UK GAS-Prices drop in oversupplied market
LONDON, Nov 15 (Reuters) - British wholesale gas prices fell on Wednesday morning as healthy supplies and weaker demand led to an oversupplied market.
* Within-day gas price down 1.55 pence at 51.35 p/therm by 0914 GMT. * Day-ahead gas price down 1.20 p at 51.55 p/therm. * "(A) significant drop in consumption and continuation of healthy supply is the main reason for the oversupply," gas analysts at Thomson Reuters (Dusseldorf: TOC.DU - news) said in a research note on Wednesday. * Gas system oversupplied by 20 million cubic metres (mcm) with demand forecast at 264.5 mcm and flows at 284.5 mcm/day, National Grid (LSE: NG.L - news) data showed. * Imports from Norway through the Langeled and Vesterled pipelines were slightly up on the previous day. * Further out on the curve, prices also slipped. * December 2017 contract down 0.65 p at 52.85 p/therm. * Winter 2018 contract down 0.20 p at 52.20 p/therm. * Day-ahead gas price at the Dutch TTF hub down 0.35 euro at 18.98 euros per megawatt-hour. * Benchmark Dec-17 EU carbon contract up 0.18 euro at 7.57 euros per tonne. * Thomson Reuters analyst view: http://emea1.apps.cp.extranet.thomsonreuters.biz/cms/?pageid=united-kingdom-gas (Reporting by Susanna Twidale; Editing by Mark Potter)