Oil prices slipped on Thursday, weighed down by concerns that surging coronavirus infections around the globe could jeopardize a recovery in fuel demand just as major oil producers are set to raise output.

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Oil prices climbed on Wednesday after a surprise drop in U.S. crude inventories was enough to offset concerns about U.S. fuel demand amid record increases in COVID-19 infections in some states.

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Prompt British wholesale gas prices rose on Tuesday morning as flows through the Langeled pipeline from Norway were at zero and as wind power output increased.

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Oil prices were steady on Tuesday, erasing gains earlier in the session, as rising coronavirus cases dampened the outlook for demand and countered optimism over more U.S. stimulus.

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Oil prices edged lower on Monday as rising coronavirus cases and tensions between the United States and China pushed investors toward safe-haven assets.

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The spot electricity price for early next week delivery in Germany rose on Friday due to a projected decrease in wind power supply, while low demand weighed on the French price.

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Oil prices rose on Friday on the back of a weaker U.S. dollar, although demand concerns stemming from rising coronavirus cases and escalating U.S.-China tensions kept a cap on prices.

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European spot electricity prices for Friday delivery slid on Thursday, due to a projected increase in power generation from wind turbines and a forecast decrease in demand.

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Oil prices ticked higher on Thursday, although gains were limited by a surprise increase in U.S. crude oil reserves as the coronavirus pandemic hit fuel consumption.

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European spot electricity prices for Thursday delivery diverged on Wednesday as renewable supply in Germany edged lower while demand rose, and power generation from wind and solar fell in France.

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