Prompt British wholesale gas prices fell early on Friday as Storm Dennis was forecast to bring strong winds and boost output from the country’s wind farms.

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Oil prices edged higher Friday, on track for their first weekly gain in six weeks, backed by expectations that major producers will implement deeper output cuts to offset slowing demand in China caused by the coronavirus epidemic.

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British wholesale gas prices fell on Thursday morning as milder temperatures and an expectation of higher wind power output on Friday reduced demand.

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European prompt power prices for day-ahead delivery posted gains on Thursday, supported by an expected fall in electricity generation from wind turbines, although mild temperatures will erode demand.

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Oil prices fell on Thursday after OPEC and IEA reports cut back demand forecasts for this year on the back of the coronavirus outbreak in China, the world’s biggest oil importer.

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European prompt power prices for day-ahead delivery diverged on Wednesday, as a forecast drop in wind power supply lifted the German contract and the French contract slipped because of an expected fall in consumption.

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Prompt British wholesale gas prices edged lower on Wednesday morning as flows from the country’s liquefied natural gas terminals (LNG) ramped up.

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Oil prices extended gains on Wednesday as China reported its lowest daily number of new coronavirus cases since late January, stoking investor hopes that fuel demand in the world’s second-largest oil consumer may begin to recover from the epidemic.

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Oil prices rose around 1% on Tuesday in sympathy with a rally in equity markets but investors remained jittery over the Wuhan virus that has now killed over 1,000 in China.

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British wholesale gas prices fell on Monday morning as continued high winds across the country led to expectations of strong wind power output and fears of weaker Chinese LNG demand due to the coronavirus weighed on prices.

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