25 April 2024
Pricewatch | 14 Aug 2020 | Gas Matters Today
Publication date: 14 August 2020
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Brent crude dipped below USD 45/barrel yesterday after the International Energy Agency (IEA) and OPEC both downgraded respective outlooks for global oil demand – even though the Energy Information Administration (EIA) said it sees the US producing less oil than previously forecast this year and next.
Brent and WTI both fell 1% to USD 44.96/barrel and USD 42.24/barrel, respectively, putting them almost back to where they were at the start of the week. Brent and WTI were both down by less than 1% in intra-day trades on Friday.
US and European gas hubs returned to muted growth on Thursday. UK NBP gained 0.8% to close at USD 2.66/MMBtu and Dutch TTF rose 2% to USD 2.53MMBtu, while Henry Hub gained 1.4% to USD 2.18/MMBtu. CME’s JKM futures registered more marginal gains.
The European carbon price lost more ground, as the month-ahead futures contract for ETS carbon allowances (EUAs) fell another 2.1% to close at EUR 25.38/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.