British wholesale gas prices dropped on Thursday morning as milder weather reduced gas demand, putting pressure on the market which is generally oversupplied this winter.

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Oil prices fell on Thursday as alarm spread over the economic impact of the Wuhan virus in China, while a bigger-than-expected increase in U.S. crude stocks added to the negative tone.

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A fall in wind power supply boosted German day-ahead wholesale power prices on Wednesday in a mixed session, in which prices in neighbouring France fell on declining demand.

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Prompt British wholesale gas prices fell on Wednesday morning, as forecasts for warmer temperatures and strong wind power output curbed demand.

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Oil prices rose for a second day on Wednesday, recouping some losses after a five-day rout on talk that OPEC could extend oil output cuts if a new coronavirus hurts demand, while data showing a decline in U.S. stockpiles helped steady prices.

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European spot electricity prices on Tuesday were mixed, with those in Germany falling due to more wind power production and those in France firming because of tighter nuclear supply.

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British wholesale gas prices rose early on Tuesday, supported by colder weather and lower liquefied natural gas (LNG) supply.

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Oil futures steadied on Tuesday after five days of declines on concerns a virus outbreak in China could dent demand for oil, with some analysts suggesting the falls may be overdone.

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Prompt British wholesale gas prices edged higher on Monday as lower output from liquefied natural gas (LNG) terminals and strong demand for heating left the market undersupplied. ›

Crude prices fell more than 2% to multi-month lows on Monday as the rising number of cases of the new coronavirus in China and city lockdowns there deepened concerns over oil demand.

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