24 April 2024
Pricewatch | 2 Jun 2020 | Gas Matters Today
Publication date: 02 June 2020
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Brent crude recovered its premium over US WTI on Monday. July-dated Brent soared 8.5% to close at USD 38.32/barrel, a new three-month high, while WTI fell 0.1%, flipping the spread back into positive territory at USD 2.88/barrel. Both contracts were trading up by around 1% on Tuesday morning.
Natural gas prices fell on both sides of the Atlantic on Monday, with European hubs NBP and TTF outpacing Henry Hub’s decline. July-dated NBP fell 8.7% to settle at the equivalent of USD 1.10/MMBtu and TTF fell 7.6% to USD 1.32/MMBtu, while Henry Hub fell 4.1% to USD 1.77/MMBtu, which marginally increased the ‘American premium’ for natural gas. CME’s JKM futures fell 3.1% to settle back at USD 2/MMBtu.
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.