuating winter demand expectations.

Naphtha, a key petrochemical feedstock, slipped 0.45% to $530.46/ton, continuing its monthly downtrend.
Ethanol edged up 0.29% to $1.72/gal, stabilizing after recent volatility.

Coal, Uranium and Other Industrial Fuels

Thermal coal traded almost flat at $110.90/ton, maintaining a 6.94% monthly gain despite being down 11.46% since January.

Uranium eased 0.46% to $75.85/lb, but remains higher year-to-date as nuclear expansion plans in several countries maintain long-term demand prospects.

Propane was unchanged at $0.65/gal, while methanol, widely used in industrial chemicals, dropped 0.56% to CNY 1,966/ton, extending its substantial -28.95% YTD decline.

Outlook

Market analysts expect continued volatility across energy commodities as winter demand forecasts shift and global supply patterns stabilize. Traders are watching U.S. inventory data, Chinese industrial indicators, and the upcoming OPEC+ policy guidance for further price direction.