Crude oil prices softened on Thursday on gloomy economic data from the US and France, pushing Brent and US benchmark WTI down by 1.9% and 3.3.% to USD 42.94/barrel and USD 39.92/barrel, respectively. Oil prices appeared to be adjusting on Friday, with WTI trading above USD 40/barrel when markets opened.
UK and continental European gas hubs diverged slightly yesterday, as the front-month contract on UK NBP fell 1.9% to USD 1.75/MMBtu and Dutch TTF rose 0.9% to USD 1.81/MMBtu. Henry Hub fell 1.3% to USD 1.83/MMBtu, while CME’s JKM futures fell 1.7% to USD 2.62/MMBtu.
The European carbon price was also in the red yesterday, as the month-ahead futures contract for ETS carbon allowances (EUAs) fell 2.4% to close at EUR 25.49/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.