Daily – oil down on stronger dollar

by EnergyMarketPrice 02 Nov 07:45

European prompt power prices decreased on Monday as many businesses were closed ahead of the All Saints holiday on November 1. German baseload power prices for Tuesday’s delivery traded at 48.60 euros per MWh, down 3.50 euros.

British prompt gas prices decreased to a 10-day low level on Monday morning as milder-than-normal weather temperatures influenced demand and huge LNG supply forecast diminished worries over cargo diversions to Asia. By 09:15 GMT, gas for day-ahead delivery traded at 59.25 pence per therm, down 0.35 pence.

European carbon prices decreased by around 2 percent on Monday morning as energy commodities and bigger financial markets retreated from gains made previous week. By 09:15 GMT, the benchmark December 2011 EUA contract settled at 10.22 euros, losing 20 cents from Friday’s settlement of 10.42 euros.

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