British wholesale gas prices rose on Tuesday morning as a drop in wind power raised demand for gas and supplies from pipelines and liquefied natural gas remained low.

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Crude oil prices rose on Tuesday, with Brent hitting $75 a barrel for the first time since April 2019, as investors remained bullish about a quick recovery in global oil demand and as concerns eased over an early return of Iranian crude.

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European spot electricity prices for Tuesday delivery diverged on Monday, as renewable generation in Germany is expected to decline while temperatures are seen down in France and Germany.

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British wholesale gas prices rose on Monday morning amid temperatures forecast below the seasonal norm, outages in Norway and low liquefied natual gas send-out.

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Oil prices rose on Monday, underpinned by strong demand during the summer driving season and a pause in talks to revive the Iran nuclear deal that could indicate a delay in resumption of supplies from the OPEC producer.

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Oil prices fell for a second straight session on Friday as the U.S. dollar soared on the prospect of interest rate hikes in the United States, but they were on track to finish the week little changed and only slightly off multi-year highs.

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European prompt power was mixed on Thursday as German prices rose in response to lower wind power supply while French prices eased on the back of higher nuclear and wind power supply as well as falling demand.

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The British wholesale gas price for day-ahead delivery rose on Thursday as flows were expected to be re-routed to the continent tomorrow and amid low wind output.

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Crude oil prices fell on Thursday as the U.S. dollar strengthened after the Federal Reserve signalled it might raise interest rates faster than expected, but losses were limited by a big drop in U.S. crude oil inventories.

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Oil prices gained on Wednesday, with Brent rising for a fifth consecutive session as sentiment rose on the back of falling inventories and a recovery in demand after the pandemic.

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