<GNN: Energy Statistics from BritainThe Oil DrumFour US Linearizations>

30 comments on The situation in the UK

Comments can no longer be added to this story.

Nick Rouse on January 6, 2006 - 6:02am Permalink | Subthread | Parent | Comments top
Gas is traded on the London International Commodities Exchange, what was until recently the International Petroleum Exchange

A daily average gas price index for front month futures settlements can be obtained for free at
www.theice.com/marketdata/ukNaturalGas/ukNatGasIndex.jsp

Continuous spot prices have to be paid for.

As you can see fron the index the price rose from GBP 2.788/Million BTU ($5.04)on June 29 2005 to peak at GBP 10.843/Million BTU ($18.76)on December 3 2005 and has now fallen back to GBP 8.292/Million ($14.59)

0
Comments can no longer be added to this story.
Oil CEO on January 6, 2006 - 6:28am Permalink | Subthread | Parent | Comments top
Using 1,027,000 BTUs per 1000 cf, we get $14.98/1000 cf basically the same as where it was in the US two weeks ago. On Dec 3rd it looks like it hit about $19.50. When you convert these BTU's to oil equivalent you're still looking at only about $90. Well within reason.

But don't quote me on those numbers. Isaiah will be all over my case.

0
Comments can no longer be added to this story.