UK GAS-Prices fall after a week's gains, higher temperatures

LONDON, May 7 (Reuters) - British wholesale gas prices fell
on Friday morning after rising all of this week, with
temperatures forecast to go up from tomorrow.

* The within-day contract was down 2.40 pence
at
67.10 pence per therm by 0910 GMT.

* The weekend contract was 1.50 pence lower at
61.50
p/therm.

* Prices have been rising this week, so there is some
correction
today, a gas trader said.

* Temperatures are forecast to increase tomorrow to an
avergae of
around 11 degrees over the weekend, before going back towards
normal levels next week, Refinitiv Eikon data showed.

* Day-ahead local distribution zone consumption is forecast
to
fall by 25 million cubic metres (mcm).

* "Prices are at such highs a small pullback seems
plausible.
Technicals show a strongly over-bought day-ahead contract and a
modicum of downside looks inevitable but fundamentals are strong
and can limit any weakness," said Refinitiv gas analyst Wayne
Bryan.

* UK gas-for-power demand is forecast to fall on Monday as
wind
speeds are forecast at around 9 gigawatts and is set to remain
strong before slumping back below normals from Wednesday.

* On the supply side, some Norwegian supply has been
re-routed to
continental Europe and liquefied natural gas send-out is
slightly lower.

* The system was almost balanced with supply forecast at 228
mcm
and demand at 230 mcm, National Grid data showed.

* The June contract was 0.75 pence lower at
61.50
p/therm.

* The June gas price at the Dutch TTF hub was
down by
0.40 euro at 23.90 euros per megawatt hour.

* The benchmark Dec-21 EU carbon contract was 0.19
euro
lower at 49.75 euros a tonne.
(Reporting by Nina Chestney)

National Grid