Oil fell by the most since 1991 on Monday after Saudi Arabia started a price war with Russia by slashing its selling prices and pledging to unleash its pent-up supply onto a market reeling from falling demand because of the coronavirus outbreak.

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Prices of Asian spot liquefied natural gas (LNG) edged up this week as supply for cargoes to be delivered in April tightened, but traders expected prices to remain low for a while as demand continued to be weak amid the coronavirus outbreak. ›

European spot electricity prices for early next week delivery rose on Friday, boosted by forecasts showing a fall in German wind power generation and French nuclear power supply. ›

British wholesale gas prices fell on Friday morning as temperatures and wind power output were set to rise to above normal levels, denting gas demand. ›

Oil prices slid more than 4% on Friday to their lowest since July 2017 after Reuters reported that Russia will not agree to steeper oil output cuts by OPEC and its allies to support prices. ›

European spot electricity prices for day-ahead delivery slumped on Thursday, pressured by forecasts showing a doubling in German wind power generation and a fall in consumption. ›

British wholesale gas prices mostly declined on Thursday morning, despite an undersupplied system, due to lower demand.

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Oil prices climbed higher on Thursday ahead of an OPEC meeting in which Saudi Arabia is expected to push the group and its allies including Russia to agree to further output cuts to support the market.

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British wholesale gas prices fell on Wednesday morning due to oversupply.

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Oil prices rose on Wednesday on hopes that major producers have made progress towards sealing an agreement to implement deeper output cuts aimed at offsetting the slump in demand caused by the global coronavirus outbreak.

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