Brent crude oil, coal and carbon prices returned to downward trends in March, impacting GB commercial electricity and gas contracts. Oil prices dropped 2% to average $57.4/bl as concerns increased that US storage levels were reaching full capacity.
The falls fed into coal prices, which dropped 4.9% over March and hit a five-year low of $56.9/t. The coal market was also affected by falling global demand levels, which have increased oversupply in the market.
The carbon market was also bearish, with priced dropping 7% to average €6.8/t as talks on proposed market reforms slowed. Prices hit a five-month low of €6.3/t in the month.