Tuesday, July 3, 2007

U.K. Natural Gas Day Ahead Reverses Decline After Fuel Supply Forecast Cut

(Bloomberg) -- U.K. natural gas for next-day
delivery was little changed after revised forecasts showed a
decline in expected supplies of the fuel.

Day-ahead gas traded at 24.2 pence at 12:16 p.m.,
equivalent to $4.88 a million British thermal units. Earlier, it
had fallen as much as 2.5 percent to trade at 23.9 pence a therm
at 8:27 a.m. in London, according to prices on Bloomberg from
the broker ICAP Plc. A therm is 100,000 Btus. Gas for intraday
delivery rose 0.4 percent to 24.85 pence a therm.


Read more at Bloomberg Energy News

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