Gas Market Report
NORTH WEST EUROPE: Large Cargoes: The large propane market has continued to fall over the past week on the back of falling crude and naphtha. This combined with lacklustre demand, plentiful supply and the petchems reselling cargoes has placed prices in the $500s with the strong possibility of going even lower in the near term. Imports into the area have eased over the last week with several WAF cargoes heading west and only one seemingly heading into NWE for arrival very early November. Any demand into ARA is thought to have been on the back of refinery shutdowns in the area (which are now starting to come back) and coasters lifting out of terminals as the fob Seagoing market remained much higher than the cif replacement costs.
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