British prompt wholesale gas prices fell on Tuesday morning as reduced demand helped to create an oversupplied market, while contracts further out on the curve gained ground.

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British prompt wholesale gas prices jumped on Monday as a spike in demand due to colder weather and lower wind generation outstripped supply.

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Oil rose on Monday on expectations that Saudi Arabia, the world’s largest oil exporter, will continue to support output cuts by OPEC and other producers to prop up prices under new Energy Minister Prince Abdulaziz bin Salman.

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British prompt wholesale gas prices rose on Friday morning on expectations of cooler temperatures and weaker wind power output.

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Oil prices were steady on Friday, with crude benchmarks poised for multi-week gains amid a sharp drawdown in U.S. crude inventories, while trade tensions eased after Washington and Beijing agreed to hold high-level talks next month.

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Oil prices eased on Thursday after a report showed U.S. crude inventories rose against expectations, even as Washington and Beijing confirmed they would hold ministerial level talks to try resolve a prolonged trade war.

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European prompt power prices continued to fall on Wednesday as wind supply volumes were forecast higher while consumption remained unchanged.

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British wholesale gas prices mostly rose on Wednesday morning on expectations of lower supply from Norway due to upcoming maintenance.

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Oil prices recovered some ground on Wednesday, boosted by a wider market pickup on positive news from China’s services sector, having touched their lowest in close to a month during the previous session on fears over the weakening global economy.

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British wholesale gas prices mostly fell on Tuesday morning as strong output from the country’s wind farms curbed gas demand and weaker oil prices weighed on the curve.

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