European wholesale spot power prices rose on Monday, lifted by a forecast drop in German wind power supply and expected higher demand in both France and Germany.

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Oil prices rose on Monday, recovering from a seven-day losing streak with support from a weakerdollar, although concern about surging cases of the Delta coronavirus variant led to cautious trading.

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European wholesale power for Monday delivery dropped in Friday trading, as Germany was set to see a tripling of wind power volume while demand was flat.

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British and European gas prices rebounded on Friday morning after posting heavy losses the previous day, as volatility remained high due to uncertainty over future Russian gas supplies.

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Oil prices steadied on Friday, clambering away from three-month lows, but they were still on track for a weekly loss of more than 5% as new lockdowns in countries facing surging cases of the COVID-19 Delta variant dampened the outlook for fuel demand.

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British and European gas prices fell on Thursday morning on news that the Nord Stream 2 pipeline will deliver 5.6 billion cubic metres of Russian natural gas this year.

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European prompt power prices were mixed on Thursday as Germany’s jumped on collapsing wind power supply and those in France dropped as more thermal and solar capacity became available.

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Oil dropped towards $66 a barrel on Thursday to its lowest since May, pressured by concerns about weaker demand as COVID-19 cases rise, a stronger U.S. dollar and a surprise increase in U.S. gasoline inventories.

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European wholesale spot power prices rose on Wednesday as wind supply is expected to fall throughout the region.

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British wholesale gas for day-ahead delivery rose to its highest level since Feb. 2018 on Wednesday morning as a drop in wind output increased gas demand for power generation.

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