- May 13th, 2019
UK GAS-Prices slump as warmer weather returns
Prompt British wholesale gas prices fell more than 10% on Monday morning as forecasts for warmer weather curbed demand, leaving the system oversupplied.
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Prompt British wholesale gas prices fell more than 10% on Monday morning as forecasts for warmer weather curbed demand, leaving the system oversupplied.
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Oil futures rose on Monday on increasing concerns about supply disruptions in the crucial producing region of the Middle East even as investors and traders fretted over global economic growth prospects amid a standoff in the Sino-U.S. trade talks.
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European spot power prices for Monday were down in Friday wholesale trading on forecasts for lower consumption and more wind and solar power supply in Germany.
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British wholesale gas prices rose on Friday morning due to lower imports from Norway and low wind generation.
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Oil prices rose on Friday despite the start of U.S. President Donald Trump’s tariff hike on $200 billion (153 billion pounds) of Chinese goods, stoking the trade dispute between the world’s two biggest economies.
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Oil prices dropped on Thursday amid concerns over the escalating trade battle between the United States and China, despite a surprise fall in U.S. crude stockpiles.
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British wholesale gas prices rose on Thursday morning due to reduced gas supplies from Norway and a drop in wind generation.
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European prompt power prices gained in the main markets on Wednesday in anticipation of a return of French demand after a public holiday and on cool weather while German wind generation was forecast to remain stable at a low level.
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British wholesale gas prices were mixed on Wednesday, with an oversupplied system weighing on within-day prices and forecasts of lower wind generation leading to higher gas demand supporting day-ahead prices.
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Oil prices rose on Wednesday as U.S. sanctions on crude exporters Iran and Venezuela as well as ongoing supply cuts by producers have left markets tight just as crude imports to China rose to a record for April.
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