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LONDON, Jan. 3 (Xinhuanet) -- Natural gas prices fell on Tuesday in electronic
European trading as Russia was restoring full natural gas deliveries to its
European customers.
In morning trade in Europe, natural gas prices dropped by 42.5 U.S. cents
to 10.80 U.S. dollars on the New York Mercantile Exchange, with prices climbing
to as high as 10.94 U.S. dollars before settling back.
According to the analysts, Russia's state-run gas giant Gazprom's efforts
to restore gas flow had helped ease upward pressure on the prices.
Light, sweet crude oil for February delivery won 10 cents to 61.14 U.S.
dollars a barrel.
Heating oil gained slightly to 1.7634 U.S. dollars a gallon (3.8 liters),
while gasoline was 1.7230 U.S. dollars a gallon.
Germany's biggest gas importer, EON Ruhrgas, said on Tuesday that gas
supplies from Russia to the country went back to normal.
"The pressure in the pipelines was back to normal as of this morning," an
EON spokesman said.
Meanwhile, other European buyers of Gazprom's natural gas including
Hungary, Austria and Slovakia, also reported resumption of normal flow after
Gazprom increased shipments via Ukraine following a chorus of protest over its
decision to cut off supplies to its neighbor on Sunday as Kiev rejected to meet
its demands for a steep price increase.
The price dispute between Moscow and Kiev raised fears of gas shortage in
European states as around one-fourth of Europe's gas comes from Russia. Enditem
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