Oil prices climbed on Wednesday, recouping some overnight losses from a stronger dollar and demand concerns, with a slow production restart in the U.S. Gulf of Mexico and resumption of refining activities providing support.
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British wholesale gas prices fell on Tuesday, as warm weather and forecasts for stronger wind in coming days kept the system oversupplied.
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European wholesale spot power prices dipped on Tuesday as wind and solar supply were seen rising in Germany.
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Oil prices were mixed on Tuesday as some investors scooped up bargains following recent losses, while Saudi Arabia’s sharp cuts in crude contract prices for Asia sparked fears over slower demand and weighed on sentiment.
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The European power futures benchmark at Monday noon was just below an earlier price record, driven by bullish related fuels and carbon, while spot power also had a bull run on negligible wind supply and rising demand.
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Oil prices were mixed on Friday after a strong rise in the previous session on a weaker dollar and a fall in U.S. crude stocks and were set for modest weekly gains ahead of a highly anticipated U.S. monthly jobs report. ›
Oil prices fell on Thursday after OPEC+ agreed to keep its policy of gradually returning supply to the market at a time when coronavirus cases around the world are surging and many U.S. refiners, a key source of crude demand, remained offline. ›
Oil prices recovered on Wednesday, after a U.S. industry report showed crude inventories fell more than expected last week, steadying after overnight losses from the impact of Hurricane Ida on U.S. refineries. ›
Oil prices slipped on Tuesday amid concerns that power outages and flooding in Louisiana after Hurricane Ida will cut crude demand from refineries at the same time global producers plan to raise output. ›
Oil prices rose on Friday, on track to post big gains for the week, on worries about supply disruptions as energy companies began shutting in production in the Gulf of Mexico ahead of a potential hurricane forecast to hit on the weekend.
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