US and European gas hubs converged on Friday, as UK NBP rose 3.3% to USD 1.68/MMBtu, Dutch TTF rose 1.1% to USD 1.71/MMBtu and Henry Hub was virtually unchanged at USD 1.72/MMBtu. CME’s JKM futures were also unchanged at USD 2.16/MMBtu.
Crude oil prices were also relatively static on Friday, as Brent dropped 0.5% to USD 43.14/barrel and US benchmark WTI fell 10.4 to USD 40.59/barrel.
The European carbon price sell-off ended on Friday, as the month-ahead futures contract for ETS carbon allowances (EUAs) gained 4.6% to close at EUR 27.74/tonne and recover some of Thursday’s losses.
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.