End of winter pushes U.K. natural gas to longest slide in decade

Mild weather has dampened demand for natural gas in the UK and the front-month contract gas has seen its longest decline streak since 2007.

Photo: Dong Energy, PR

The bears are firmly in control of Europe’s oldest natural gas market heading into the final week of the winter season.

The front-month contract is set for a seventh weekly decline, the longest such streak since February 2007, as mild weather is seen damping demand. Above-average supply from Norway, the U.K.’s biggest foreign supplier, is being supplemented with increased LNG as tankers find their way back to northwest Europe after favoring Asia over the winter.

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