- May 18th, 2021
EUROPE POWER-Prompt up on lower wind supply as demand holds up
European prompt power prices rose on Tuesday due to lower German wind production and in a lasting cold spell that has driven demand levels to above seasonal averages.
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European prompt power prices rose on Tuesday due to lower German wind production and in a lasting cold spell that has driven demand levels to above seasonal averages.
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British wholesale gas prices corrected lower for a second day on Tuesday morning following a recent rally, amid a balanced system and weaker carbon prices.
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Oil prices extended gains on Tuesday as hopes of a solid recovery in fuel demand following the reopenings of the U.S. and European economies offset concerns over spreading COVID-19 cases in Asia.
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British wholesale gas prices fell on Monday morning after steep gains last week and as flows from Norway were re-routed to Britain from continental Europe.
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Oil prices drifted lower on Monday after the recovery of a major U.S. pipeline network eased concerns over supply, though fresh restrictions in Asia sparked by surging COVID-19 cases weighed on sentiment.
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British and Dutch gas prices mostly rose on Friday morning as forecasts for cooler than normal temperatures for May combined with low European gas stocks to lift most contracts.
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Oil prices fell on Friday after dropping about 3% a day earlier as coronavirus cases remained high in major oil consumer India and as a key fuel pipeline in the United States resumed operations after being shut due to a cyber attack.
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British wholesale gas prices fell on Thursday morning as European Union carbon prices retreated from record levels and on a balanced system.
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Oil prices fell 1% on Thursday as India’s coronavirus crisis deepened, halting a rally that had lifted crude to an eight-week high after the IEA and OPEC forecast a rebound in global demand.
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Oil prices rose on Wednesday after a drop in U.S. crude inventories reinforced OPEC’s robust demand outlook, while the market awaited fresh updates on the Colonial Pipeline outage.
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