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Gas Market Report

NORTH WEST EUROPE: With several handy size April positions being fulfilled reportedly around the high $810 level, this has left no surplus tons to satisfy the one possible buyer of a handy. This buyer is having to bid the market higher, up to the low $830s but has not so far attracted any offer that meets his requirements. The 20 kt size market is more subdued with only one potential buyer left for April delivery. To add more confusion to the market we are seeing one import from the Med of 30 kt arriving in April, whilst a couple of players are actively seeking to export large cargoes early in May. Does this mean that we could see the long expected drop in prices? It really all depends on how the players react to the fluctuating crude prices.

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