Prompt British wholesale gas prices edged higher on Tuesday morning with output from the country’s wind farms forecast lower, while contracts along the curve were supported by gains in oil markets.

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Oil rose on Tuesday amid hope that the world’s biggest producers of crude will agree to cut output as the coronavirus pandemic crushes demand, even as analysts warn a global recession may be deeper than expected and big production cuts will be needed.

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European spot power prices rose in wholesale market trading on Monday on tighter supply, while key futures contracts were tracking firmer fuels and carbon, which drove the German benchmark to a three-week high.

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Prompt British wholesale gas prices were mixed on Monday morning as oversupply weighed on the within-day contract and forecasts for lower wind power buoyed the day-ahead.

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Oil prices fell on Monday, after Saudi Arabia and Russia delayed a meeting to discuss output cuts that could help alleviate global oversupply as the coronavirus pandemic pummels demand.

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British prompt wholesale gas prices fell on Friday morning as milder temperatures and stronger wind output curbed demand.

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Oil prices fell on Friday, coming off their biggest one-day gains in the previous session after U.S. President Donald Trump said he had brokered a deal between Saudi Arabia and Russia to cut output, but made no offer to reduce U.S. production.

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British wholesale gas prices rose on Thursday morning due to undersupply and as crude oil prices jumped.

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Crude oil futures jumped nearly 5% in early trading on Thursday after U.S. President Donald Trump said he expected Saudi Arabia and Russia to reach a deal in the next few days to end their oil price war.

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British wholesale gas prices fell on Wednesday morning and linger around 2009 lows, amid reduced demand due to higher wind output and temperatures, and as the summer gas season started.

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