February 17, 2017 / 9:56 AM / 3 years ago

UK GAS-Prompt dips on mild weather; Rough outage reshapes curve prices

Feb 17 (Reuters) - * British within-day gas price falls 2.15 pence to 47.75 pence per therm at 0947 GMT. * Day-ahead contract 1.7 pence lower at 50.10 p/therm. * Thomson Reuters weather data shows temperatures on Monday up to 3 degrees Celsius milder than previously expected. * "Prices are weaker overall, led by the prompt and temperatures warming up, as well as the well supplied system," a trader said. * Centrica's extended injection outage at Rough, Britain's largest gas storage site, until July has reshaped the forward curve, traders said. * Spreads between Q2 and Q3 gas contracts have tightened while the spreads between the summer and winter gas seasons widened, reflecting the risk of inadequate inventories facing Britain next winter, traders said. * "The market faces particular oversupply in June when there will be no injection demand and the InterconnectorUK (pipeline) enters its annual outage," a trader said. * Demand forecast at 268.8 million cubic metres (mcm), flows at around 301.4 mcm/day - National Grid data. System oversupplied by 32.6 mcm. * Day-ahead gas at the Dutch TTF hub down 0.55 euro to 18.35 euros per megawatt hour. * Benchmark Dec-17 EU carbon contract 0.05 euro lower at 4.89 euros a tonne. * Thomson Reuters analyst view: here (Reporting by Oleg Vukmanovic in Milan; Editing by Nina Chestney)

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