Wednesday 14 March 2012

International economic woes hit gas prices

International economic woes hit gas prices

Negative employment figures in Germany and US industry weaknesses affected gas prices, according to npower's fortnightly market report.

Magali Hodgson, npower Optimisation Desk Manager said "poor German employment data, disappointing US manufacturing data and low UK demand" meant gas prices finished down.

In contrast oil prices "continue to make strong gains", trading consistently above $120/bbl, she said.

This was because of "tensions in Iran, positive Asian manufacturing data, supply disruption in Sudan and Greece securing over 70% participation in its private sector debt," she added.

Written by

Bruna Pinhoni

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