UK gas forwards drop along with power and coal

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UK gas forward prices dropped on Monday, echoing similar falls in most other energy products and failing to carry over gains made during much of last week.
The NBP Winter 2011/2012 gas contract was at 70.85 pence per therm (p/th) at 1000 GMT, down from a close of 71.80 p/th last Friday.

Although the contract’s technical indicators still looked healthy, traders were looking out whether it would be able to sustain itself above its 50 exponential daily moving average (DMA) value of 70.60 p/th at the beginning of this week.

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