British wholesale gas prices mostly declined on Thursday morning, despite an undersupplied system, due to lower demand.

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Oil prices climbed higher on Thursday ahead of an OPEC meeting in which Saudi Arabia is expected to push the group and its allies including Russia to agree to further output cuts to support the market.

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British wholesale gas prices fell on Wednesday morning due to oversupply.

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Oil prices rose on Wednesday on hopes that major producers have made progress towards sealing an agreement to implement deeper output cuts aimed at offsetting the slump in demand caused by the global coronavirus outbreak.

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Oil prices rose for a second day on Tuesday on expectations that central banks are likely to enact financial stimulus to offset the impacts of the coronavirus outbreak and growing optimism that OPEC will order deeper output cuts this week.

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British prompt wholesale gas prices eased on Tuesday morning as higher deliveries from liquefied natural gas (LNG) terminals helped to offset lower flows from the UK continental shelf.

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European spot electricity prices for day-ahead delivery rose on Monday boosted by an expected rise in electricity demand due to cold weather, while forward contracts posted gains on the back of higher carbon emissions permits and coal prices.

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Oil prices rebounded more than $1 a barrel after earlier hitting multi-year lows on Monday, as hopes of a deeper cut in output by OPEC and stimulus from central banks countered worries about damage to demand from the coronavirus outbreak.

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German power delivery prices for Monday rose in the European wholesale market on Friday on forecasts for lower demand while forwards dropped along with losses in related energy markets.

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British wholesale gas prices declined on Friday morning on healthy supply.

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