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Gas Market Report

NORTH WEST EUROPE: Large cargoes With recent hikes in crude we have seen the large propane numbers climb back into the $860s. This is despite several short positions being covered last week and imports still heading into the area into storages that are almost full and the petchems well supplied. Can these levels last? There is a feeling that we may see a collapse in prices but as long as there is support from the paper market and crude then they will continue at or above these levels as players put more emphasis on paper.

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