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Gas Market Report.

Publication: Europe Intelligence Wire

Publication Date: 31-OCT-05
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COPYRIGHT 2005 Financial Times Ltd.

(From Lloyds List)

NORTH WEST EUROPE: The effect of production problems has left first half November bereft of surplus tons. The large cargo propane remains in short supply for anything except contract tons and spot buyers bidding in the high $550s for first half November are seeing no counters but sentiment puts numbers in the $560s.

Butane prices have started to weaken, more on the lack demand rather than over supply. Numbers are assessed as being in the $580s but are hanging on a precipice and may go either way. However, it seems unlikely that anyone will move until after monthly pricing is announced.

The propane coaster market appears to be at a stand still the feeling this week. The temperature hasn't changed and inland demand remains limited. Product movement is only taking place to cover contractual deliveries, but this is done from within sellers system or on a confidential basis. The fob level is estimated in the high $550s but with no deals reported this week. The cif level is thought to be in the mid $590s.

Coaster butane activity has been...

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