Spot prices in Europe’s wholesale power market on Thursday diverged on rising solar supply in Germany while French nuclear availability and wind supply dipped and demand is seen up.

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British wholesale gas prices mostly largely declined on Thursday morning due to softer demand and as domestic production was expected to increase.

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Oil prices fell more than 1% on Thursday, extending losses as investors braced for more supplies following a compromise between top OPEC producers and as U.S. fuel stocks rose, raising concerns about demand in the world’s largest consumer.

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British wholesale gas prices fell on Wednesday, with demand below the seasonal norm and the UK system over-supplied.

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European prompt power prices rose on Wednesday as the expectation of a more than 3 gigawatt (GW) demand rise after a national holiday in France overrode the impact of increasing supply.

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Oil prices fell on Wednesday over fresh concerns about demand after data showed that China’s first-half crude imports dropped, but were still holding near a one-week high amid worries about supplies as the world recovers from the coronavirus pandemic.

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European prompt power prices dropped on Tuesday as wind supply is seen rising throughout the region on Wednesday and French demand is expected to fall due to a national holiday.

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The British day-ahead wholesale gas price inched up on Tuesday morning due to lower flows through the Vesterled pipeline and an unplanned outage at a UK terminal but the August contract dipped amid expectations of higher wind output.

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Oil prices climbed on Tuesday, reversing most of the previous day’s losses, as tight supply and expectations of a further draw in U.S. crude inventories provided support, although fears over the spreading COVID-19 variant capped gains.

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British wholesale gas prices mostly fell on Monday morning as a dip in demand coincided with an increase in UK continental shelf (UKCS) supply, leaving the market oversupplied.

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