Prompt British wholesale gas prices were mixed in quiet trade on Thursday morning, with higher supply expected in the coming days and reduced consumption.

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Oil rose on Thursday after industry data showed a surprise drop in U.S. crude inventories, while comments from an OPEC official about lower-than-expected U.S. shale production growth in 2020 also provided some support.

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European power prices for the coming week fell sharply in Wednesday wholesale market trading, as milder weather forecasts curbed demand. ›

Prompt British wholesale gas prices fell on Wednesday morning as high imports from Norway and strong liquefied natural (LNG) gas send-out to the grid meant there was apple supply to meet strong demand.

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Oil prices fell on Wednesday as prospects for a trade deal between the United States and China faded, weighing on the outlook for the global economy and energy demand.

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Britain’s prompt gas prices rose on Tuesday morning on cold weather demand, while longer-dated contracts traded lower due to overall strong supply and full gas stocks, a trend that has kept European gas prices low this year.

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Oil prices rose on Tuesday, reversing early losses on hopes that U.S. President Donald Trump may signal progress on trade talks with China in a speech later in the day.

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European prompt wholesale power prices rose to their highest level in 9 1/2 months on Tuesday after French utility EDF took three nuclear units with a capacity of 2,700 megawatts (MW) offline during this working week for earthquake-related tests.

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European week-ahead power prices rose in Monday afternoon trading on projections for increasing French power usage as temperatures are dropping in a market exposed to electric heating demand.

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Britain’s wholesale gas prices rose on Monday due to expectations for colder weather and consequently higher demand in coming days, with stronger carbon also lending support.

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