British wholesale gas prices fell on Monday morning as strong supply, and expectations of lower demand from the country’s power stations, dented prices.

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Oil prices rose on Monday, with Brent heading toward $70 a barrel, as data showed China’s economic recovery accelerated at the start of 2021, boosting the energy demand outlook at the world’s largest oil importer.

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British wholesale gas prices fell on Friday morning as Norwegian and liquefied natural gas supply increased and wind power output remained strong.

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Brent crude prices eased on Friday but hovered near $70 a barrel as production cuts by major oil producers constrained supply, with optimism about a recovery in demand for the resource in the second half of the year also lending support.

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British wholesale gas prices eased on Thursday as they took direction from European Union carbon prices, which retreated from a new all-time high.

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Crude oil prices rose on Thursday as vaccine rollouts bolstered the economic outlook and U.S. fuel stocks fell sharply, although gains were capped by a surge in crude oil inventories after last month’s Texas storm.

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Oil fell for a third straight session on Wednesday as investors took profits while looking ahead to U.S. inventories data due later in the day for pointers on where prices will head next.

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Prompt British wholesale gas prices fell on Tuesday morning as forecasts for warmer temperatures curb demand.

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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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