Oil prices were near 5-month highs on Tuesday as markets continued to tighten amid OPEC-led supply cuts, U.S. sanctions against Iran and Venezuela, and escalating violence in Libya.

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British wholesale gas prices fell on Monday morning, after steep gains on Friday, as flows from Norway through the Langeled pipeline returned to normal.

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Oil prices rose to their highest level since November 2018 on Monday, driven upwards by OPEC’s ongoing supply cuts, U.S. sanctions against Iran and Venezuela, fighting in Libya as well as strong U.S. jobs data.

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European baseload electricity prices for year-ahead delivery hit multi-week highs on Friday, buoyed by gains in related carbon emissions, coal and gas prices, while contracts for early next week were flat to higher. ›

Oil prices fell on Friday, with Brent slipping away from the $70 mark reached the previous day, pulled down by worries about progress in the U.S.-China trade talks.

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British wholesale gas prices were mixed on Thursday morning on revised weather forecasts for the next couple of days and next week.

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Oil prices slipped a second day on Thursday, with Brent edging down further from the $70 mark after weekly U.S. oil data showed a surprise build in crude inventories and record production.

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British wholesale gas prices mostly fell on Wednesday morning, with prompt prices remaining close to 22-month lows due to oversupply.

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Oil prices rose for a fourth day on Wednesday, pushing Brent towards $70 a barrel as support from OPEC-led supply cuts and U.S. sanctions overshadowed a report showing an unexpected rise in U.S. inventories.

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British wholesale gas prices fell on Monday, the first trading day of the summer gas season, as mild temperatures and robust gas imports oversupplied the system.

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