Oil prices rose more than 1% on Wednesday to their highest in nearly a month as industry data showed U.S. crude stockpiles fell more than expected, underpinning a market already buoyed by worries over a potential U.S.-Iran conflict.

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British wholesale gas prices dropped on Tuesday due to continued high storage levels and supply. ›

Oil fell on Tuesday amid concerns over the outlook for crude demand, but prices were supported after Washington announced new sanctions on Iran amid mounting tensions in the Middle East.

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British wholesale gas prices mostly rose on Monday due to slight undersupply in the market and higher demand from power plants on expectations of a dip in wind power.

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Oil prices rose on Monday to extend gains from last week, bolstered as tensions remain high between Iran and the United States after U.S. Secretary of State Mike Pompeo said “significant” sanctions would be announced on Tehran.

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British wholesale gas prices fell on Friday as warmer temperatures curbed demand, while Dutch prices hit near 10-year lows as LNG supplies loom.

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Oil prices reversed earlier gains on Friday but benchmark Brent crude was still set for its first weekly gain in five weeks amid rising tensions in the Middle East and on hopes for a drop in U.S. interest rates that may stimulate global growth.

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British wholesale gas prices rose on Thursday morning due to an undersupplied system.

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Oil prices climbed around 3% on Thursday amid escalating tensions in the Middle East as a U.S. official said one of the country’s military drones was shot down by an Iranian missile.

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Wholesale European prompt power was mixed on Wednesday, with a holiday in parts of Germany on Thursday reducing demand and weighing on local prices, while those in France rose on forecasts for lower supply.

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