20 May 2024
Pricewatch | 10 Jun 2020 | Gas Matters Today
Publication date: 10 June 2020
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Cratering European gas prices reopened the ‘American premium’ for natural gas on Tuesday, as front-month contracts on UK NBP and Dutch TTF fell by more than 8% to settle at the equivalent of USD 1.48/MMBtu and USD 1.60/MMBtu, respectively. These losses again outpaced the softening of US gas benchmark Henry Hub, which fell 1.2% to USD 1.77/MMBtu. The ‘Asian premium’ over both US and EU benchmarks also widened slightly, as CME’s JKM futures lost only one cent to close at USD 2.06/MMBtu.
Crude oil prices steadied in Tuesday’s session, with month-ahead Brent gaining 0.9% to USD 41.18/barrel and WTI rising 2% to USD 38.94/barrel. The European carbon price fell 1% to EUR 22.42/tonne, while the API2 price of coal in Rotterdam fell 1.1% to the equivalent of USD 1.81/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.