Wholesale British gas prices rose again on Monday

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Wholesale British gas prices rose again on Monday as supplies tightened with a drop in flows from liquefied natural gas (LNG) terminals and firm oil prices supported curve contracts.

The winter 2011/12 gas rose nearly half a penny to a two-month high of 73.25 pence per therm at around 1130 GMT, while prices for July rose by a similar amount to 58.70 pence.

Prompt prices also fell as flows from all of Britain’s big LNG terminals into the network fell sharply on Monday morning, pushing within-day prices up to a high of 59.75 pence while gas for delivery on Tuesday rose to 59.65 pence.

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