Crude oil prices soared on Friday, bolstered by rising tensions in the Middle East following a missile attack on an Iranian tanker. Hence, Brent crude traded 2.4% up at $60.51, while WTI futures rose by 2.2% to $54.70 a barrel.

British day-ahead wholesale gas prices jumped on Friday on expectations for a rise in gas demand. NBP spot closed 4.7% higher at 23.20 p/therm. On the curve, however, prices lost ground as the UK gas gas system is still oversupplied. The contract for delivery in Summer 2020 fell by 0.6% to 44.04 p/therm.

European spot electricity prices extended their fall on Friday. The French prompt power price dropped by 10.4% to 24.99 EUR/MWh due to milder temperatures. In the meantime, the German equivalent contract plunged by 24% to 19.73 EUR/MWh amidst huge wind output and decreasing demand.

Further on the curve, power prices strengthened, tracking higher carbon and gas prices. The German Cal 2020 delivery contract advanced by 2.8% to 48.27 EUR/MWh, while the French equivalent contract was 2.7% higher at 51.26 EUR/MWh.

European carbon prices jumped on Friday, supported by stronger oil prices and growing optimism over a potential Brexit deal. The price for the contract expiring in 2020 hiked by 5% to 24.63 EUR/tonne.