Oil prices edged down on Friday as investors weighed rising supplies from major producers and the impact on fuel demand from the COVID-19 pandemic.

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Crude prices fell on Thursday after official data showed a big increase in U.S. gasoline stocks, sparking concerns about demand weakening in the world’s biggest oil consumer as crude supplies around the world rise.

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Oil prices edged higher on Wednesday on the prospects for stronger global economic growth amid increased COVID-19 vaccinations and a report that crude inventories in the United States, the world’s biggest fuel consumer, fell.

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Oil prices rose on Tuesday as investors looked for bargains following the previous day’s plunge of more than 4% on rising output from OPEC+ while strong economic data from the United States and China brightened recovery prospects.

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Crude prices rose on Thursday, recouping some of the previous session’s losses on expectations that a meeting of OPEC and its allies later on Thursday would yield output constraint in the face of resurgent COVID-19 infections in some regions.

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Oil prices rose on the eve of meeting between OPEC and its allies, as investors were betting the producers would largely agree to extend their supply curbs into May.

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Oil prices rose on Tuesday as shipping traffic resumed through the Suez Canal after days on hold and focus turned to an OPEC+ meeting this week where the extension of supply curbs may be on the table amid new coronavirus pandemic lockdowns.

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Oil slumped more than 2% on Monday after news from the Suez Canal that salvage crews have managed to move the giant container ship that has been clogging up the vital global trade passage for nearly a week.

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British wholesale gas prices rose on Friday morning as delays in liquefied natural gas (LNG) cargo arrivals were expected due to a blockage in the Suez Canal.

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Oil prices reversed a sharp sell-off a day earlier to rise about 2% on Friday on mounting fears that it could take weeks to dislodge a giant container ship blocking the Suez Canal, which would squeeze supplies of crude and refined products.

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