U.K. Gas for Winter Rises to 21-Month High as Crude Advances

March 7 (Bloomberg) -- U.K. natural gas for delivery next winter rose to its highest in more than 21 months after Brent crude gained.

Gas for winter, the six months from October, rose as much as 1.5 pence, or 2.2 percent, to 68.4 pence a therm, its highest price since May 15, 2009, according to broker prices compiled by Bloomberg. It was at 68.3 pence at 8:55 a.m. in London, equal to $11.14 a million British thermal units.

Summer gas gained as much as 3.1 percent to 58.65 pence, its highest since April 15, 2009.

"The potential disruptions of gas production in countries currently under social unrest are significant," Goldman Sachs Group Inc. said in an e-mailed report dated yesterday. "Global gas markets could face a negative supply shock."

(Source: http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2011/03/07/bloomberg1376-LHOJPJ6JTSEA01-0RC5MN0RKH2OLS1Q3AL000DFSD.DTL)