- February 26th, 2021
UK GAS-Prices edge higher on colder, less windy forecasts for next week
British wholesale gas prices edged up on Friday morning on expectations of colder temperatures and weaker wind output at the start of next week.
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British wholesale gas prices edged up on Friday morning on expectations of colder temperatures and weaker wind output at the start of next week.
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Oil prices fell on Friday as a collapse in bond prices led to gains in the U.S. dollar and expectations grew that with oil prices back above pre-pandemic levels, more supply is likely to return to the market.
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Prompt British wholesale gas prices edged higher on Thursday morning, with temperatures set to drop and demand expected to rise from power plants.
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Oil prices extended gains for a fourth session on Thursday to reach the highest levels in more than 13 months, underpinned by an assurance that U.S. interest rates will stay low, and a sharp drop in U.S. crude output last week due to the storm in Texas.
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British wholesale gas prices fell on Wednesday as expectations of improving supply offset higher demand forecasts.
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Oil prices were lower on Wednesday after industry data showed a surprise build in U.S. crude stocks last week as a deep freeze in the southern states curbed demand from refineries that were forced to shut.
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Oil prices jumped by more than $1 on Tuesday, underpinned by optimism over COVID-19 vaccine rollouts and lower output as U.S. supplies were slow to return after a deep freeze in Texas shut in crude production last week.
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The British day-ahead wholesale gas price fell on Monday morning as milder weather forecasts weighed on demand and due to a steady stream of liquefied natural gas (LNG) arrivals.
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Oil prices rose on Monday as the slow return of U.S. crude output cut by frigid conditions served as a reminder that the supply situation was tight, just as demand recovers from the depths of the COVID-19 pandemic.
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Oil prices slid more than 1% on Friday, adding to overnight declines, on worries that refineries will take time to resume operations after the big freeze in the U.S. South, creating a gap in demand, while OPEC+ supplies were expected to rise. ›