European spot electricity prices for day-ahead delivery rose on Monday as forecasts showed an increase in German power consumption, while week-ahead contracts plunged on a mild weather outlook.

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Prompt British wholesale gas prices rose on Monday morning as drop in supply from the country’s liquefied natural gas (LNG) terminals left the system undersupplied.

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Oil prices on Monday slid off near three-month highs hit last week as investors searched for clarity beyond the initial impact of a trade deal between the United States and China that’s expected to boost flows between the top two global economies.

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Prompt British wholesale gas prices fell on Friday, giving up strong gains made on Thursday as forecasts for warmer temperatures than previously expected curbed demand for gas.

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Oil prices extended gains on Friday, scaling three-month highs as the United States and China moved closer to a resolution to the 18-month trade war between the world’s two biggest economies that has raised big questions about global demand for crude.

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Prompt British wholesale gas prices edged lower on Thursday morning on an influx of liquefied natural gas (LNG) cargoes to UK terminals, stronger Norway flows and an expected drop in demand.

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Oil prices rose on Thursday, recouping some of the losses from the previous session that followed a surprise increase in U.S. crude inventories, as the market mood switched to relief after OPEC forecast a supply deficit next year.

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Germany’s over-the-counter baseload power contract for day-ahead delivery posted strong gains in wholesale trade on Wednesday, supported by forecasts showing a sharp drop in wind power generation.

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Oil prices fell on Wednesday after industry data showed an unexpected build in crude inventory in the United States and as investors waited for news on whether a fresh round of U.S. tariffs on Chinese goods would take effect on Sunday.

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The December 2019 edition of the Energy Services newsletter is now available! ›