Oil prices rose for a second session on Wednesday on signs of strong fuel demand in western economies, while the prospect of Iranian supplies returning faded as the U.S. secretary of state said sanctions against Tehran were unlikely to be lifted.

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European prompt power prices ticked up on Tuesday as German wind power supply is seen declining from a day earlier.

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British wholesale gas prices rose on Tuesday morning, extending the gains from the previous session, due to heavy maintenance in Norway, although stable demand due to warm weather still kept the UK system oversupplied.

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Oil prices extended their losses on Tuesday as concerns about the fragile state of the global recovery in demand for crude and fuels were heightened by data showing China’s oil imports fell in May.

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European spot electricity prices on Monday rose on higher consumption forecasts and lower anticipated output of German and French wind turbines and nuclear reactors.

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Oil eased after hitting a two-year peak on Monday, pressured by the prospect of higher Iranian exports though recovering demand and OPEC+ supply curbs provided underlying support. ›

Oil rose towards $72 a barrel on Friday, trading close to a two-year high as OPEC+ supply discipline and recovering demand countered concerns about patchy COVID-19 vaccination rollout around the globe. ›

British wholesale gas prices rose on Thursday morning, even though the system was well-supplied, amid maintenance outages and speculative buying. ›

Oil prices rose for a third day on Thursday on expectations of a surge in fuel demand later this year, particularly in the United States and Europe and China, at the same time major producers are maintaining supply discipline. ›

British wholesale gas prices were mixed on Wednesday morning, with the day-ahead rising on lower wind forecasts but other contracts weakening as warm weather curbed demand and carbon prices fell. ›