Reuters: UK GAS-Prompt prices edge higher on undersupplied system

British prompt prices for wholesale natural gas edged higher on Tuesday morning as continued maintenance at a North Sea platform and lower gas exports from Norway led to an undersupplied system.

Gas prices for within-day delivery traded at 39.10 pence per therm at 0836 GMT, up 0.10 pence on Monday's close. Prices for Wednesday delivery were up 0.30 pence at 38.85 pence per therm.

With supply flows at about 164.8 million cubic metres (mcm) per day on Tuesday and demand expected to be about 185 mcm, the system was 20.2 mcm undersupplied, National Grid data showed.

The St Fergus gas terminal, which went into an outage of 10 mcm per day on May 30, was initially expected to resume gas supplies on June 27, but operator Total extended the interruption.
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