Oil prices fell on Tuesday, reversing earlier gains, on receding fears of a supply disruption in Saudi Arabia, the world’s biggest oil exporter, after an attack on its export facilities, and on concerns a stronger U.S. dollar would crimp demand.

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Brent crude futures climbed above $70 a barrel on Monday for the first time since the COVID-19 pandemic began, while U.S. crude touched its highest in more than two years, following reports of attacks on Saudi Arabian facilities.

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British wholesale gas prices for the near-term fell on Friday morning amid increased supply, but longer-dated contracts firmed in line with other fuels.

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Oil prices jumped more than $1 a barrel on Friday, hitting their highest levels in nearly 14 months, after OPEC and its allies agreed not to increase supply in April as they await a more substantial recovery in demand amid the coronavirus pandemic. ›

Oil prices rose for a second straight session on Thursday, as the possibility that OPEC+ producers might decide against increasing output at a key meeting later in the day lent support, alongside a drop in U.S. fuel inventories.

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British wholesale gas prices fell on Wednesday morning as forecasts showed an uptick in wind power generation from tomorrow.

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Oil prices rose on Wednesday as signs of progress in the COVID-19 vaccine rollout in the United States, the world’s biggest consumer, raised demand expectations.

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British wholesale gas prices were little changed on Tuesday morning, as forecasts confirmed an outlook for colder weather and low wind which lifted contracts by around 5% on Monday.

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Oil prices slid more than 1% on Tuesday as expectations that OPEC would agree to raise oil supply in a meeting this week weighed on sentiment, already hit by concerns over slowing Chinese demand.

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British wholesale gas prices rose on Monday morning as an increase in demand for gas for heating and power left the system undersupplied.

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