The front-month Brent crude price settled at its highest level since 6 March on Tuesday, after gaining 2.4% to hit USD 44.32/barrel. US benchmark WTI followed suit, gaining 2.7% to settle above USD 41/barrel for the first time since 15 July. The gains were attributed to signs of an economic recovery from the Covid-19 pandemic, with the European Union announcing a major stimulus package.
Natural gas prices on both sides of the Atlantic recovered on Tuesday, with UK NBP showing the largest day-on-day percentage gain of 4.5% to settle at USD 1.62/MMBtu. Dutch TTF closed 1.7% higher with US benchmark Henry Hub increasing by 2.1%.
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.