US gas benchmark Henry Hub rebounded yesterday on encouraging storage data and rising feed gas flows to US LNG export plants, with the front month contract gaining 5.3% to close at USD 2.78/MMBtu. The gains partially offset steep losses in the previous two sessions, and came despite ongoing restoration of production from shut-in wells in the Gulf of Mexico post-hurricane Delta.
European hubs added to recent gains on Thursday, with NBP and TTF again both rising more than 2% to settle at the equivalent of USD 5.17/MMBtu and USD 4.88/MMBtu, respectively. CME’s November-dated JKM futures was again unchanged at USD 5.15/MMBtu.
Crude oil prices softened marginally in the session. The European carbon price returned to loss, as month-ahead ETS allowance (EUA) futures gained 2.1% to close the session at EUR 24.96/tonne – its first foray below EUR 25/tonne since 27 July this year.
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.