March 31 Prompt British wholesale gas prices
fell on Friday morning due to an oversupplied system and lower
* British day-ahead gas price inched down by 0.05
pence to 39.80 pence per therm at 0838 GMT.
* Within-day contract down by 0.55 pence to 39.40
* System undersupplied by 29.5 million cubic meters (mcm), with
demand forecast at 212.1 mcm and flows at 241.6 mcm/day,
National Grid data shows.
* Demand forecast 31.5 mcm lower than seasonal normal demand.
* "(UK gas) prompt has declined due to oversupply, which has
pulled the day-ahead contract lower. Brent crude and API2 coal
prices are down slightly today. These factors have pulled curve
contracts lower," said Katrina Oldham, an energy trader at
* "Actual LNG (liquefied natural gas) send-out could impact the
market next week depending on whether expectations are met,"
* Britain's Met Offices forecast temperatures could reach 15-16
degrees Celsius in the southeast of the country, falling to
around 13 degrees C by next Tuesday.
* Thomson Reuters analysts said strong supplies from Norway,
lower exports through the InterconnectorUK and soft consumption
were the main reasons for price declines.
* Peak wind power output is forecast at 5.5 gigawatts (GW) for
Friday, expected to fall to 3.4 GW on Saturday, National Grid
data showed, which could boost gas-for-power demand.
* Four LNG tankers are due to arrive in Britain over the next
two weeks, adding to supplies.
* April gas contract down by 0.35 pence to 40.25
* Summer 2017 contract down by 0.58 pence to 40.05
* Day-ahead gas price at the Dutch TTF hub up by
0.02 euro to 15.70 euros per megawatt hour.
* Benchmark Dec-17 EU carbon contract down by 0.02
euro to 4.90 euros per tonne.
* Thomson Reuters analyst view: here
(Reporting by Lefteris Karagiannopoulos in Oslo; editing by