Pricewatch | 16 Oct 2020 | Gas Matters Today

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.