Crude oil prices fell to a three-week low on Monday amid rising COVID-19 cases in Europe and the US, with both Brent and WTI settling ~3% lower to start the week. The front-month WTI price closed at USD 38.56/barrel, with Bent closing at USD 40.46/barrel.
European gas hubs mirrored crude benchmarks, with NBP and TTF both falling by over 3% to settle at the equivalent of USD 5.50/MMBtu and USD 5.15/MMBtu respectively. The Asian LNG spot price marker JKM also posted a marginal loss of 0.7% to settle at USD 7.20/MMBtu.
US gas benchmark Henry Hub stopped the rot to return to the USD 3/MMBtu range after three consecutive days of losses.
The European carbon price could not build on Friday’s recovery, as month-ahead ETS allowance (EUA) futures fell 6.4% to close at EUR 23.85/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.
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
-
26Oct2020Pricewatch | 26 Oct 2020 | Gas Matters Today
23Oct2020Pricewatch | 23 Oct 2020 | Gas Matters Today
22Oct2020Pricewatch | 22 Oct 2020 | Gas Matters Today