|Day's Range||2.0740 - 2.2410|
Floating gas terminals are to be anchored off Britain's coast under plans being worked on to boost energy security. Government officials say they are working to support firms who want to install the vessels in the UK, as part of efforts to avoid a repeat of this winter’s energy crisis. It would bolster the UK’s capacity to import from around the world, potentially making it less exposed to gas market shocks as domestic supplies fall.
Freeport LNG shut in June 2022 after a fire. Front-month gas futures for May delivery on the New York Mercantile Exchange (NYMEX) rose 11.2 cents, or 5.3%, to settle at $2.216 per million British thermal units (mmBtu), their highest close since March 24. With gas market volatility rising in recent weeks, open interest in gas futures on the NYMEX rose to 1.32 million contracts on Thursday, the highest since October 2021.
By Barani Krishnan