- June 11th, 2019
Oil rises with financial markets, as longer supply cuts expected
Oil prices rose on Tuesday in line with firmer financial markets and bolstered by expectations that producer group OPEC and its allies will keep withholding supply.
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Oil prices rose on Tuesday in line with firmer financial markets and bolstered by expectations that producer group OPEC and its allies will keep withholding supply.
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British wholesale gas prices jumped on Monday as annual maintenance work in Norway reduced flows at the start of a week of chilly weather and few LNG tanker deliveries.
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Oil prices rose on Monday after Saudi Arabia said producer club OPEC and Russia should restrict supplies to current levels, while Washington’s withdrawal of a tariff threat against Mexico removed a cloud over the global economy.
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British wholesale gas prices rose on Friday as supplies from Norway fell ahead of maintenance on a large field, recouping some of the losses of recent days.
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Oil prices rose more than 1% on Friday, climbing further away from five-month lows hit earlier in the week after a report that Washington could postpone trade tariffs on Mexico and amid signs that OPEC and other producers may extend their supply cuts.
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British wholesale gas prices fell on Thursday morning as the market remained oversupplied for a second day, due to strong Norwegian gas flows.
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Oil prices firmed on Thursday after falling to near five-month lows in the previous session, but sentiment remained weak as markets remain under pressure from rising U.S. supply and a stalling global economy.
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European day-ahead power prices slipped in the wholesale market on Wednesday, pressured by forecasts showing a rise in German wind power generation and a fall in consumption in France.
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Prompt British wholesale gas prices largely fell on Wednesday morning on an oversupplied gas system and bearish signals from other energy commodities.
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Oil prices resumed their slide on Wednesday, dragged down by an unexpected gain in U.S. inventories and comments from the head of Russian state oil producer Rosneft questioning the point of a deal with OPEC to withhold supplies.
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