US natural gas benchmark Henry Hub closed out last week at a two-week high, with Friday’s rally prompted by forecasts showing colder weather across the north-east of the US in the coming weeks.
The Henry Hub front-month contract closed 7.1% higher on Friday at USD 6.4/MMBtu, marking its highest close since 14 October.
Across the pond, European gas prices continued to dip amid mild, windy weather – helping keep a lid on gas demand and withdrawals from brimming gas inventories.
Asian LNG marker JKM stopped the rot, closing 4% higher at USD 28.93/MMBtu.
As for crude, Brent and WTI recording strong gains amid a weaker US dollar and supply concerns due to the EU’s impending embargo on Russian oil.
Front-month futures and indexes at last close with day-on-day changes (click to enlarge):
Time references based on London GMT. Brent, WTI, NBP, TTF and EU CO2 data from ICE. Henry Hub, JKM and API2 data from CME. Prices in USD/MMBtu based on exchange rates at last market close. All monetary values rounded to nearest whole cent/penny. Text and graphic copyright © Gas Strategies, all rights.
Subscription Benefits
Our three titles – LNG Business Review, Gas Matters and Gas Matters Today – tackle the biggest questions on global developments and major industry trends through a mixture of news, profiles and analysis.
LNG Business Review
LNG Business Review seeks to discover new truths about today’s LNG industry. It strives to widen market players’ scope of reference by actively engaging with events, offering new perspectives while challenging existing ones, and never shying away from being a platform for debate.
Gas Matters
Gas Matters digs deep into the stories of today, keeping the challenges of tomorrow in its sights. Weekly features and interviews, informed by unrivalled in-house expertise, offer a fresh perspective on events as well as thoughtful, intelligent analysis that dares to challenge the status quo.
Gas Matters Today
Gas Matters Today cuts through the bluster of online news and views to offer trustworthy, informed perspectives on major events shaping the gas and LNG industries. This daily news service provides unparalleled insight by drawing on the collective knowledge of in-house reporters, specialist contributors and extensive archive to go beyond the headlines, making it essential reading for gas industry professionals.
Related Stories
-
04Nov2022Pricewatch | 04 Nov 2022 | Gas Matters Today
03Nov2022Pricewatch | 03 Nov 2022 | Gas Matters Today
02Nov2022Pricewatch | 02 Nov 2022 | Gas Matters Today