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Gas Market Report

NORTH WEST EUROPE: Large cargo propane prices have fluctuated over the week on the ups and downs (mainly down) of crude prices and remnants of January buying as several players tried to cover a handy size option. At the end of the day it seems likely that it will now be covered internally by two porting a large cargo unless prices are offered that are nearer to February values in the $770s. Other buying is very relaxed and will only be filled by sellers offering at February related or equivalent prices. With petchems now showing interest for more cargoes then it may be sufficient to hold the price around present levels of $800–810 for a short while as sellers hope that winter is not yet over.

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