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Gas Market Report

NORTH WEST EUROPE: Falling crude and the lack of end user buying has seen large cargo propane prices fall to the low $800s over the last week. Added to this a large cargo from West Africa heading for the region has also put pressure on prices. Without the support of a rise in crude and/or cold weather then prices are expected to head even lower and could well be in the $780’ before the end of the month. The only salvation on prices might be the petchems who have already bought two cargoes in the range of naphtha minus $10-20.

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