The U.K. is too large a market for European oil and gas sellers to be marginalized too much by its exit from the European Union, said Simon Flowers, chairman and energy chief analyst at global oil consultancy Wood Mackenzie. In an interview with The Wall Street Journal, Mr. Flowers said the U.K. could be subject to some tariffs on oil and gas from the EU as part of any new trade deal. However, global markets for both resources are oversupplied and there is enough competition for the U.K. to ensure it still gets a good deal, he added. The U.K. “buys a lot of energy from Europe, especially gas, and there is no question it is one of Europe’s largest markets,” Mr. Flowers said. “But, it can just as easily buy liquefied natural gas from the U.S. or elsewhere if any proposed tariffs prove to be too high.” Mr. […]