British wholesale gas prices rose on Wednesday as outages at facilities on the UK continental shelf (UKCS) reduced flows and wind power output remained very low.

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Oil prices fell on Wednesday after an industry report showed an unexpected build-up in U.S. oil inventories last week, which heightened worries about a resurgence in COVID-19 infections potentially dampening fuel demand.

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German prompt power prices rose on Tuesday as wind supply in the country is expected to continue to fall on Wednesday, while French prices edged down as nuclear availability rose.

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British wholesale gas prices mostly fell on Tuesday morning with supply and demand fairly balanced and as future supply fears eased with a booking of capacity on the Ukraine-Russia pipeline for August.

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Oil prices stabilised on Tuesday after slumping around 7% in the previous session amid a broader market retreat led by concerns about rising COVID-19 infections, which came just as producers inked a new supply deal.

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European spot wholesale power prices rose on Monday on a forecast for tighter renewable supply, while demand is expected to increase. ›

British wholesale gas prices rose on Monday morning as wind generation remained very low and as both the UK and Dutch markets awaited the result of a gas transit capacity auction.

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Oil prices recouped some losses on Monday, but were still down after OPEC+ overcame internal divisions and agreed to boost output, which sparked concerns about a crude surplus as COVID-19 infections continue to rise in many countries.

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British wholesale gas prices rose on Friday morning as low wind output increased demand, liquefied natural gas send-out remained low and an outage extension was expected to cut domestic production.

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Oil prices fell on Friday, heading for their biggest weekly drop since at least May as expectations of more supplies spooked investors, with OPEC likely to add output to meet a potential revival in demand as more countries recover from the pandemic.

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