U.K. Within-Day Natural Gas Jumps to One-Year High on Weather

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U.K. natural gas for same-day delivery jumped to the highest level in more than a year as temperatures fell, boosting demand to a one-month high as Norwegian flows dropped.

Within-day gas surged as much as 17 percent, the biggest intraday gain since April, according to broker data compiled by Bloomberg. Demand in the 24 hours to 6 a.m. tomorrow was predicted at 372 million cubic meters, the most since Jan. 24 and above the seasonal normal of 303 million, National Grid Plc (NG/) data show. Flows from Norway, the U.K.’s biggest source of imported gas, were at 91 million cubic meters a day versus a 10- day average of 111 million, Gassco AS data show.

Gas for today gained 12.05 pence to 81 pence a therm, the most since Feb. 10, 2012, before trading at 74 pence at 4:36 p.m. London time. Next-month gas advanced 0.2 percent to 67.05 pence a therm. That’s equivalent to $10.23 per million British thermal units and compares with $3.25 per million Btu of front- month U.S. gas.

via U.K. Within-Day Natural Gas Jumps to One-Year High on Weather – Bloomberg.

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