Wholesale gas prices rose on Monday and power markets also drew some support from tight supplies, although traders predicted power supply margins would improve as more plants returned to service. Gas for delivery on Monday rose by 0.75 pence per therm to 55.25 pence, while baseload power for Tuesday traded mostly around 82.00-83.50 pounds per megawatt hour.  A modest recovery in oil prices, which can dictate long-term gas contracts, helped to push up Winter 2008 gas by 0.55 pence to 89.25 pence per therm. The shutdown for upgrade work of Shell’s import terminal in Scotland on Monday cut supplies of gas, while a sharp, short drop in flows into another terminal at St Fergus added to supply tightness. But gas prices for the balance of week traded at around 53.25 pence per therm, with supplies expected to improve over the next few days, traders said. The first liquefied natural gas tanker in over three months is expected to arrive at the UK’s Isle of Grain terminal in Kent midweek. Power supplies were also tighter, despite the restart of the Hunterston B8 nuclear reactor over the weekend. ‘The margin is a little tighter than last week,’ one trader said, adding that power prices would likely ease if the gas prompt weakens as expected during the week. Oil was trading at just under to $114 on Monday, and the recovery from falls last week to below $112 helped to drive carbon prices higher, with carbon emissions for December 2008 rising 47 euro cents to 23.66 euros.