Oil prices were mostly flat on Thursday, as a boost from lower-than-expected U.S. crude stocks that lifted the market to five-month highs in the previous session gave way to fuel demand concerns amid rising coronavirus infections.

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Oil prices rose on Wednesday after inventory data showed a big drop in U.S. crude stocks although gains were capped by concerns over fuel demand with mounting global COVID-19 cases.

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Oil prices eased on Tuesday amid concerns that a fresh wave of COVID-19 infections around the world will see a pickup in fuel demand stalling amid tighter lockdowns – just as major producers ramp up output.

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Oil prices slipped on Thursday, weighed down by concerns that surging coronavirus infections around the globe could jeopardize a recovery in fuel demand just as major oil producers are set to raise output.

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Oil prices climbed on Wednesday after a surprise drop in U.S. crude inventories was enough to offset concerns about U.S. fuel demand amid record increases in COVID-19 infections in some states.

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Prompt British wholesale gas prices rose on Tuesday morning as flows through the Langeled pipeline from Norway were at zero and as wind power output increased.

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Oil prices were steady on Tuesday, erasing gains earlier in the session, as rising coronavirus cases dampened the outlook for demand and countered optimism over more U.S. stimulus.

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Oil prices edged lower on Monday as rising coronavirus cases and tensions between the United States and China pushed investors toward safe-haven assets.

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The spot electricity price for early next week delivery in Germany rose on Friday due to a projected decrease in wind power supply, while low demand weighed on the French price.

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Oil prices rose on Friday on the back of a weaker U.S. dollar, although demand concerns stemming from rising coronavirus cases and escalating U.S.-China tensions kept a cap on prices.

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