Pricewatch | 16 Nov 2021 | Gas Matters Today

Only Subscribers can read the full Article

European gas prices recorded strong gains on Monday after Gazprom opted against booking additional capacity via Ukraine for December. The strengthening gas prices in turn helped propel the European carbon price to a fresh record high.

The front-month TTF and NBP contracts closed over 5% higher day-on-day to start the week. The UK gas benchmark settled at the equivalent of USD 27.52/MMBtu, USD 0.77/MMBtu higher than the Dutch marker.

The rally was pinned on the latest capacity auction results and expectations of colder weather across much of Europe.

The strengthening gas prices helped push the European carbon price to a record high of EUR 65.92/tonne.

Across the pond, US gas benchmark rebounded on Monday, closing 4.7% higher at USD 5.02/MMBtu. A drop in gas production and robust LNG exports helped lift Henry Hub on Monday.

As for Asian LNG marker JKM, the front-month contract closed 0.1% higher at USD 31.61/MMBtu.

Oil prices diverged on Monday however prices were largely unchanged. Brent closed 0.1% lower at USD 82.05/barrel, with WTI up 0.1% at USD 80.88/barrel.

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.

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.