Global Natural Gas Report
Date: May 16, 2012
The failure of Greece to reach an agreement to form a government is largely responsible for equities selling off 1% to 3% in Asia. European markets are down around 1% today as well. Most commodities including oil and metals are lower. A meeting between France’s new president Hollande and Germany’s Merkel seems to have gone well with the two announcing they are willing to work on expansionary measures for Greece as long as the electorate votes to meet the Euro austerity measures. Just what this means is yet to be seen. NBP is down as is Sterling and the Euro. Henry Hub is down small so far today. Spreads for NBP-HH in Winter 12 are now down to the $7.30 range. Asian cargo demand is holding off for now and prices may be set to slide a bit with the rest of the commodity world. Prices quoted today are in the $17.75 to $17.90 range.
The Global Nat Gas Report will return on Monday May 21.
Northeast Asia - HH June
15.30
NBP:
Resistance: Jun
55.91 56.58
Support:
54.40 54.00
NBP-HH
|
Jun |
6.270 |
6.284 |
|
Jul |
6.329 |
6.352 |
|
Aug |
6.321 |
6.356 |
|
Sep |
6.476 |
6.512 |
|
Q3 12 |
6.384 |
6.408 |
|
Winter 12 |
7.310 |
7.337 |
|
Summer 13 |
5.693 |
5.706 |
|
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Richard Rosenberg
Vice President, Business Development
ICAP Energy LLC
Richard.Rosenberg@us.icapenergy.com
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