Lock-down easing, energy prices on the move...

 Power prices sank across Europe and the UK yesterday, driven down by a weak gas market and over all bearish sentiment from the equities markets. This morning, equity futures in Europe point towards gains for the open of trading, German power has kicked off trading with some modest gains on the close, while feed-stocks like coal and gas trade slightly lower. Oil has both bullish and bearish news, compliance and cuts from Nigeria will be forthcoming however there may have been an 8.5 million barrel build, week on week, in US inventories, oil is trading at a minor discount to the close. Little wind and above normal temperatures are in store for the UK and Europe as the summer holiday season approaches. 

 Oil prices fell on Wednesday after a rise in crude and fuel stockpiles in the United States revived fears about oversupply and falling fuel demand in the world’s largest crude consumer amid the coronavirus outbreak. Brent crude futures LCOc1 fell 1.6%, to $40.51 a barrel by 0636 GMT after gaining nearly 1% on Tuesday.