RTE: Rise in oil prices offsets big drop in natural gas prices - energy index

Steep rises in the price of wholesale oil offset declines in wholesale natural gas prices in June, the latest energy index from Bord Gáis shows. The Bord Gáis energy index stood at 133 in June, unchanged from the same time last year.

Bord Gáis said that Brent crude hit a yearly high in June, as the tensions in Iraq worried investors and raised concerns about the availability of global oil supplies to meet rising demand.

However, these price rises were offset by a 12% drop in the average UK natural gas price. The June index shows that its oil element rose by 2% as the market became very alarmed by the emergence of the ISIL in Iraq.
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