Oil prices climbed for a third straight session on Friday, on track for a fifth consecutive weekly gain, as demand growth is expected to outstrip supply on bets that OPEC+ producers will be cautious in returning more output to the market from August.

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European prompt power prices on Thursday were weighed down by weaker demand and more French nuclear supply while forward curve contracts rallied, led by firmer carbon and fuels.

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British wholesale gas prices rose on Thursday morning, amid continued low supply from the country’s liquefied natural gas terminals and low storage levels.

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Oil prices gained for a second day on Thursday after a bigger-than-expected drawdown in U.S. crude and gasoline stocks confirmed outlook for robust fuel demand and on doubts about the future of the 2015 Iran nuclear deal that could end U.S. sanctions on Iranian crude exports.

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British wholesale gas prices rose on Wednesday morning as a drop in supply from the country’s liquefied natural gas terminals and ongoing maintenance led to an undersupplied system.

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European spot power prices climbed on Wednesday on expectations of lower renewable generation in Germany.

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Oil prices rose on Wednesday after industry data showed U.S. crude inventories fell more than expected, reinforcing views of a tightening supply-demand balance with road and air travel picking up in Europe and North America.

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British wholesale gas prices rose on Tuesday morning as a drop in wind power raised demand for gas and supplies from pipelines and liquefied natural gas remained low.

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Crude oil prices rose on Tuesday, with Brent hitting $75 a barrel for the first time since April 2019, as investors remained bullish about a quick recovery in global oil demand and as concerns eased over an early return of Iranian crude.

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European spot electricity prices for Tuesday delivery diverged on Monday, as renewable generation in Germany is expected to decline while temperatures are seen down in France and Germany.

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