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Prices decrease despite mixed fundamentals - 29-11-2021

Despite the bitterly cold weekend, pries fell to end the week, with Omnicron officially confirmed a ‘variant of concern’. Crude oil lost nearly $9.50/bbl in value as it is seen as a threat to demand recovery. Storm Arwen blanketed much of the UK in snow and frost this weekend, but it also brought with it high winds, boosting wind generation for the grid. Gas demand is considerably strong today, surging to 343/mcm as temperatures remain well below November averages.