Most energy commodities recorded small price movements last week, amid little changes in fundamentals. Oil prices recovered some of the losses registered in the preceding week on a combination of bullish equity markets, a weaker dollar and an upwards revision in IEA’s demand forecast. This bullishness in oil markets and the dwindling US currency also pushed coal prices slightly upwards, despite rather depressed fundamentals in the Atlantic and Pacific basins. European carbon prices softened slightly as a result of low buying interest from utilities and financials. Prompt gas prices in the UK and the Continent diverged considerably due to maintenance in the Interconnector pipeline, while forward prices in both markets remained almost unchanged. Prompt power prices were supported by low wind production and an unexpected outage at a major German nuclear plant, but forward prices eased off slightly, in line with carbon prices.