Prompt British wholesale gas prices dropped on Wednesday morning as rising temperatures were expected to reduce gas demand.

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Oil prices dropped on Wednesday as the International Energy Agency’s (IEA) forecast of a market surplus in the first half of this year was enough to cancel out concerns about military disruptions that have slashed Libya’s crude output.

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European spot electricity contracts for day-ahead delivery rose in wholesale trade on Tuesday, helped by a sharp fall in German wind power generation and firm demand due to cold weather.

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Prompt British wholesale gas prices were mixed on Tuesday as lower imports from Norway left the market undersupplied but warmer temperatures were forecast for later in the week.

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Oil prices fell nearly 1% on Tuesday as investors expected Libya’s oil production to eventually resume following a force majeure declared by the oil exporter on two major oilfields amid a military blockade.

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British wholesale gas prices fell on Monday morning as an increase in liquefied natural gas send-out helped to create oversupply.

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Oil prices rose to their highest in more than week on Monday after two large crude production bases in Libya began shutting down amid a military blockade, setting the stage for crude flows from the OPEC member to be cut to a trickle.

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British prompt wholesale gas prices were mixed on Friday morning as colder temperatures forecast from the weekend pushed up demand but healthy supply weighed on some contracts.

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Oil prices were steady on Friday as reports of sluggish economic growth in China, the world’s biggest crude importer, raised concerns about fuel demand which countered optimism from the signing of a Sino-U.S. trade deal this week.

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British wholesale gas prices rose on Thursday morning, supported by a drop in liquefied natural gas (LNG) send-out and expectations of a demand rise. ›