CES Market Summary/February Insider

February 2025

Key Takeaways

Brent closed at $76.87 per barrel last week, down 2.1% week-over-week. WTI fell 2.9% week-over-week to $72.53 per barrel. Starting February 4th, Trump announced a 25% tariff on Canada and Mexico, with a 10% tariff on energy from Canada and a 10% tariff on goods from China. The NYMEX prompt month fell by $0.98 week-over-week to $3.04/MMBtu as the prompt month moved to March, a 24.4% decrease. The rolling 12-month strip declined $0.30 week-over-week to $3.69/MMBtu, a 7.6% fall. Heating demand dropped across the U.S. following last week’s cold snap, but New England spot prices remain elevated. The NEPOOL 12-month electricity strip was down 3.58% week-over-week to $65.03/MWh. The 2026, 2027, and 2028 calendar year strips all declined in price week-over-week.

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A graduate of Bowdoin College’s Government and Environmental Studies program and Vermont Law School’s Masters of Energy Regulation and Law...

Photo by Nina Callanan

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