10
Sep
2020

Pricewatch | 10 Sep 2020 | Gas Matters Today

Only Subscribers can read the full Article

Oil prices staged a recovery on Wednesday after stumbling to three-month lows on Tuesday. The front-month Brent price closed 2.5% higher to settle at USD 40.79/barrel, with WTI settling 3.5% higher to close at USD 38.05/barrel. The rally was muted by the US Energy Information Administration (EIA) once again lowering its oil demand growth projections for 2020 in its latest short term outlook, with rising Covid-19 cases globally also weighed on the price increase.

US natural gas benchmark Henry Hub stopped the rot, closing 0.3% higher. European gas hub TTF continued to slide, with the October-dated contract closing 0.2% lower. The UK NBP front-month contract recorded a marginal gain of 0.2%. CME’s JKM futures contract could not sustain gains from Tuesday, with the marker closing 1.6% lower.

The European carbon price rallied, with the month-ahead futures contract for ETS carbon allowances (EUAs) closing 1.5% higher to settle at EUR 27.19/tonne.

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 reserved.

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.

Did you know that your Internet Explorer Browser is out of date?

Your MS Internet Explorer browser is out of date, and will not be fully compatible with our website. For best browsing experience we recommend that you upgrade your IE browser to a more recent version or use an alternative, more recent browser.