On Tuesday there were small movements in both the wholesale gas and electricity markets with electricity going down and gas going up.
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| Gas: Gas prices rebounded from the previous day’s losses after tracking the recovery of global equity markets. Between the start of the year and the end of July, the UK received 63 LNG cargoes, a 58% decline in volume to 4.48million tonnes. Power: Power prices continued to track the underlying gas market upwards yesterday, with further out contracts being influenced by the carbon contracts. Oil: Oil prices proved to be volatile yesterday. The session commenced softer before the afternoon saw prices move upwards. Weak demand signals from the US and China were offset by rising tensions in the Middle East. Carbon (EU ETS): The ICE Dec-24 settled at €69.96/t after yesterday’s session. The contract is currently trading at €70.06/t this morning. Carbon (UKAs): The ICE Dec-24 rose to £39.00/t yesterday. The contract has not yet traded at the time of writing. |
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