Monday, July 9, 2007

U.K. Day-Ahead Natural Gas Touches 2007 High on Reduced North Sea Supply

(Bloomberg) -- U.K. natural gas for delivery a day
ahead rose to the highest this year following an announcement
last week that flows of the fuel through a BP Plc pipeline may
be halted for a matter of weeks, reducing supply onto the grid.

Day-ahead gas rose as much as 4.5 percent to 32.25 pence a
therm, the highest since Dec. 21, according to prices on
Bloomberg from energy broker Spectron Group Plc. It traded at 31
pence a therm at 8:22 a.m. in London, equivalent to $6.24 per
million British thermal units. A therm is 100,000 Btus.


Read more at Bloomberg Energy News

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