British wholesale gas prices rose on Wednesday morning as colder temperatures boosted gas demand for heating and low wind speeds increased demand from power plants.

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Oil rose for the fourth straight session on Wednesday as the market shrugged off an industry report showing U.S. crude stockpiles rose more than expected, extending a rally driven by hopes that a COVID-19 vaccine will boost fuel demand.

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Brent crude prices hit their highest levels since March as news of a third promising coronavirus vaccine candidate spurred hopes of a quicker recovery in oil demand, while U.S. President-elect Joe Biden received the go-ahead to begin his leadership transition.

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Oil prices rose more than 1% on Monday, extending last week’s gains as traders eyed a recovery in demand due to successful coronavirus vaccine trials.

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British gas prices across the curve declined on Friday morning amid plentiful supply and milder weather forecasts.

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Oil prices were little changed on Friday, on track for a third consecutive weekly rise, but demand concerns stemming from surging coronavirus cases and renewed lockdowns in several countries capped gains.

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British day-ahead wholesale gas declined on Thursday morning due to lower gas-for-power demand forecasts, after rising sharply the previous day.

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Oil futures were mixed on Thursday as the surge in coronavirus cases and tighter economic restrictions around the globe stoked fears over slower fuel demand, outweighing upbeat vaccine news.

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Oil prices edged higher on Wednesday as hopes that OPEC and its allies will delay a planned rise in oil output offset demand fears stoked by a bigger-than-expected build in U.S. crude stocks and weaker U.S. retail sales.

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