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Uk Gas Prices Rise As Norwegian Exports Drop

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ONDON, April 28 (Reuters) - Wholesale British gas prices rose for a second consecutive day on Thursday after exports by one of Britain's biggest gas sources were cut. The shutdown of the Ormen Lange gas plant overnight, which can supply about a fifth of Britain's demand, left the UK system short of gas on Thursday morning, according to data from National Grid. NGRID-LIN-CHG

Within-day gas prices rose to a high of 55.75 pence per therm at 1015 GMT, nearly a penny higher than Thursday gas traded at the end of the previous session, while prices for gas delivered next month rose to 59.90 pence ($9.93 per mmbtu), up 0.65 pence and Winter 2011/12 hovered around 71.65 pence.

UK gas prices fell early last week after top LNG exporter Qatar said on April 16 it had agreed to send about 5 percent of its annual capacity to Japan, despite the deal being likely to reduce the amount of gas being delivered to Britain.

But the UK gas market has been lifted as influential U.S.-based investment

Looks like more of a headache for Uk consumers.

bank Goldman Sachs raised its UK gas price forecasts for this year because of Japan's increased LNG buying. [iD:nLDE73Q1YS]

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The Blair feelgood legacy.

Years of suppressed consumer prices and underinvestment. The least bad hangover we could hope for is a big price shock.

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  • 316 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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