Sept 1 (Reuters) – British gas prices for delivery on working days next week surged by more than 5 percent on Tuesday on expectations of lower supply.
The contract traded at 40.60 pence per therm at 0740 GMT, 2.15 pence or 5.6 percent up from the previous close on Friday. Monday was a trading holiday in Britain.
“Prices are up on expectations for tighter supplies next week due to resumption of Norwegian exports to the Emden terminal in Germany, and lower liquefied natural gas flows,” said Oliver Sanderson, an analyst at Thomson Reuters Point Carbon. (Reporting by Nerijus Adomaitis in Oslo; editing by Jason Neely)
