Warm Weather Pushes U.K. Gas to Biggest Weekly Loss Since 2009
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U.K. natural gas had the worst weekly loss in more than four years as warmer-than-usual weather hit most of northern and central Europe, helping reduce demand for the fuel used in heating.
Front-month gas fell 0.3 percent today, paring its weekly decline to 7.7 percent, the biggest drop since November 2009, on the ICE Futures Europe exchange in London. Temperatures in the south of Britain this week were as much as 5 degrees Celsius (9 degrees Fahrenheit) higher than usual, while Germany was as much as 8 degrees above normal, Donald Keeney, a meteorologist at MDA Weather Services in Gaithersburg, Maryland, said by phone today.