Energy Market monthly recap October 2023
Follow the energy market recap of October with our video and infographic!
- Article
- 07/11/2023

In October 2023, the global energy market experienced noteworthy trends and developments:
- Geopolitical Impact: Ongoing conflicts in the Middle East influenced oil and CO2 prices, resulting in fluctuations. By month-end, oil prices fell below $90 per barrel, and CO2 prices dropped below €80 per ton.
- Weather & Energy: Despite colder weather expectations, natural gas stocks remained comfortable, supporting stable gas prices. Windy weather forecasts contributed to strong renewable energy production.
- LNG Supplies: Norwegian gas and LNG supplies remained high, while the industry closely monitored the developments in LNG supplies from Qatar to Asia.
- Electricity & Nuclear: Despite an economic downturn in Europe, electricity prices benefited from gas market balance, and nuclear energy availability provided stability.
The energy market remains sensitive to geopolitical events, and supply and demand dynamics continue to evolve, making informed decisions essential for market participants.
Stay tuned with EnergyScan!