We chatted to IronRidge Resources' CEO Vincent Mascolo who explains why the company has become a lithium explorer. Watch the video here.

Less Ads, More Data, More Tools Register for FREE

UK GAS-Prices hit fresh over 2-year highs on LNG prices, colder temperatures

Tue, 12th Jan 2021 09:56

Jan 12 (Reuters) - British wholesale gas prices soared to
fresh more than two-year highs on Tuesday as colder weather
stoked demand and rocketing Asian liquefied natural gas (LNG)
prices curbed supply to Europe.

* The within-day contract was up 5.00 pence at
pence per therm by 0937 GMT, its highest level since October

* The day-ahead contract was up 3.80 p at 71.00

* Traders said temperatures were forecast to go lower and
prices of LNG had lifted gas prices across Europe.

* Asian LNG prices have rocketed over the last few weeks as
weather grips the region, hitting record highs.

* As a result, fewer tankers are arriving in Europe.

* The Boris Davydov LNG tanker is docked at Britain’s Isle
Grain terminal, but no other LNG tankers are scheduled to arrive
over the next few weeks.

* Meanwhile colder temperatures in Europe are also pushing

* "Sudden stratospheric warming is bringing cold arctic air
into Europe as well, which has led to a surge in power demand,”
analysts at Barclays said in a research note

* “This lowered the previously robust storage level to a
level and sent the European natural gas prices to a two-year
high,” Barclays analysts said.

* Average temperatures in Britain were forecast at 5.3
Celsius for Tuesday, falling to 3.5 C on Wednesday Refintiv
Eikon data showed.

* The forecasts were 0.7C and 2C respectively lower than

* The February contract was up 5.25 p at 72.50
p/therm, the highest price for the font month contract since
November 2018.

* The day-ahead gas price at the Dutch TTF hub
was up
1.65 euro at 23.95 per megawatt hour.
(Reporting By Susanna Twidale; editing by Nina Chestney)

More News

RPT-COLUMN-Hedge funds sell oil as bull run stutters: Kemp

(Repeats March 1 column with no changes. John Kemp is a Reuters market analyst. The views expressed are his own)* Chartbook: https://tmsnrt.rs/3dXdj1KBy John KempLONDON, March 1 (Reuters) - Hedge funds have reduced their position in petroleum futur...

Today 01:00

RPT-COLUMN-Bulls run wild: Chinese funds throw more fuel on copper's flames: Andy Home

(Repeats Monday's column with no changes to text)* The opinions expressed here are those of the author, a columnist for Reuters.* Dalu Futures copper position in Shanghai: https://tmsnrt.rs/2ZH80Lz* Investment fund positioning on LME copper: https:...

Today 01:00

At least 1,500 Britons killed by climate change-fuelled heat this century

By Hugo GreenhalghLONDON, March 2 (Thomson Reuters Foundation) - At least 1,500 deaths in Britain can be directly linked to climate change since 2000, as the country grappled with severe heatwaves, while four major floods caused billions in financ...

Today 00:01

US close: Stocks rally as bond yields retreat from recent highs

(Sharecast News) - Wall Street stocks closed sharply higher on Monday as Treasury yields retreated from last week's highs and some positive vaccine news helped boost sentiment among investors.

1 Mar 21 22:40

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.