- May 10th, 2019
UK GAS-Prices rise on undersupply, low wind output
British wholesale gas prices rose on Friday morning due to lower imports from Norway and low wind generation.
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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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European spot electricity prices for day-ahead delivery fell on Tuesday, weighed down by an expected fall in demand due to mild weather and a public holiday in France, Belgium and the Czech Republic on Wednesday, while German wind power generation will rise.
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British wholesale gas prices fell on Tuesday due to an increase in Norwegian gas flows and as weather forecasts indicated stronger wind power production and higher temperatures in coming days.
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Oil prices were mixed on Tuesday, pressured by concerns that the escalating Sino-U.S. trade dispute could slow the global economy, while U.S. sanctions on crude exporters Iran and Venezuela helped keep the market on edge.
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