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    Reuters: UK GAS-Prices climb on fears of Russian supply cut, colder weather

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Summary

Mounting tension between Russia and Ukraine could disrupt Russian gas supplies to Europe and prospects for colder weather results in British gas price hike.

by: Sruthi

Posted in:

Press Notes

Reuters: UK GAS-Prices climb on fears of Russian supply cut, colder weather

British wholesale natural gas prices climbed on Tuesday morning on fears tension between Russia and Ukraine could disrupt Russian gas supplies to Europe and prospects for colder weather.

Ukrainian police detained 70 pro-Moscow protesters occupying a regional administration building in eastern Ukraine overnight, while Russia's Foreign Ministry warned Kiev against using force against pro-Russian demonstrators.

Russian troops are massed on the border with Ukraine, a major transit route for Russian gas to Europe.

Gas for next-day delivery rose to 52.15 pence per therm at 0905 GMT, up 0.45 pence from Monday's close, after rising steeply on Monday afternoon.

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