Bulls start to get grip of market

21 November 2006

The prompt is picking up and driving some of the front curve higher.

The prompt started to be bought up a little more with slightly colder weather and more worries associated with plant availability specifically the Nuclears. British Energy annoucements hinted that some of their plant would be out for several months and into Q1 0&. Given that the gas market has seen some sustained falls most are reluctant to sell length as they believe that the fundamentals of Langeled and BBL will not effect the market for some time and perhaps Summer will be the main beneficiary.

Most gas traders are taking the view that they might as well keep the length just in case there is slippage.

Perhaps the most important thing to note is that this is clearly a change in mood with the bulls returning and suggesting that the market has been over sold.


Gas  Nuclear  Bull Market  Prompt 

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