But with the global gas market so well-supplied, and the length of the nuclear plant outages unknown, the gains could prove short-lived, traders said. Winter gas contract prices had risen to 68.8 pence per therm by 1420 GMT, around 4% higher from Thursday.
OIL FUTURES:Nymex Crude Tumbles As Massive Quake Hits Japan
Crude futures fell sharply Friday after a massive earthquake in Japan, the world's third-largest oil consumer, though traders kept watch for any news of spreading unrest in the Middle East and North Africa. Light, sweet crude for April delivery recently traded $2.92, or 2.8%, lower at $99.78 a barrel on the New York Mercantile Exchange. Brent crude on the ICE futures exchange traded $2.40 lower at $113.03 a barrel. Read More...
UK Gas Prices Surge On Japan Earthquake
At least two nuclear power plants on Japan's Pacific coast shut down following the 8.9 magnitude quake that hit the country Friday morning, leaving market watchers wondering as to the extent of the damage. Read More...
Japan quake shakes UK gas market LNG supply fears
British gas prices rose on Friday as emergency shutdowns of Japanese nuclear plants after an earthquake sparked concerns the world's biggest liquefied natural gas consumer could need more LNG over coming months, traders said. Prices for gas to be delivered next winter climbed by 1.6 pence to 68.30 pence per therm, while Summer 2011 contracts firmed 1.85 pence to 59.75 pence, and April jumped 2.20 pence to 59.75 pence ($9.58 per mmbtu). Read More... For the latest updates PRESS CTR + D or visit Stock Market news Today
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