Crude oil prices slipped on Thursday after OPEC said it expected demand for fuels to fall more than expected, although U.S. government data showing a fall in inventories suggested demand is returning despite the coronavirus pandemic.
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Prompt British wholesale gas prices slipped on Wednesday in a balanced market and with temperatures poised to dip from recent highs, curbing power demand for cooling.
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Oil prices moved higher on Wednesday after an industry report showed that U.S. inventories of crude fell more than analysts expected, bolstering hopes that fuel demand in the world’s biggest economy can weather the coronavirus pandemic.
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British wholesale gas prices declined on Tuesday morning as higher flows through the Langeled pipeline offset a drop in FLAGS pipeline supply due to maintenance.
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Crude oil gained more ground on Tuesday, with prices underpinned by expectations of U.S. stimulus and a rebound in Asian demand as economies reopen.
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British wholesale gas prices rose on Monday as weak wind output and demand for air conditioning amid hot weather boosted gas-for-power generation.
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Oil prices climbed on Monday, supported by Saudi optimism about Asian demand and an Iraqi pledge to deepen supply cuts, although uncertainty over a deal to shore up the U.S. economic recovery capped gains.
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Asian spot liquefied natural gas (LNG) prices jumped to a more than four-month high this week, tracking firmer gas prices in Europe and the United States, and as major cities in North Asia face warmer-than-usual weather potentially boosting demand. ›
Oil prices dipped on Friday, adding to losses from the previous session, on worries that fuel demand recovery will slow amid a resurgence of coronavirus cases and as talks have stalled in the United States on a new stimulus deal. ›
Oil prices were mostly flat on Thursday, as a boost from lower-than-expected U.S. crude stocks that lifted the market to five-month highs in the previous session gave way to fuel demand concerns amid rising coronavirus infections.
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