Power prices extended losses tracking the waning gas market
The European power spot prices faded yesterday amid forecasts of milder temperatures and stronger renewable production. Prices eroded 4.38€/MWh to reach 57.24€/MWh on average in…
Brent prompt future contract rallied to 66.2 $/b, as product buyers aggressively bid gasoline resources in the US to secure to supply in those highly uncertain conditions, lifting the potential for crude prices to rally. The market consensus anticipates steep draws in US petroleum markets.
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