UK Gas Prices Rise Most In 8 Years On Explosion, Outages

It has been a tough week already for those that heat their homes in Britain (and those that trade Natural Gas). Following extreme weather warnings and the forties pipeline crack shutdown , an explosion at one of the Europe’s biggest gas hubs further tightened supplies sending gas futures prices up by the most in 8 years. As Bloomberg reports , gas futures rose the most in more than eight years in Britain, which already is struggling to absorb the impact of a crack that shut down a North Sea pipeline network. After snow fell for two days in London, cooler-than-normal temperatures spread from the Alps to Scandinavia, raising demand for heating fuels. (Click to enlarge) An explosion at around 9am at Austria’s main gas pipeline hub, left one person dead and 18 injured, according to police. The facility about 50 kilometers (31 miles) northeast of Vienna transports the equivalent […]

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