Oil prices slipped on Thursday amid persistent concerns about a weak demand outlook, after posting sharp gains in the previous session following a surprise crude inventory drawdown in the United States.

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Oil fell on Wednesday after climbing over 1% in the previous session as U.S. industry data showed a bigger-than-expected build in crude stocks, but the possibility of deeper output cuts from OPEC and its allies prevented a further decline.

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British prompt gas prices rose on Tuesday morning supported by a drop in Norwegian flows and expectations of higher demand from later this week.

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Oil prices edged lower on Tuesday as lingering worries over a global economic slowdown that could hurt demand offset some signs of progress in U.S.-China trade talks.

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European baseload electricity prices for year-ahead delivery rose to close to a month high on Monday, supported by firmer coal and carbon emissions permit prices, while day-ahead delivery contracts were mixed.

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The British day-ahead gas price fell on Monday as a rise in imports from Norway, caused by a boost in flows via Langeled, the largest pipeline between the two countries, oversupplied the system.

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Oil prices largely held steady on Monday, recouping some early losses as investors took stock of global economic pressures that could impact oil demand.

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Forecasts for lower wind supply in Germany next week boosted wholesale power market prices for Monday in Friday trading, and fundamentals in the interconnected region tightened on rising demand in France.

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Prompt British wholesale gas prices soared on Friday morning as a series of unplanned outages at gas sites reliant on the Forties pipeline system left the market undersupplied.

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The October 2019 edition of our Energy Newsletter is now available! ›