30 April 2024
Pricewatch | 3 Jul 2020 | Gas Matters Today
Publication date: 03 July 2020
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Crude oil prices bounced on encouraging US job statistics on Thursday, as global benchmark Brent rose 2.6% to USD 43.14/barrel and US benchmark WTI gained 2.1% to close at USD 40.65/barrel. But both benchmarks were trading down by around 1.4% on Friday morning as US Covid-19 infections rose to record levels, raising fears of potential fresh travel restrictions hurting demand recovery.
UK and European natural gas hubs diverged on Thursday, as front-month NBP lost 2.2% to hit the equivalent of USD 1.92/MMBtu and Dutch TTF gained 1.4% to close at USD 1.96/MMBtu. US benchmark Henry Hub also rose 3.8% to close at USD 1.73/MMBtu, while CME’s JKM were unchanged.
The European carbon price ended a three-day rally, with ETS allowances (EUAs) losing 1.2% yesterday to close at EUR 27.31/tonne. Month-ahead EUA futures are still up by around 44% since late March.
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.