- December 6th, 2019
UK GAS-Prompt prices fall as warmer temperatures lead to oversupply
Prompt British wholesale gas prices fell on Friday morning, as a rise in temperature curbed demand for gas, leaving the system oversupplied. ›
Prompt British wholesale gas prices fell on Friday morning, as a rise in temperature curbed demand for gas, leaving the system oversupplied. ›
Asian spot prices for liquefied natural gas (LNG) dropped for a second consecutive week as supply flooded the market, overshadowing demand subdued by a winter that has been milder than average. ›
Oil edged lower on Friday as investors awaited a meeting of OPEC and its allies later in the day which is expected to formally agree to more output curbs in early 2020. ›
European wholesale power contracts for the day-ahead and the coming week fell on Thursday due to weakening demand and an influx of big German wind power supply volumes, while forward curve prices sagged tracking a fall in carbon.
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Prompt British wholesale gas prices fell on Thursday as rising temperatures reduced demand, leaving the UK system oversupplied.
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Oil prices edged lower on Thursday ahead of a key OPEC meeting where members are expected to weigh deeper output cuts in an effort to prop up prices and prevent a glut next year.
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Prompt British wholesale gas prices fell sharply on Wednesday morning, with the UK gas system oversupplied and rising temperatures expected to reduce demand.
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European wholesale power contracts for the day-ahead took different directions on Wednesday, while German annual baseload delivery next year dropped to its lowest level since Sept. 2018 as weaker carbon prices led the way.
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Oil gained on Wednesday ahead of meetings this week where OPEC and its allies are expected to extend production curbs to support the market, while industry data showing that U.S. crude stockpiles fell more than expected helped to lift prices.
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Prompt British wholesale gas prices fell on Monday, with rising temperatures lowering demand and supply expected to remain high.
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