Thursday, 27 October 2011

UK gas prices fall on healthy supply outlook

British forward gas prices fell on Wednesday, guided by warmer than normal temperatures and falling crude oil prices while prompt markets were well supplied.Fears that a convincing, comprehensive plan to tackle Europe's debt crisis will remain out of reach following a meeting of European Union heads weighed on crude oil markets, pressuring curve gas contracts.The benchmark summer 2012 gas contract fell 1.15 pence at 62 pence-per-therm on Wednesday as crude oil gave up earlier gains, dropping more than $1.5 per barrel.

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