UK prompt gas prices fall as next week forecast milder

London (Platts)--3Feb2006

Prompt gas prices on the UK National Balancing Point fell sharply
Friday from Thursday's close. Weather forecasts for the week ahead brought
down Monday's price by 11.5p to 67p/th. Within-day prices also retreated 13.1p
to 71.9p/th as the system was long through the morning and 12-mil cu m long at
lunch.
     Prices for weekend delivery were off a penny to 65.4p/th while next week
was flat at 67p/th. The price for the following week, however, was run up to
72p/th on the prospect of cooler temperatures, traders said. The balance of
month was being exchanged at 68.5p/th at midday.
     The front month, March, also rose by a penny to 63p/th with plenty of
trade reported in that product.

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