Oil prices dropped on Tuesday as the prospects for the rapid approval of new U.S. economic stimulus waned while increasing new coronavirus infections raised questions over the pace of any recovery in demand. ›

British wholesale gas prices rose on Monday morning as below average temperatures and lower wind output stoked demand.

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Oil prices edged up on Monday as a weaker dollar offset fresh concerns about the hit to global fuel demand from renewed lockdowns to curb the spike in COVID-19 infections.

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Oil prices fell on Friday, retreating further from 11-month highs hit last week, weighed down by worries that new pandemic restrictions in China will curb fuel demand in the world’s biggest oil importer.

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British wholesale gas prices were mixed on Thursday morning, with the day-ahead up on colder weather and other contracts down on high BBL and IUK pipeline imports.

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Oil slipped on Thursday after industry data showed a surprise build in U.S. crude inventories that reignited pandemic-led demand concerns, but stimulus hopes in the United States capped the downturn in prices.

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British wholesale gas prices rose on Wednesday morning, buoyed by a an expected fall in temperatures to below normal levels from Thursday that will lift demand for heating.

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Oil prices rose on Wednesday, building on solid gains overnight, thanks to a combination of a weaker dollar and expectations the incoming U.S. administration will deliver massive stimulus spending that would lift fuel demand and draw down crude stocks.

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Oil prices on Monday fell further from 11-month highs touched last week, ending a rally that started at end-October on production cuts and strong Chinese demand, with the market’s outlook questioned as coronavirus infections rise.

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Oil prices were lower on Friday as concerns about Chinese cities in lockdown due to coronavirus outbreaks tempered a rally driven by strong import data from the world’s biggest crude importer and U.S. plans for a large stimulus package.

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