Gas Market Report

NORTH WEST EUROPE: Large Cargoes: Despite a lack of buyers and talk of imports into the area the large cargo propane prices are still maintaining their high levels on the back of the increasing crude price. Cargoes are being talked in the $930s although very little interest is being shown from buyers but whenever a buyer does appear anywhere near to a current market price they are taken out very quickly. July still holds a $10 premium above June but the question is will this come off to meet June levels or will June continue to increase. At the moment the former seems the obvious answer.