LONDON: British wholesale gas for immediate delivery fell on Monday morning amid oversupply but other contracts rose as higher demand forecasts helped to lift prices.
Gas for immediate delivery was 0.60 pence lower at 13.00 pence per therm by 0800 GMT.

The system was oversupplied by 15 million cubic metres (mcm), with demand forecast at 191 mcm and flows at 206 mcm/day, National Grid data shows.

Total Norwegian flows are 9 mcm higher than the previous working day at 31 mcm.

Total UK Continental Shelf terminal receipts are at 134 mcm, up 8 mcm from Friday, as outages at Barrow North and Teeside CATS have ended.

Liquefied natural gas send-out was also higher, nominated at 50 mcm, compared to 39 mcm last Friday.

The day-ahead contract rose by 0.25 pence to 13.25 p/therm.

The UK month-ahead price was 0.40 p higher at 14.00 p/therm and the August contract was 0.35 p higher at 15.00 p/therm.

Gas-for-power consumption is forecast higher amid lower wind output.

Peak wind generation is forecast at 4.9 gigawatts (GW) on Monday, falling to 1.3 GW on Tuesday, out of a total metered capacity of around 15 GW, Elexon data shows.

Local distribution zone consumption is at 89 mcm/d, a level not seen since May 16.

Average temperatures are around 9 degrees, sharply down from last Monday's 17 degrees, said Wayne Bryan, gas analyst at Refinitiv.

The month-ahead gas price at the Dutch TTF hub was up 0.22 euro at 5.79 euros per megawatt hour.