The world’s major oil, gas, coal and carbon price benchmarks were all in the red on Thursday. Reacting belatedly to OPEC’s Wednesday warning of growing Covid-19 risks to demand recovery and similar comments from the US Federal Reserve, Brent crude fell 1% to USD 44.90/barrel and WTI dropped 0.3% to USD 42.82/barrel in yesterday’s session.
CME’s JKM futures contract for October – now the front month – fell 4% to USD 3.93/MMBtu, outpacing falls in Henry Hub (-3.1%) and European hubs TTF (-2.4%) and NBP (-1.8%). The API2 coal price fell 0.7% to the equivalent of USD 1.95/MMBtu, and the European carbon price lost 1.2%, with the month-ahead futures contract for ETS carbon allowances (EUAs) closing at EUR 25.88/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.
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