UK gas prices stay high on cold weather, low stocks

Share

British spot gas prices remained firm between Wednesday and Thursday morning because cold weather and low stocks caused a tight system.

Prices are expected to fall however, as warmer weather begins to move in and Norwegian supplies improve.

Both gas prices for next day and for within day delivery were trading at 82 pence per therm at 0900 GMT on Thursday, slightly higher than the previous morning (see chart 1).

The high prices are a result of unusually cold weather and low stock levels.

At 316.9 million cubic metres (mcm), Thursday’s gas demand was expected to be more than 20 percent above the seasonal norm, according to National Grid, although flows of 327.9 mcm, which include storage withdrawals, were expected to meet demand.

via UK gas prices stay high on cold weather, low stocks | Reuters.

Share

Comments

comments