Spot Market Remains Long; Awaits Asian 3Q Buying for Peak Summer Demand
Fifth Largest Injection on Record, But Futures Rally
In what has become an increasingly familiar trend, early-week
Producers Play Central Role in European Spot Price Outlook
It is pretty simple formula at this point: if one or more of the major gas suppliers do not cut back production significantly and soon, spot prices are going down severely. The threat of a Russian gas cut-off appears to be diminishing with every public pronouncement, but the situation with European gas balances has become so weak that some combination of Russian, Norwegian, Algerian or Dutch reductions is going to be necessary one way or another.
Narrower Fossil Fuel Requirements During the Summer Limit Fuel Switching
While wind and solar generation across
Regional BIT/SUBBIT coal stocks have tended to level on a relative basis due to changes in gas basis, regional weather patterns, weaker exports, and priority rail service to plants with low stocks. We show SUBBIT days' cover as critically low (approaching post-2005 twin derailment levels) looking forward. Summer and winter weather and the huge gas storage deficit are sources of significant market risk.
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Read the full story at http://www.prweb.com/releases/2014/06/prweb11935860.htm
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