European spot electricity prices on Tuesday dropped on more supply and falling usage while forward prices tracked stronger fuels and carbon prices, recovering some ground after the coronavirus crisis curbed industrial demand projections.

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Oil recovered ground on Tuesday after U.S. President Donald Trump and Russian President Vladimir Putin agreed to talks to stabilise energy markets, with benchmarks climbing off 18-year lows hit as the coronavirus outbreak cut fuel demand worldwide.

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European prompt power prices rose on Monday as a late cold spell, with temperatures in the low Celsius digits, boosted short-term demand. ›

The British within-day gas price was lifted by an undersupplied system on Monday morning, while other contracts fell under pressure from continued weak demand.

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Crude oil benchmarks fell sharply on Monday, with Brent hitting its lowest since November 2002, as fears grew over the coronavirus pandemic eroding demand and the Saudi Arabia-Russia price war threatened to overload the market.

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European baseload spot power prices for early next week delivery fell in wholesale trade on Friday as forecasts showed a drop in French demand, while electricity generation from French wind turbines will rise.

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British wholesale gas prices fell on Friday morning as supplies from Norway rose, while gas demand for power generation was forecast lower due to higher wind power output.

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Oil prices were mixed on Friday as governments took unprecedented steps to limit the economic fallout from the coronavirus pandemic.

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European spot electricity prices for the day-ahead delivery rose in wholesale trade on Thursday in response to forecasts for a fall in wind power generation, while the German year-ahead extended its slide due to lower carbon emissions, coal and oil prices.

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British wholesale gas prices declined on Thursday morning due to higher liquefied natural gas (LNG) send-out and expectations of stronger wind output.

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