Oil prices were set for their worst weekly drubbing since the 2008 financial crisis, despite eking out a 2% on Friday, as investors eyed evaporating demand from the coronavirus pandemic and a production ramp-up by top producers.
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British wholesale gas prices fell on Thursday morning, amid a weaker energy complex, weighed by higher supply and expectations of lower demand.
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Oil prices fell for the second straight day on Thursday amid a broad decline in global markets after the United States banned travel from Europe following the World Health Organization’s decision to declare the coronavirus outbreak a pandemic.
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Prompt power prices were down in European wholesale market trading on Wednesday as German wind power supply was forecast to rise nearly by a third day-on-day, overriding the bullish effect of higher demand in Europe. ›
British wholesale gas prices were mostly slightly higher on Wednesday morning as consumption rose and liquefied natural gas and Norwegian flows decreased. ›
Oil prices fell on Wednesday, giving up earlier gains, after Saudi Aramco said it had been directed by the energy ministry to raise its production capacity by a million barrels per day. ›
Prompt British wholesale gas prices edged higher on Tuesday as supply from the country’s liquefied natural gas (LNG) terminals fell.
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Oil prices jumped by 5% on Tuesday after the biggest one-day rout in nearly 30 years, as investors eyed the possibility of economic stimulus, although early gains were pared on demand concerns over the global spread of the coronavirus.
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Oil fell by the most since 1991 on Monday after Saudi Arabia started a price war with Russia by slashing its selling prices and pledging to unleash its pent-up supply onto a market reeling from falling demand because of the coronavirus outbreak.
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Prices of Asian spot liquefied natural gas (LNG) edged up this week as supply for cargoes to be delivered in April tightened, but traders expected prices to remain low for a while as demand continued to be weak amid the coronavirus outbreak. ›
