Oil prices edged lower on Friday after OPEC+ ministers delayed their output policy meeting, with sources saying the United Arab Emirates had balked at plans to return 2 million barrels per day (bpd) to the market in the second half of the year.
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British and Dutch wholesale gas prices continued to rise on Thursday morning, amid a global gas rally, as maintenance outages, high liquefied natural gas prices, low storage and less pipeline supply stoked buying.
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Oil prices edged higher on Thursday, supported by lower U.S. inventories, as investors waited for a decision from key producers on whether they would maintain or reduce supply cuts in the second half of the year.
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British wholesale gas prices firmed on Wednesday morning to fresh multi-year highs, amid lower flows from Norway, wider supply concerns and as storage levels remain very low.
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European power futures on Wednesday hit new contract records on a firm fuel and carbon prices complex which interacts with electricity, boosted by EU policymakers’ plan to strengthen the carbon trading system and firm oil fundamentals.
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Oil prices on Wednesday extended the previous day’s small gains after an industry report showed U.S. crude stockpiles fell last week, overriding trader and investor concerns about transportation curbs in some countries as COVID-19 cases surge.
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British prompt wholesale gas prices edged up on Tuesday morning, amid an expected drop in Norwegian flows from tomorrow, weak wind output and low stocks in storage.
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Oil prices dropped for a second day on Tuesday on worries about slower fuel demand growth as outbreaks of the highly contagious COVID-19 variant Delta sparked new mobility restrictions around the world.
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Rising consumption and weak renewable output drove European spot power prices up on Monday while lower French nuclear availability also lent support.
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British wholesale gas prices edged lower on Monday morning as an increase in imports from Norway and strong domestic supply left Britain’s gas system slightly oversupplied.
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