Oil prices eked out gains on Thursday, reflecting concerns about Iranian crude supplies as the U.S. hit Tehran with new sanctions, halting Wednesday’s declines in the face of an escalating China-U.S. trade dispute and worries over Chinese demand. ›

British wholesale gas prices rose on Wednesday morning as forecasts for cooler temperatures and lower output from the country’s wind farms led to an increase in demand.

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Oil prices dipped on Wednesday after China reported relatively weak import data, although the market remained well supported by falling U.S. crude inventories and the introduction of sanctions against Iran.

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British prompt gas prices mostly edged up on Tuesday morning as temperatures were expected to cool by mid-week.

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Oil prices rose on Tuesday with re-introduced U.S. sanctions against major crude exporter Iran expected to tighten global supply. Spot Brent crude oil futures LCOc1 were $74.17 per barrel at 0710 GMT, up 42 cents, or 0.6 percent, from their last close.

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British gas for immediate delivery fell on Monday due to oversupply but the weekend and front-month contracts edged up on lower temperature forecasts.

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Oil prices rose on Monday after Saudi crude production registered a surprising dip in July and as American shale drilling appeared to plateau.

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British wholesale gas prices rose slightly on Friday as an outage at the Forties pipeline began and due to to higher demand amid low wind output forecasts in the coming week, traders said.

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Oil prices were steady on Friday, supported by traders placing new hedges in the futures market in anticipation of a decline in U.S. crude inventories, but held back from advancing by the prospect of rising global supplies.

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Prompt British wholesale gas prices rose on Thursday as domestic production ramped down in anticipation of a planned outage at the Forties pipeline on Friday, leaving the system slightly undersupplied.

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