Tuesday, 24 May 2011

UK gas prices rise on oil, tight supply

British gas prices rose on Tuesday as a drop in liquefied natural gas terminal flows pressured short-term supply and rising oil pressured the curve.

Gas for delivery on Tuesday or Wednesday rose to 58.50 pence per therm, up about half a penny on the previous close, after inputs from Europe's biggest import terminal, South Hook, tumbled overnight, adding to supply constraints from maintenance on North Sea infrastructure.

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