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Gas Market Report

NORTH WEST EUROPE: Large cargoes: We asked last week “how low can prices go?” The answer seems to have been into the $290s but as expected a rebound was seen with prices heading into the high $350s on the back of demand emerging for early December cargoes. Is this wishful thinking that demand is on the up or is it a reaction to several large cargoes leaving the area and potentially leaving any spot tons short on the ground for early December. However, we have not seen the back of November yet as at least one seller is struggling to place a part cargo.

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