Advertisement
UK markets open in 1 hour 59 minutes

  • NIKKEI 225

    38,031.28
    +402.80 (+1.07%)
     

  • HANG SENG

    17,626.75
    +342.21 (+1.98%)
     

  • CRUDE OIL

    83.84
    +0.27 (+0.32%)
     

  • GOLD FUTURES

    2,347.30
    +4.80 (+0.20%)
     

  • DOW

    38,085.80
    -375.12 (-0.98%)
     

  • Bitcoin GBP

    51,363.93
    -92.59 (-0.18%)
     

  • CMC Crypto 200

    1,387.27
    +4.69 (+0.34%)
     

  • NASDAQ Composite

    15,611.76
    -100.99 (-0.64%)
     

  • UK FTSE All Share

    4,387.94
    +13.88 (+0.32%)
     
Stocks:

Trending tickers

Microsoft, Alphabet, Anglo American, IBM, Astrazeneca, Unilever and Sainsbury's

UK GAS-Prices fall on warm weather

Reuters - UK Focus

* Next (Dusseldorf: NXG.DU - news) -day gas down 0.55 pence at 52.65 p/therm

* Demand well below seasonal norm

LONDON, April 15 (Reuters) - British natural gas prices fell on Tuesday morning (Frankfurt: TDM.F - news) as warm weather reduced demand for heating.

Gas for delivery on Wednesday was down 0.55 pence at 52.65 pence per therm by 0823 GMT.

Demand was forecast to be 210 million cubic metres (mcm) on Tuesday, well below the seasonal norm of 246 mcm, according to the National Grid (LSE: NG.L - news) .

However, Britain's gas system was slightly short - by around 4 mcm of gas - with flows forecast at about 206 mcm.

ADVERTISEMENT

The price for within-day gas delivery rose 0.45 pence to 52.90 pence per therm due to undersupply.

Further along the curve, prices also fell.

Gas for delivery next month decreased by 0.50 pence to 52.75 pence per therm. Gas for winter 2014 delivery was down 0.35 pence at 65.05 pence per therm.

Tensions between Ukraine and gas exporter Russia intensified over the weekend as Ukraine's acting president warned of a military crackdown on pro-Russia separatists in eastern Ukraine.

Moscow has threatened to cut off gas supplies to Ukraine, a major transit route for Russian gas to Europe but so far flows via Ukraine have been stable.

Analysts at Societe Generale (Paris: FR0000130809 - news) said month-ahead British natural gas prices would likely stay in a 51-53 pence/therm range if there is no interruption to flows via Ukraine.

In Britain's power markets, prices for baseload (24 hours) delivery on Wednesday rose 1.35 pounds ($2.26) to 42.25 pounds per megawatt-hour on lower wind production.

GAS UK natural gas prices National Grid instant flows National Grid gas demand North Sea gas and power maintenance

POWER UK: baseload prices , peakload prices , outages FRANCE: baseload prices , peakload prices , outages, report GERMANY: baseload prices , peakload prices , outages, report CENTRAL EUROPE: report SWITZERLAND: outages, reservoir levels NORDIC (SES: MR7.SI - news) : report EU CARBON PRICES SPEEDGUIDE:

($1 = 0.5976 British Pounds) (Reporting by Nina Chestney; Editing by Dale Hudson)