Thursday, 13 September 2012

UK gas prices firm on short supply


British prompt gas prices edged higher on Thursday morning on the back of a shortage in the system, although analysts said improved supplies later in the day could turn the market bearish.

Gas for Friday delivery was 0.50 pence higher at 60.50 pence per them at 0830 GMT on Thursday as demand outstripped supply by 16.4 million cubic meters (mcm), National Grid data showed.

Prices, however, were expected to move lower later in the day as supply ramps up, analysts at Thomson Reuters Point Carbon said.

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