Gas prices on the rise as Britain shivers
11 April 2012
The cold snap prompted a jump in gas prices today despite large shipments of liquefied natural gas arriving this week.
Traders predicted prices would fall quickly, however, once the weather improved, as the fundamental market for gas remains relatively over-supplied due to the economic slowdown's impact on industrial energy demand.
"I think this is still going to be a dead year in terms of demand.
"There are still plants that are off in the UK."
Gas for Friday delivery stood at 37p a therm, up 0.7p.
Cold weather was expected to push demand up by about 20% more than usual for the time of year today, National Grid data showed.
