European spot electricity prices for the day-ahead delivery rose in wholesale trade on Thursday in response to forecasts for a fall in wind power generation, while the German year-ahead extended its slide due to lower carbon emissions, coal and oil prices.
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British wholesale gas prices declined on Thursday morning due to higher liquefied natural gas (LNG) send-out and expectations of stronger wind output.
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Oil prices were mixed on Thursday following three days of gains, with the prospect of rapidly dwindling demand due to coronavirus travel bans and lockdowns offsetting hopes a U.S. $2 trillion emergency stimulus will shore up economic activity.
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Spot electricity prices for the day-ahead fell on Wednesday in the European wholesale market on bearish fundamentals, but forward prices gained for the second day after a slump on Monday that was triggered by the coronavirus crisis. ›
British wholesale gas for day-ahead delivery was up on Wednesday morning on expectations of colder weather and lower wind output, while other contracts dipped slightly.
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Oil prices extended gains for a third session on Wednesday, rising alongside broader financial markets as the United States is expected to approve a massive aid package to stem the economic impact of the coronavirus pandemic.
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The day-ahead British wholesale gas price edged higher on Tuesday morning as forecasts for lower output from the country’s wind farms was expected to increase demand for gas from power stations.
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Oil prices rose around 4% on Tuesday on hopes that the United States will soon reach a deal on a $2 trillion coronavirus aid package that could blunt the economic impact of the outbreak and in turn support oil demand.
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British prompt gas prices fell sharply on Monday morning as temperatures were expected to rise, and demand for gas was weak.
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Brent crude prices extended falls on Monday amid more action by governments to contain the global coronavirus outbreak that has slashed the demand outlook for oil and threatened a worldwide economic contraction.
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