Advertisement
UK markets close in 7 hours 6 minutes
  • FTSE 100

    8,052.43
    +28.56 (+0.36%)
     
  • FTSE 250

    19,686.22
    +86.83 (+0.44%)
     
  • AIM

    752.01
    +2.83 (+0.38%)
     
  • GBP/EUR

    1.1575
    -0.0013 (-0.11%)
     
  • GBP/USD

    1.2361
    +0.0011 (+0.09%)
     
  • Bitcoin GBP

    53,524.44
    -12.56 (-0.02%)
     
  • CMC Crypto 200

    1,393.52
    -21.24 (-1.50%)
     
  • S&P 500

    5,010.60
    +43.37 (+0.87%)
     
  • DOW

    38,239.98
    +253.58 (+0.67%)
     
  • CRUDE OIL

    82.68
    +0.78 (+0.95%)
     
  • GOLD FUTURES

    2,320.70
    -25.70 (-1.10%)
     
  • NIKKEI 225

    37,552.16
    +113.55 (+0.30%)
     
  • HANG SENG

    16,828.93
    +317.24 (+1.92%)
     
  • DAX

    17,977.58
    +116.78 (+0.65%)
     
  • CAC 40

    8,056.01
    +15.65 (+0.19%)
     

UK GAS-Prompt British gas prices fall as supply disruptions ease

* Gas market almost balanced

* Four LNG tankers to arrive over next 10 days

LONDON, April 22 (Reuters) - British spot gas prices fell on Friday morning as supply disruptions eased, leaving the market almost balanced.

Gas for within-day delivery fetched 30.15 pence per therm at 0835 GMT, down 0.25 pence from the last settlement.

Gas for day-ahead delivery fell 0.35 pence to 30.35 pence per therm.

With (Other OTC: WWTH - news) supply flows at about 252.8 million cubic metres (mcm) and demand expected to be 250.8 mcm/day, Britain's gas system was almost balanced, National Grid (LSE: NG.L - news) data showed.

ADVERTISEMENT

"Healthier-than-expected supplies intraday and the confirmation of two additional LNG (liquefied natural gas) shipments over the coming weeks could see prices come under pressure as the day progresses," said Marcel Boonaert, head of gas trading at Wingas UK.

Two LNG tankers confirmed Britain as their destination from Qatar on Friday, taking the number of LNG tankers expected to arrive in the country over the next 10 days to four.

Issues affecting gas output from Norway, Britain's main source of imports, eased on Friday.

An outage ended at Norway's Kartso gas-processing plant that had cut capacity by 9mcm/day.

The impact of an outage at Norway's Skarv gas field was reduced to 8.8 mcm/d on Friday from 11 mcm/d on Thursday, operator Gassco said.

British gas prices further along the curve also fell.

The winter '16 contract fell by 0.55 pence to 34.85 pence per therm. The summer '17 contract fell by 0.60 pence to 31.80 pence per therm.

In the Netherlands' gas market, the day-ahead price at the TTF hub slipped by 0.18 euro to 12.60 euros per megawatt-hour.

In Europe's carbon market, the front-year EU allowance price fell 0.05 euro to 5.70 euros per tonne. (Reporting by Susanna Twidale; Editing by Dale Hudson)