British wholesale gas prices rose on Wednesday morning, buoyed by a an expected fall in temperatures to below normal levels from Thursday that will lift demand for heating.

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Oil prices rose on Wednesday, building on solid gains overnight, thanks to a combination of a weaker dollar and expectations the incoming U.S. administration will deliver massive stimulus spending that would lift fuel demand and draw down crude stocks.

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Oil prices on Monday fell further from 11-month highs touched last week, ending a rally that started at end-October on production cuts and strong Chinese demand, with the market’s outlook questioned as coronavirus infections rise.

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Oil prices were lower on Friday as concerns about Chinese cities in lockdown due to coronavirus outbreaks tempered a rally driven by strong import data from the world’s biggest crude importer and U.S. plans for a large stimulus package.

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British wholesale gas prices rose on Thursday morning as tempratures were expected to drop and liquefied natural gas (LNG) supply remained weak.

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Oil prices were little changed on Wednesday, supported by a bigger-than-expected drop in U.S. crude inventories but under pressure as rising global COVID-19 cases threatened global fuel demand.

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Oil prices rose on Wednesday, with U.S. crude gaining for a seventh day, after an industry report showed a further drop in inventories and investors shrugged off worsening developments in the pandemic.

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British wholesale gas prices soared to fresh more than two-year highs on Tuesday  as colder weather stoked demand and rocketing Asian liquefied natural gas (LNG) prices curbed  supply to Europe.

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Oil prices slipped on Tuesday as investors remained concerned about climbing coronavirus cases globally, but expectations of a drawdown in crude oil inventory in the United States for a fifth straight week kept losses in check.

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British wholesale gas prices on Monday morning rose to their highest levels since  December 2018, buoyed by forecasts of cold weather and competition to attract shipments of liquefied natural gas (LNG).

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