Last week's drop in oil prices - which accelerated after the Democrats' unexpectedly large victory in the US midterm elections - was the biggest weekly decline since April 2020. But prices fell from an unusually high level, having reached a new six-month high as recently as the end of October.
Before the US and Israel began their bombing campaign against Iran at the end of February, oil was trading at around $70 per barrel.
However, gas prices - which affect Swedish electricity prices through gas-fired power generation in the EU - are rising in Monday's trading. In futures trading on the Amsterdam Commodity Exchange, the price is up 1 percent to €86.50 per megawatt hour.
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