Surge in UK gas supplies and improving weather lead to slight price drop

After weeks of non-stop soaring due to the unusually cold weather and fears of diminishing reserves, gas prices are finally on a downward trend, moving closer to the May gas contract values, at 67.50 pence, according to a news report.

As available supplies are starting to surge and the weather also seems to be improving, the pressure on UK gas reserves is likely to diminish over the next few days and weeks. Liquefied natural gas (LNG) imports from Qatar, Algeria and Trinidad and increased pipeline flows from Norway have also helped alleviate some of these concerns.

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