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Gas Market Report

NORTH WEST EUROPE: Large cargoes: The large cargo propane market continues to rise on the back of record highs on crude. As the first half of May trading was completed all eyes started focusing on second half May deliveries with several companies bidding to cover positions during the 15-25 May period at prices equivalent to the low $860s. One buyer for storage tested the market for a 15-30 May arrival at $862 and May – $1 and was taken out which was not a complete surprise as several cargoes are expected to be available over the last 5-7 days of May.

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