Benchmark British wholesale gas prices will stay elevated for the rest of 2018, as operators across Europe race to replenish inventories that have plunged to their lowest in at least five years. Prices soared to record highs in March as freezing temperatures lifted gas demand to its highest level since 2010, drawing down stocks across Europe and exacerbating tightness from outages and reduced liquefied natural gas (LNG) imports. Britain, whose gas prices are a benchmark for other European hubs, relies on reserves to manage its winter demand. It will need to refill at a record pace this summer, at a time when European nations are also chasing extra supplies. Adding to Britain’s headache, what was its largest storage site, Rough, has now closed, removing an extra cushion to […]