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Gas Market Report

NORTH WEST EUROPE: The continuing warm weather combined with ample supply has put pressure on large cargo propane prices. With a major producer selling several cargoes into NWE prices are seen in the mid $850s and defying any strength in crude. Several cargoes are still seen as being available for sale within January while buyers are thin on the ground and will only buy when they feel that prices are at a level that can be justified for tons that will most probably be used within February. With naphtha holding strength then it may be time for a petchem buyer to dip his hand into the pot and take a relatively cheap cargo.

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