Energy Prices

Energy prices decreased 0.4% month on month in September, following August’s 4.0% fall.

Since the U.S. signed trade deals in August, the global energy market has moved into the eye of the storm, with price volatility in the oil market retreating to the lowest level so far in 2025 in August and September as the outlook for the world economy—and therefore energy demand—crystallized somewhat. In September, WTI and gasoline prices fell due to record U.S. oil output and the end of summer travel. Thermal coal prices also dipped. That said, Brent and diesel prices rose after Ukrainian attacks on Russian refineries, and U.S. natural gas prices gained as domestic supply fell and as colder weather and record LNG exports aided demand. Moreover, coking and uranium prices rose. European natural gas prices, meanwhile, remained largely steady as the EU stayed on track to meet storage targets.