Wednesday, 2 February 2011

Can a Possible Oil Crisis Affect UK Commercial Gas Prices?

The answer is yes, but right now despite oil prices peaking at there highest level in 28-months that is not the case,  thanks to an oversupply of commercial gas from Norway.

High oil prices are affecting the far curve; traders are very concerned that the crisis in Egypt could interrupt oil shipments through the Suez Canal. 

British wholesale gas prices fell on Monday and early Tuesday as Norway kept the UK gas system oversupplied cutting dependence on storage and LNG supplies.

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