U.K. Gas on Longest Winning Streak in Nine Years on Absent LNG

Inspired Energy’s Risk Manager Nick Campbell is featured in Yahoo and Bloomberg, giving his views on UK Gas and it’s longest winning streak in nine years on absent LNG…

Gas for next-day delivery in the U.K. is on its longest rising streak since at least 2007, when records of broker data compiled by Bloomberg began. The contract has added 23 percent this month, after rising 52 percent in September in the largest monthly gain in at least nine years.

Prices for the heating fuel have gained amid cold weather and the longest dry spell for liquefied natural gas imports in two years. The U.K. didn’t receive any LNG cargoes in the first half of October as tankers instead sailed to markets where they could fetch higher prices, leaving less supply for Britons turning on their heaters for the first time since last winter.

“The start of the northwest European heating season has overlapped with strong demand for LNG from Asia as they replenish their stocks, reducing cargoes to the U.K.” said Nick Campbell, an energy risk manager for Inspired Energy Plc in Preston, England. “Cooler weather tomorrow, expected to support heating demand, has also helped push the product higher.”

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