British wholesale gas prices fell on Wednesday morning as forecasts of strong output from the country’s wind farms curbed demand for gas from power stations.

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Oil prices fell for a second day on Wednesday on renewed demand concerns as coronavirus cases in Asia rise and on fears rising inflation might lead the U.S. Federal Reserve to raise interest rates, which could limit economic growth.

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European prompt power prices rose on Tuesday due to lower German wind production and in a lasting cold spell that has driven demand levels to above seasonal averages.

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British wholesale gas prices corrected lower for a second day on Tuesday morning following a recent rally, amid a balanced system and weaker carbon prices.

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Oil prices extended gains on Tuesday as hopes of a solid recovery in fuel demand following the reopenings of the U.S. and European economies offset concerns over spreading COVID-19 cases in Asia.

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British wholesale gas prices fell on Monday morning after steep gains last week and as flows from Norway were re-routed to Britain from continental Europe.

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Oil prices drifted lower on Monday after the recovery of a major U.S. pipeline network eased concerns over supply, though fresh restrictions in Asia sparked by surging COVID-19 cases weighed on sentiment.

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British and Dutch gas prices mostly rose on Friday morning as forecasts for cooler than normal temperatures for May combined with low European gas stocks to lift most contracts.

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Oil prices fell on Friday after dropping about 3% a day earlier as coronavirus cases remained high in major oil consumer India and as a key fuel pipeline in the United States resumed operations after being shut due to a cyber attack.

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British wholesale gas prices fell on Thursday morning as European Union carbon prices retreated from record levels and on a balanced system.

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