British wholesale gas prices rose on Thursday morning as lower imports and strong demand left the market undersupplied.

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Oil prices edged higher on Thursday, recouping early losses, as crude stockpiles in the United States, the world’s largest oil consumer, fell more sharply than expected as refining output rose and exports surged.

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British wholesale gas prices were mostly higher on Wednesday morning as wind output is expected to decrease and temperatures dip.

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Oil prices rose for a third day on Wednesday after industry data indicated U.S. crude inventories fell much more than expected last week, reinforcing bullish views on fuel demand in the world’s largest economy.

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British wholesale gas prices rose to their highest levels since January on Tuesday morning, driven by lower send-out of liquefied natural gas (LNG), firm demand and high carbon prices.

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Oil prices dipped on Tuesday, reversing gains earlier in the session after more U.S. states eased lockdowns and the European Union sought to attract travellers, helping to offset concerns over fuel demand in India as COVID-19 cases soar.

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British wholesale gas prices rose on Friday morning on colder-than-normal temperatures and low wind output.

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Oil prices slipped on Friday, taking a breather after touching their highest in six weeks as concerns of wider lockdowns in India and Brazil to curb the COVID-19 pandemic offset a bullish outlook on summer fuel demand and economic recovery.

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British wholesale gas prices rose on Wednesday morning as expectations of cooler weather ramped up demand and prices built on the previous day’s gains following the outcome of an auction for additional transit capacity through Ukraine.

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Oil prices rose on Wednesday amid optimistic forecasts of global fuel demand recovery, while the rapid spread of COVID-19 infections in India and a bigger-than-expected build in U.S. crude stocks capped gains.

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