British wholesale gas prices on Monday morning rose to their highest levels since December 2018, buoyed by forecasts of cold weather and competition to attract shipments of liquefied natural gas (LNG).
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Oil prices fell on Monday on renewed concerns about global fuel demand amid strict coronavirus lockdowns in Europe and new movement restrictions in China.
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Oil prices on Friday hit 11-month highs and were on track for a strong weekly gain as a rally in global equities fed risk appetite and stoked bullish sentiment following Saudi Arabia’s pledge to cut output.
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British wholesale gas price rose on Thursday morning as forecasts for the second half of the month showed lower temperatures than previously expected and imports through the InterconnectorUK dropped.
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Oil prices rose almost 1% on Thursday after a fall in U.S. stockpiles added further support following the unilateral decision by Saudi Arabia, the world’s biggest exporter, to cut output over the next two months.
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British wholesale gas price rose on Wednesday morning as forecasts for lower output from the country’s wind farms and cooler temperatures lifted demand for gas.
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Oil prices rose on Wednesday to their highest since February 2020 after Saudi Arabia agreed to reduce output more than expected in a meeting with allied producers, while industry figures showed U.S. crude stockpiles were down last week.
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Oil prices were little changed on Tuesday before deadlocked talks between major producers about potential changes in February output are set to continue later in the day while fuel demand concerns lingered amid new COVID-19 lockdowns.
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British prompt wholesale gas prices rose to rose to two-year highs on Monday morning as colder temperatures drove up heating demand and as liquefied natural gas supply was low. ›
Oil prices touched multi-month highs on Monday on expectations that OPEC and allied producers may cap output at current levels in February as the coronavirus pandemic keeps worries about first-half demand elevated. ›
