Crude prices continued to rally on Wednesday amid expectations of a major stimulus package to help the US recover from the Covid-19 pandemic. The front-month WTI price returned to the USD 53/barrel mark on the day Joe Biden took to office as the 46th US president. As for the month-ahead Brent crude price, it rallied by 0.3% to close in the USD 56/barrel range.
The uptick in European gas prices ended swiftly on Wednesday, with front-month UK NBP and Dutch TTF settling 0.3% and 0.5% lower respectively.
US gas benchmark Henry Hub remained in the red, falling by 0.3% on Wednesday to settle at USD 2.54/MMBtu. CME’s month-ahead JKM futures contract remained unchanged – at USD 18.31/MMBtu – for a four straight day.
The European carbon price also returned to the red, with the price settling 0.5% lower.
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.
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.
Related Stories
-
20Jan2021Pricewatch | 20 Jan 2021 | Gas Matters Today
19Jan2021Pricewatch | 19 Jan 2021 | Gas Matters Today
18Jan2021Pricewatch | 18 Jan 2021 | Gas Matters Today