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U.K. Gas for Winter Rises to 21-Month High as Crude Advances

Date: Mon, 7 Mar 2011

 Gas for winter, the six months from October, rose as much
as 1.5 pence, or 2.2 percent, to 68.4 pence a therm, its highest
price since May 15, 2009, according to broker prices compiled by
Bloomberg. It was at 68.3 pence at 8:55 a.m. in London, equal to
$11.14 a million British thermal units.
     Summer gas gained as much as 3.1 percent to 58.65 pence,
its highest since April 15, 2009.
     “The potential disruptions of gas production in countries
currently under social unrest are significant,” Goldman Sachs
Group Inc. said in an e-mailed report dated yesterday. “Global
gas markets could face a negative supply shock.”

 

Bloomberg UK Gas Chart

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