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 rise on colder forecasts for second half of month, lower IUK imports

Thu, 7th Jan 2021 08:52

LONDON, Jan 7 (Reuters) - British wholesale gas price rose
on Thursday morning as forecasts for the second half of the
month showed lower temperatures than previously expected and
imports through the InterconnectorUK dropped.

* The within-day contract was 2.50 pence higher
at
57.00 pence per therm by 0844 GMT.

* The day-ahead contract was up by 2.40 pence to
56.90
p/therm.

* Consumption is forecast higher for today and imports
through
InterconnectorUK are nominated at 25 million cubic metres (mcm),
down from 47 mcm the previous day, Refinitiv Eikon data showed.

* "Today is likely to be the coldest day in the UK, then
temperatures should start gradually raising. In northwest
Europe, temperatures are expected to continue dropping until the
end of this week," said Refinitiv gas analyst Marina Tsygankova.

* "A colder weather forceast for the second part of January
compared to the previous (one), once again might provide a
bullish risk for prices," she added

* The system was slightly over-supplied by 4 mcm, with
demand
forecast at 387 mcm and supply at 391 mcm/day, National Grid
data showed.

* Gas for power consumption is forecast at 89 mcm/day,
supported
by cold weather, low wind speeds and lower nuclear availability.

* Peak wind generation is forecast at 4.6 gigawatts (GW) on
Thursday and 4.3 GW on Friday, out of total metered capacity of
around 18 GW, Elexon data showed.

* The February UK gas contract was up 2.50
pence at
55.50 p/therm.

* The day-ahead gas price at the Dutch TTF hub
was up
0.72 euro at 18.45 euros per megawatt hour.

* The benchmark Dec-21 EU carbon contract was up
0.42
euro at 34.05 euros per tonne.
(Reporting 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.