- October 17th, 2019
UK GAS-Prompt prices decline on lower consumption forecasts
British prompt wholesale gas prices were flat to lower on Thursday morning on a balanced system and lower consumption expected for next week.
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British prompt wholesale gas prices were flat to lower on Thursday morning on a balanced system and lower consumption expected for next week.
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Oil prices fell by 1% on Thursday after industry data showed a larger-than-expected build-up in stocks in the United States, although losses were limited by comments by U.S. Treasury Secretary Steven Mnuchin on a U.S.-China trade deal.
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British prompt wholesale gas prices fell on Wednesday as a rise in Norway’s total exports to Europe and strong wind power output caused an oversupply in the system.
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Oil prices rose on Wednesday, tracking gains in equities, as investors pinned hopes on a potential Brexit deal between Britain and the European Union and on signals from OPEC and its allies that further supply curbs could be possible.
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Oil prices fell on Tuesday, after heavy losses in the previous session, as two days of weak Chinese data added to worries about the top crude oil importer’s energy demand growth.
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Stronger demand and a forecast fall in German wind power generation drove slight gains in European spot electricity prices for next day delivery on Monday.
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British prompt wholesale gas prices jumped on Monday as demand for gas used in power generation rose due to low winds while the overall system was undersupplied partly due to lower contributions from LNG terminals.
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Oil prices eased on Monday as scant details on the first phase of a trade deal between the United States and China undercut last week’s optimism over a U.S.-Sino thaw that helped to lift crude markets by 2% at the end of last week.
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Oil prices jumped by 2% on Friday after Iranian news agencies said a state-owned oil tanker was struck by two missiles in the Red Sea near Saudi Arabia, raising the prospect of supply disruptions from a crucial producing region.
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Oil prices eased on Thursday on the expectations that the resumption of U.S.-China talks will not end the trade war between the world’s two largest oil consumers, exacerbating anxiety over the global economy and fuel demand.
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