Prompt British wholesale gas prices slipped on Tuesday morning as supplies of gas continued to be re-routed from the continent to Britain due to maintenance.

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Oil futures rose on Tuesday, boosted by an unexpected commitment from Saudi Arabia to deepen production cuts in June in a bid to help drain the glut in the global market that has built up as the coronavirus pandemic crushed fuel demand.

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British wholesale gas prices were lower on Monday morning as gas was re-routed from continental Europe to Britain, creating oversupply.

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Oil prices slipped more than 1% on Monday as concern over a persistent glut and economic gloom caused by the coronavirus pandemic cancelled out support from supply cuts at some of the world’s top producers. ›

British wholesale gas for day-ahead delivery rose on Thursday morning on expectations of colder temperatures over the weekend and lower Norwegian imports.

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Oil prices extended losses on Thursday as the industry grappled with the growing global surplus of crude and the sharp coronavirus-led downturn in demand, with the outlook still grim despite April data showing a rise in imports into China.

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Prompt British wholesale gas prices edged higher on Wednesday morning as lower supply form the country’s liquefied natural gas(LNG) terminals left the market slightly undersupplied.

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Oil prices were mixed on Wednesday as a higher than expected rise in U.S. inventories refocused investors on the risk of oversupply despite hopes for a recovery in demand as some countries ease coronavirus lockdowns.

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European spot wholesale power prices were mixed on Tuesday, with German prices falling due to ample wind energy while in France prices rose as nuclear supply tightened.

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Oil prices climbed in early trade on Tuesday, adding to gains in the previous session, on expectations that fuel demand will begin to pick up as some U.S. states and nations in Europe and Asia start to ease coronavirus lockdown measures.

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