British wholesale gas prices were mostly lower on Tuesday morning due to oversupply.

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Oil prices slumped again on Tuesday amid concern about dwindling crude storage capacity worldwide and fears that fuel demand may only recover slowly once countries ease curbs imposed on economic and social activity to combat the coronavirus pandemic.

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Prompt British wholesale gas prices soared on Monday morning as cooler temperatures and forecasts for lower output from the country’s wind farms boosted demand for gas.

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Oil prices fell on Monday on signs that worldwide oil storage is filling rapidly, raising concerns that production cuts will not come fast enough to fully offset the collapse in demand from the coronavirus pandemic.

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British wholesale gas prices declined on Friday morning due to oversupply and expectations of lower consumption.

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European prompt power prices for Monday delivery rose on Friday as German wind power volumes were forecast to fall that day, but next week prices overall were down as demand will be shortened by the May 1 holiday.

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Oil prices climbed on Friday, adding to gains from earlier sessions after producers such as Kuwait said they would move to cut output and the United States approved another package to cope with the turmoil caused by the coronavirus outbreak. ›

European prompt power prices for day-ahead delivery fell sharply on Thursday as German wind power volumes were forecast to soar and demand to fall ahead of the weekend, more than offsetting some thermal plant outages.

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British wholesale gas prices mostly fell on Thursday morning due as a drop in demand created an oversupplied gas system. ›

Oil surged on Thursday amid signs that producers are cutting production to weather a collapse in demand as the coronavirus outbreak ravages world economies, while the U.S. state of Oklahoma also moved to help oil firms pump less.

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