{"id":2526,"date":"2008-05-23T12:25:20","date_gmt":"2008-05-23T12:25:20","guid":{"rendered":"http:\/\/blogs.thesocialmedia.com\/leblogenergie\/2008\/05\/23\/la-comparaison-2\/"},"modified":"2012-07-12T10:40:22","modified_gmt":"2012-07-12T10:40:22","slug":"la-comparaison-2","status":"publish","type":"post","link":"https:\/\/blogs.thesocialmedia.com\/leblogenergie\/2008\/05\/23\/la-comparaison-2\/","title":{"rendered":"La comparaison des cours du gaz \u00e0 ceux du p\u00e9trole met en lumi\u00e8re le caract\u00e8re financier de la hausse des cours"},"content":{"rendered":"<p>&nbsp; &nbsp;&nbsp; &nbsp;&nbsp; &nbsp;&nbsp; &nbsp;&nbsp; &nbsp;&nbsp; &nbsp;&nbsp; &nbsp;&nbsp; &nbsp;<strong><span style=\"font-size: 1.4em\">L<\/span><\/strong>es cours du gaz naturel am\u00e9ricain de r\u00e9f\u00e9rence \u00e9chang\u00e9 au Henry Hub ont eu en 2007, un parcours tout \u00e0 fait classique (FIG.I) qui a suivi les variations du climat am\u00e9ricain. Vers les 8 dollars au mois de F\u00e9vrier avec l&rsquo;arriv\u00e9e de la vague de froid, au plus bas \u00e0 la fin de l\u00e9t\u00e9 vers les 5$, puis remontant avec l&rsquo;arriv\u00e9e de l&rsquo;hiver 2007-2008. Mais pendant ce temps, durant 2007, les cours du p\u00e9trole sont pass\u00e9s de 50$\/baril \u00e0 pr\u00e8s de 100$\/baril. La cons\u00e9quence de ce d\u00e9couplage des cours du gaz naturel avec ceux du p\u00e9trole a \u00e9t\u00e9 une baisse du ratio des cours du gaz rapport\u00e9s \u00e0 ceux du p\u00e9trole (FIG.II) qui est pass\u00e9 de 0,82 au plus bas des cours du brut \u00e0 0,42 au mois de Septembre.<a href=\"http:\/\/blogs.thesocialmedia.com\/leblogenergie\/files\/2012\/07\/gazhenry1.jpg\"><img loading=\"lazy\" decoding=\"async\" height=\"297\" alt=\"Gazhenry\" src=\"http:\/\/blogs.thesocialmedia.com\/leblogenergie\/files\/2012\/07\/gazhenry.jpg\" width=\"480\"  \/><\/a> <\/p>\n<p>&nbsp; &nbsp;&nbsp; &nbsp;&nbsp; &nbsp;&nbsp; &nbsp;&nbsp; &nbsp;&nbsp; &nbsp;&nbsp; &nbsp; L&rsquo;ann\u00e9e 2008 s&rsquo;annonce pour les cours du gaz de fa\u00e7on totalement diff\u00e9rente. Bien qu&rsquo;il n&rsquo;y ait aucune p\u00e9nurie, aucune tension physique sur les approvisionnements de gaz, bien que les stocks aux USA aient repris leur ascension depuis 6 semaines de fa\u00e7on habituelle, les cours du gaz naturel au Henry Hub sont irr\u00e9sistiblement li\u00e9s \u00e0 ceux du p\u00e9trole avec un ratio autour de 0,54 (FIG.II). Ces cours sont ainsi pass\u00e9s de 7$ en d\u00e9but 2008 \u00e0 11.7 $ cette semaine soit une hausse proche des 70%.<a href=\"http:\/\/blogs.thesocialmedia.com\/leblogenergie\/files\/2012\/07\/gazpetrole1.jpg\"><img loading=\"lazy\" decoding=\"async\" height=\"292\" alt=\"Gazpetrole\" src=\"http:\/\/blogs.thesocialmedia.com\/leblogenergie\/files\/2012\/07\/gazpetrole.jpg\" width=\"480\"  \/><\/a><\/p>\n<p>&nbsp; &nbsp;&nbsp; &nbsp;&nbsp; &nbsp;&nbsp; &nbsp;&nbsp; &nbsp;&nbsp; &nbsp;Cette liaison \u00e9troite entre cours du gaz et cours du p\u00e9trole montre le caract\u00e8re financier de cette hausse des prix. Il y a du gaz disponible, le march\u00e9 en consomme peu, l&rsquo;exc\u00e9dent de production est mis en stock pour l&rsquo;hiver prochain et les prix montent inexorablement.<a href=\"http:\/\/blogs.thesocialmedia.com\/leblogenergie\/files\/2012\/07\/gazstocks1.jpg\"><img loading=\"lazy\" decoding=\"async\" height=\"332\" alt=\"Gazstocks\" src=\"http:\/\/blogs.thesocialmedia.com\/leblogenergie\/files\/2012\/07\/gazstocks.jpg\" width=\"480\"  \/><\/a> <\/p>\n<p>&nbsp; &nbsp;&nbsp; &nbsp;&nbsp; &nbsp;&nbsp; &nbsp;&nbsp; &nbsp; Il y a dans ce ph\u00e9nom\u00e8ne, soyez en s\u00fbrs, l&rsquo;amorce d&rsquo;un retournement brusque comme seuls les cours du gaz naturel am\u00e9ricain savent les r\u00e9aliser. Les am\u00e9ricains placent leurs \u00e9conomies dans le p\u00e9trole, le gaz et le charbon. L&rsquo;amorce du retournement viendra des cours du gaz naturel qui sont les moins justifi\u00e9s et dont les fonds se m\u00e9fient en raison du caract\u00e8re volatil des cours.<\/p>\n<p>&nbsp; &nbsp;&nbsp; &nbsp;&nbsp; &nbsp;&nbsp; &nbsp;&nbsp; &nbsp;&nbsp; &nbsp;&nbsp; &nbsp;&nbsp; &nbsp;&nbsp; En conclusion, si vous avez investi vos \u00e9conomies dans l&rsquo;\u00e9nergie, surveillez bien les cours du gaz, ce sont eux qui sonneront la fin de la r\u00e9cr\u00e9ation.<\/p>\n<p>Le 23 Mai 2008<\/p>\n<p>&#8211; <\/p>\n","protected":false},"excerpt":{"rendered":"<p>&nbsp; &nbsp;&nbsp; &nbsp;&nbsp; &nbsp;&nbsp; &nbsp;&nbsp; &nbsp;&nbsp; &nbsp;&nbsp; &nbsp;&nbsp; &nbsp;Les cours du gaz naturel am\u00e9ricain de r\u00e9f\u00e9rence \u00e9chang\u00e9 au Henry Hub ont eu en 2007, un parcours tout \u00e0 fait classique (FIG.I) qui a suivi les variations du climat am\u00e9ricain. Vers les 8 dollars au mois de F\u00e9vrier avec l&rsquo;arriv\u00e9e de la vague de froid, au [&hellip;]<\/p>\n","protected":false},"author":341,"featured_media":8932,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-2526","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energie-fossile"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>La comparaison des cours du gaz \u00e0 ceux du p\u00e9trole met en lumi\u00e8re le caract\u00e8re financier de la hausse des cours - leblogenergie.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/blogs.thesocialmedia.com\/leblogenergie\/2008\/05\/23\/la-comparaison-2\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"La comparaison des cours du gaz \u00e0 ceux du p\u00e9trole met en lumi\u00e8re le caract\u00e8re financier de la hausse des cours - leblogenergie.com\" \/>\n<meta name=\"twitter:description\" content=\"&nbsp; &nbsp;&nbsp; &nbsp;&nbsp; &nbsp;&nbsp; &nbsp;&nbsp; &nbsp;&nbsp; &nbsp;&nbsp; &nbsp;&nbsp; &nbsp;Les cours du gaz naturel am\u00e9ricain de r\u00e9f\u00e9rence \u00e9chang\u00e9 au Henry Hub ont eu en 2007, un parcours tout \u00e0 fait classique (FIG.I) qui a suivi les variations du climat am\u00e9ricain. 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