Friday, 4 February 2011

UK week-ahead gas firms with colder weather

British gas prices for working day-ahead delivery firmed on Friday as temperatures were expected to fall again, and curve contracts continued their four-session upward trend which has been fuelled by firmer oil prices.

The weather was forecast to turn colder again from the start of next week, which is likely to increase gas demand used in heating systems.

The prospect of higher demand lifted Monday gas prices by 0.45 pence to 54.65 pence per therm at 1010 GMT on Friday. Gas for working days next week traded 0.45 pence above Monday's level at 55.10 pence.

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