Natural Gas Intel: Small Rebound for NatGas Futures as Weather Models Trend Colder; Cash Slides as Temperatures Warm

14 February 2020:

The unusually mild winter in Asia and Europe has left gas inventories near record levels for this time of year, calling into question where diverted cargoes could go. Both Total SA and Royal Dutch Shell plc rejected force majeure declarations by China National Offshore Oil Corp. (CNOOC) last week, but Total reportedly agreed to divert other cargoes in return for CNOOC taking in a cargo at the Tianjin terminal in China. Some other Chinese buyers were aiming to delay or divert cargoes set to arrive through April, rather than declare force majeure, according to ship brokerage Poten & Partners.

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