British wholesale gas prices edged up on Friday morning on forecasts for higher consumption as temperatures are forecast to fall next week.

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Oil prices fell on Friday, pressured by fears about a slow recovery in the global economy and fuel demand due to an accelerating rise in COVID-19 infections, but remained on track for a second straight weekly gain, helped by vaccine hopes.

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British gas prices were steady on Thursday morning, amid slow trade, and as strong wind output and mild weather capped demand.

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Oil prices edged higher on Thursday, taking the week’s gains so far to more than 10% on growing hopes that the world’s major producers will hold off on a planned supply increase as soaring cases of COVID-19 dent fuel demand.

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Oil prices climbed on Wednesday as hopes of an effective COVID-19 vaccine continued to bolster sentiment, while an industry report showed U.S. crude inventories fell more than expected.

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Oil prices rose on Tuesday as high hopes that a COVID-19 vaccine could be on the horizon were enough to cancel out fears that fuel demand is set to weaken in the near term in coronavirus-hit countries in Europe and the United States.

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Oil prices rose more than 2% on Monday, with Brent futures topping $40 a barrel, after Joe Biden clinched the U.S. presidency and buoyed risk appetites, offsetting worries about the impact on demand from the worsening coronavirus pandemic.

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British wholesale gas prices fell on Friday morning driven by lower demand amid milder weather and fresh lockdowns across Europe to halt the spread of COVID-19.

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Oil fell more than 1% on Friday as new lockdowns in Europe to halt surging COVID-19 infections sparked concern about the outlook for demand, while markets remained on edge over drawn-out vote counting in the U.S. election.

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Oil dropped on Thursday as Democrat Joe Biden edged closer to the White House in a nail-biting U.S. presidential election, but the Republicans look likely to retain Senate control, decreasing the chances of any huge COVID-19 relief package.

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