Market view – The Daily News of 20/10/2025
GAS & POWER →
-
The ongoing maintenance work at the Oseberg production field has been extended until Friday, with export capacity from the North Seas still limited throughout the remaining part of the month.
-
Temperatures growing throughout the week, with values on average higher than the averages for the period. The current picture of instability is expected to last throughout the remainder of the month, with a new descent of cold air now expected next week. Wind availability in Northern Europe is growing in the coming days.
-
The generation capacity of the French nuclear park is expected to grow in the coming weeks, to exceed the 50 GW threshold by the first week of November. In the last week, the Flamanville 3 nuclear power plant, which came into operation last December (the first new plant since 1999), was finally reconnected to the grid. The reactor is expected to reach full capacity by the end of autumn.
-
According to Reuters, Venture Global discussed Friday with DTEK, one of Ukraine’s main energy groups, to increase LNG supplies already scheduled in the coming months. The recent Russian raids have in fact inflicted considerable damage on Kiev’s gas infrastructure, forcing the country to plan an increase in imports to cope with the winter season.
ITALIA →
-
Short system: consumption rebounded at the start of the week, at the highest since the last four years for the period. On the first 20 days of the month, Italian gas demand grew by 6% compared to 2024, positioning itself at its highest since the post-pandemic period.
-
On the supply front, there is an increase in supplies arriving from North Africa, at the highest since the beginning of the summer, while as expected the sendout from the Piombino terminal was eliminated this morning, maintenance also scheduled for tomorrow.
EQUITY ↓
-
The European stock markets are trying to set the week upwards, in the wake of the rebound recorded on Friday by Wall Street. Traders find themselves more confident that China and the United States can quickly reach an agreement on tariffs, following President Trump’s latest statements.
-
On the difficult geopolitical front, the meeting held on Friday at the White House, with increasing pressure from the American administration on Kiev to achieve peace even at the cost of giving in on territorial integrity. More details are expected in the next few days on the Budapest summit with the presence of Russian President Putin.
-
Chinese growth slowed for the third consecutive month, but confirmed analysts’ expectations, with an annual change in GDP estimated at +4.8%. US inflation data is expected on Friday, the publication of which remains guaranteed despite the continuation of the administrative shutdown, which has reached its twentieth day.
-
Exchange rate €/$ at 1,166
OIL ↓
-
Crude oil prices are confirmed under pressure, reaching three consecutive weeks of declines. The prospects of oversupply relaunched by the International Energy Agency have weighed particularly heavily on the sentiment of recent sessions. U.S. President Trump later renewed an ultimatum in New Delhi over the weekend for a halt to Russian oil imports.
-
At the start, Brent FM prices stand at $60.85/bbl
EUAs →
-
The challenge continues at the “psychological” threshold of 80 €/ton, tested again in the first exchanges this morning. Possible volatility increasing in the coming sessions, with conflicting indications coming from the gas and renewed tension on different geopolitical fronts.
-
At the beginning, prices on DEC25 stand at 79.30 €/tonne
