Oil prices held steady on Friday and were on track for a third consecutive weekly gain, pulled higher by major oil producers’ efforts to hold back output amid concerns about the pace of economic recovery from the coronavirus pandemic.Oil prices held steady on Friday and were on track for a third consecutive weekly gain, pulled higher by major oil producers’ efforts to hold back output amid concerns about the pace of economic recovery from the coronavirus pandemic.

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Oil prices fell on Thursday as major producers warned of a risk to demand recovery if the coronavirus crisis is prolonged, while U.S. crude inventories dropped less than expected.

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Prompt power prices rose in the European wholesale market on Monday as German wind power supply was forecast to dip and French nuclear availability fell as several reactors went offline for maintenance.

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Oil prices rose on Monday following news China plans to ship large volumes of U.S. crude in August and September, which outweighed concerns over a slowdown in demand recovery after the coronavirus pandemic and an uptick in supplies.

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British wholesale gas prices declined on Friday morning as demand for cooling ebbed and the system was oversupplied. ›

Oil prices were higher on Friday and on track for a second week of gains amid growing confidence that demand for fuel is starting to pick up despite the coronavirus pandemic that has slammed economies worldwide. ›

Crude oil prices slipped on Thursday after OPEC said it expected demand for fuels to fall more than expected, although U.S. government data showing a fall in inventories suggested demand is returning despite the coronavirus pandemic.

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Prompt British wholesale gas prices slipped on Wednesday in a balanced market and with temperatures poised to dip from recent highs, curbing power demand for cooling.

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Oil prices moved higher on Wednesday after an industry report showed that U.S. inventories of crude fell more than analysts expected, bolstering hopes that fuel demand in the world’s biggest economy can weather the coronavirus pandemic.

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British wholesale gas prices declined on Tuesday morning as higher flows through the Langeled pipeline offset a drop in FLAGS pipeline supply due to maintenance.

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