- May 15th, 2019
UK GAS-Prices edge lower in oversupplied market
Prompt British wholesale gas prices edged lower on Wednesday as oversupply weighed on the market.
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Prompt British wholesale gas prices edged lower on Wednesday as oversupply weighed on the market.
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Oil fell on Wednesday after data showed a surprise rise in U.S. crude stockpiles and as Chinese industrial output grew less than expected in April, but prices were supported by mounting tensions in the Middle East.
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British wholesale gas prices were mixed on Tuesday after heavy falls in the previous session, with the within-day contract recovering some ground and the day-ahead price slipping in a oversupplied market.
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Oil prices were moving higher on Tuesday, though gains were checked amid an escalation in the trade war between the United States and China.
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Prompt British wholesale gas prices fell more than 10% on Monday morning as forecasts for warmer weather curbed demand, leaving the system oversupplied.
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Oil futures rose on Monday on increasing concerns about supply disruptions in the crucial producing region of the Middle East even as investors and traders fretted over global economic growth prospects amid a standoff in the Sino-U.S. trade talks.
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European spot power prices for Monday were down in Friday wholesale trading on forecasts for lower consumption and more wind and solar power supply in Germany.
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British wholesale gas prices rose on Friday morning due to lower imports from Norway and low wind generation.
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Oil prices rose on Friday despite the start of U.S. President Donald Trump’s tariff hike on $200 billion (153 billion pounds) of Chinese goods, stoking the trade dispute between the world’s two biggest economies.
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Oil prices dropped on Thursday amid concerns over the escalating trade battle between the United States and China, despite a surprise fall in U.S. crude stockpiles.
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