Global Natural Gas Report
Date: March 9, 2010
NBP Sold off sharply this morning as Utilities who have been the biggest buyers switched sides and sold on the promise of warmer weather ahead. The dollar also strengthened significantly against both the Euro and Sterling due to worries over Greece and other sovereign debts. Henry Hub remained flat with little change. Due to the sellof in NBP and the strengthening of the dollar spreads have moved in nicely. The entire front curve is now negative with HH over NBP. In Asia TEPCO announced the nuclear plant coming off line for maintenance will be down for 90 days. There is speculation this may increase Japan’s demand for spot LNG. JKM is little changed today so far.
JKM-HH:
Apr 1.52
NBP:
Resistance:
30.00 30.41
Support:
29.15 28.60
HHUB:
Resistance:
4.655 4.789 4.869 5.000
Support:
4.54 4.458 4.287 4.157
NBP-HH as of 8:00 EST
|
Apr |
-0.108 |
-0.088 |
|
May |
-0.250 |
-0.232 |
|
Jun |
-0.326 |
-0.306 |
|
July |
-0.444 |
-0.373 |
|
Q2 10 |
-0.260 |
-0.510 |
|
Summer 10 |
-0.334 |
-0.301 |
|
Winter 10 |
0.487 |
0.490 |
Richard Rosenberg
Vice President, Business Development
ICAP Energy LLC
Richard.Rosenberg@us.icapenergy.com
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