Global Natural Gas Report
Date: February 22, 2012
European equity markets are lower after European PMI numbers were reported to show a contraction reading of 49.7 for February vs. a January reading of 50.4. The results are well below analyst expectations and showed a strong pullback from the private sector. Asian markets were mostly higher today with little strong news. Crude oil and most commodities are slightly lower with WTI in the mid $105 level. NBP is stronger on cooler weather and Sterling is weaker with the Euro. Henry Hub is a couple of cents lower so far in thin trading at the $2.60 level. Spreads for NBP-HH are stronger with the surge in NBP to $7.90 for winter 12. Asian markets are showing some interest in bidding for cargoes again and prices are rising to the $14.90 level.
Northeast Asia - HH March
12.30
NBP:
Resistance: Mar
59.60 60.30
Support:
58.08 57.40
NBP-HH as of 7:00 EST
|
MAR |
6.639 |
6.652 |
|
APR |
6.541 |
6.562 |
|
MAY |
6.398 |
6.425 |
|
JUN |
6.106 |
6.150 |
|
Q2 12 |
6.470 |
6.499 |
|
Summer 12 |
6.396 |
6.433 |
|
Winter 12 |
7.900 |
7.945 |
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Richard Rosenberg
Vice President, Business Development
ICAP Energy LLC
Richard.Rosenberg@us.icapenergy.com
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