26 April 2024
Pricewatch | 10 Jul 2020 | Gas Matters Today
Publication date: 10 July 2020
Gas Strategies Group
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Crude prices crashed on Thursday, with the front-month WTI price falling below USD 40/barrel for the first time since 1 July on concerns over surging Covid-19 cases in the US. Brent crude fell by 2.2% to hit USD 42.35/barrel.
Natural gas prices on both sides of the Atlantic continued to slide, with the front-month UK NBP price showing the largest percentage decline of 3.5% to close at USD 1.83/MMBtu. The Dutch TTF price closed 3.3% lower with US benchmark Henry Hub down 2.5%.
In comparison CME’s JKM futures contract fell by only 0.9%, which had the effect of widening the ‘Asian premium’ for gas over both the US and Europe.
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.