May 9, 2017 / 8:11 AM / 2 years ago

UK GAS-Prices mostly up on lower Norway flows and increased exports

May 9 (Reuters) - British wholesale gas prices were mostly higher on Tuesday morning as exports to continental Europe and storage withdrawals rose increased. * Gas for immediate delivery rose by 0.50 pence to 40.30 p/therm at 0739 GMT. * "Exports have gone up and Langeled (pipeline) flows are down. That is probably behind the rise in the within-day (contract)," a UK gas trader said. * The system was largely balanced with demand forecast at 239.5 million cubic metres (mcm) and flows at 238.8 mcm/day, National Grid data showed. * Uk Continental Shelf production has recovered from recent lows but flows from Norway have weakened slightly. * Exports through the InterconnectorUK pipeline are higher and there is increased withdrawal from the Rough gas storage site. * Send-out of liquefied natural gas is up. * The day-ahead gas price was down by 0.25 pence at 40.10 p/therm. * Temperatures are forecast to start rising from Wednesday which shoul reduce demand for heating. * Further along the curve, the June gas contract was 0.25 pence higher at 36.35 p/therm. * Day-ahead gas price at the Dutch TTF hub was flat at 15.82 euros per megawatt hour. * Benchmark Dec-17 EU carbon contract was also flat at 4.42 euros a tonne. * Thomson Reuters analyst view: here (Reporting by Nina Chestney)

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