British Gas Rises to Highest Price in 19 Weeks

Reuters reported that rising demand and a drop in supply brought British prompt gas prices up to a 19-week high.

As quoted in the market news:

Gas for Friday delivery touched 60.90 pence per therm, its highest level since May 4 and up 0.85 pence day on day.

Prices had eased to 60.50 pence by 1500 GMT but remained 0.50 pence up on Wednesday’s settlement.

Britain’s gas market supply was expected to be 138.7 million cubic meters (mcm), National Grid data showed at 1400 GMT, down 2 mcm from forecasts made in the morning.

Click here to read the full Reuters report.