British wholesale gas prices fell on Wednesday morning on a strongly oversupplied system.

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Oil was largely steady on Wednesday after President Donald Trump falsely claimed victory in a tight U.S. election, despite millions of votes still to be counted and the final result not yet clear.

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Oil prices fell 4% on Monday on worries that widening coronavirus lockdowns in Europe would weaken fuel demand and amid concerns about turbulence over this week’s U.S. presidential election.

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Global oil prices moved in and out of negative territory on Friday but remained on course for a second monthly fall as rising COVID-19 cases in Europe and the United States heighten concerns over fuel consumption.

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Oil prices fell on Thursday, extending a 5% slump in the previous session, as governments’ renewed restrictions to curb a second wave of coronavirus infections and signs of a growing global oil supply glut send prices tumbling. ›

Oil prices slid about 2 percent on Wednesday, giving up most of the previous day’s gains, as a surge in U.S. crude stocks and growing coronavirus infections in the United States and Europe fanned fears of a supply glut and weaker fuel demand.

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British wholesale gas prices were mixed on Tuesday, with the within-day contract buoyed by an under-supplied market while curve prices slipped amid a weaker energy complex.

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Oil prices rose on Tuesday after recent sharp losses, but market sentiment remains muted as surging COVID-19 cases around the world hurt the outlook for crude demand while supply is rising.

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Oil prices fell on Monday, extending last week’s losses, as increasing coronavirus cases in the United States and Europe raised worries about energy demand, while Libya’s fast growing production also weighed on prices.

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Oil prices slipped on Friday, though they held onto most of the gains from the previous session, after Russian President Vladimir Putin indicated he was prepared to extend record supply as cases of COVID-19 surge in the United States and Europe. ›