- May 31st, 2019
UK GAS-Prices decline on warmer temperatures, strong wind output
British wholesale gas prices declined on Friday morning as demand ebbed due to higher temperatures and strong wind power output.
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British wholesale gas prices declined on Friday morning as demand ebbed due to higher temperatures and strong wind power output.
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Oil prices fell by more than 1% on Friday and were on track for their biggest monthly fall since November as trade conflicts spread and U.S. crude output returned to record levels.
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British wholesale gas prices fell on Thursday, trading at multi-year seasonal lows, as warm weather dampened demand and liquefied natural gas (LNG) sendout levels remained at elevated levels.
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Oil prices rose on Thursday after an industry report showed a bigger-than-expected decline in U.S. crude inventories, although concerns that the U.S.-China trade war will trigger an economic downturn kept a lid on gains.
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British wholesale gas prices edged lower on Wednesday morning due to an oversupplied system and lower demand.
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British wholesale gas prices edged up on Tuesday morning, in quiet trade after a UK holiday, as weather forecasts showed a return to seasonal temperatures next week.
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Oil prices were mixed on Tuesday as supply cuts, led by producer club OPEC, and U.S. sanctions on fuel exports from Iran and Venezuela supported crude, while concerns about an economic slowdown weighed on the market.
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Oil prices recouped around 1% on Friday but were on track for their biggest weekly loss this year after swelling inventories and jitters over an economic slowdown led to big falls earlier in the week.
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British wholesale gas prices fell on Thursday morning, with gas for immediate delivery at a one-month low, due to oversupply.
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Oil prices dropped by around 1% on Thursday, extending falls from the previous session amid surging U.S. crude inventories and weak demand from refineries.
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