- January 29th, 2020
UK GAS-Prices fall as temperatures turn warmer and wind power rises
Prompt British wholesale gas prices fell on Wednesday morning, as forecasts for warmer temperatures and strong wind power output curbed demand.
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Prompt British wholesale gas prices fell on Wednesday morning, as forecasts for warmer temperatures and strong wind power output curbed demand.
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Oil prices rose for a second day on Wednesday, recouping some losses after a five-day rout on talk that OPEC could extend oil output cuts if a new coronavirus hurts demand, while data showing a decline in U.S. stockpiles helped steady prices.
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European spot electricity prices on Tuesday were mixed, with those in Germany falling due to more wind power production and those in France firming because of tighter nuclear supply.
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British wholesale gas prices rose early on Tuesday, supported by colder weather and lower liquefied natural gas (LNG) supply.
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Oil futures steadied on Tuesday after five days of declines on concerns a virus outbreak in China could dent demand for oil, with some analysts suggesting the falls may be overdone.
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Prompt British wholesale gas prices edged higher on Monday as lower output from liquefied natural gas (LNG) terminals and strong demand for heating left the market undersupplied. ›
Crude prices fell more than 2% to multi-month lows on Monday as the rising number of cases of the new coronavirus in China and city lockdowns there deepened concerns over oil demand.
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European prompt power prices for early next week fell sharply in Friday trading on the European wholesale market, due to forecasts for German wind power supply to more than double while usage was predicted to fall.
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British wholesale gas for immediate delivery inched down on Friday morning, as forecasts for strong output from the country’s wind farms and curbed gas demand for power.
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Oil prices climbed on Friday, following a drawdown in U.S. crude stocks, but were set to fall heavily for the week amid worries that a new coronavirus in China that has killed 25 so far may spread, curbing travel, fuel demand and economic prospects.
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