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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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