Gas prices scrape record highs in the UK as market trembles

Gas prices scrape record highs in the UK as market trembles

Gas prices came close to hitting a record high in the UK on Friday, as the market braced itself for the possibility of further disruption to Russian supplies.

The British day-ahead gas price rose by 104 pence to 454 pence per therm by the early afternoon, just off of its all-time high of 464 p/therm hit last December.

In the Netherlands, prices set a new record high, with the Dutch day-ahead contract up 41.85 euros at a record 196.35 euros per megawatt hour (MWh).