US and European gas hubs fell in tandem on Monday, as US gas benchmark Henry Hub lost 3.8% to close at USD 2.15/MMBtu, UK NBP fell 4.2% to USD 2.73/MMBtu and Dutch TTF fell 4.3% to USD 2.61/MMBtu. But CME’s JKM futures gained 2% to hit USD 2.84/MMBtu, widening the ‘Asian premium’ to both Europe and the US Gulf coast.
Crude oil prices returned to growth on Monday, with Brent rising 1.3% and WTI gaining 1.7% to settle at USD 44.99/barrel and USD 41.94/barrel, respectively. Both were trading up by around 1% on Tuesday morning.
The European carbon price made modest gains, as the month-ahead futures contract for ETS carbon allowances (EUAs) gained 1.1% to close at EUR 26.66/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.