UK GAS-Prices mostly lower on oversupply
LONDON, Nov 3 (Reuters) - British wholesale gas prices were mostly lower on Friday morning due to oversupply. * The within-day gas price was 0.45 pence lower at 47.75 pence per therm at 0849 GMT. * The December contract was down by 0.55 p at 51.35 p/therm. * Traders said imports from Norway were strong, contributing to oversupply. * Supplies through the Vesterled pipeline are at 35 million cubic metres (mcm). Flows through Langeled are stable at around 70 mcm and expected to remain at this level going forward, Thomson Reuters (Dusseldorf: TOC.DU - news) analysts said. * Demand is forecast at 259 million cubic metres and flows at 277 mcm/day, meaning the system is 18 mcm oversupplied, according to National Grid (LSE: NG.L - news) data. * However, demand for heating is higher even though the weather forecast has turned slightly milder towards the end of next week, Thomson Reuters analysts said. * Day-ahead gas up by 0.82 pence at 49.45 pence per therm. * In the Dutch gas market, the day-ahead gas price at the TTF hub declined by 0.05 euro to 18.05 euros per megawatt hour (MWh). * The benchmark Dec (Shanghai: 600875.SS - news) -17 EU carbon contract inched down by 0.01 euro to 7.65 euros a tonne. * Thomson Reuters analyst view: http://emea1.apps.cp.extranet.thomsonreuters.biz/cms/?pageid=united-kingdom-gas (Reporting by Nina Chestney)