29 April 2024
Pricewatch | 19 Aug 2020 | Gas Matters Today
Publication date: 19 August 2020
Gas Strategies Group
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Month-ahead gas in UK and Europe is now more expensive than in Asia or the US Gulf Coast, after UK NBP and Dutch TTF both gained ~4.5% on Tuesday to close at the equivalent of USD 3.11/MMBtu and USD 2.99/MMBtu, respectively. CME’s JKM futures contract was unchanged at USD 2.90/MMBtu and Henry Hub gained 3.3% to USD 2.42/MMBtu.
NBP has not closed above the USD 3/MMBtu level since 31 January 2020. The TTF price is the highest since 15 March 2020.
Crude oil prices were stable in the session. Brent gained 0.2% to USD 45.46/barrel and WTI was unchanged.
The European carbon price gained marginally, as the month-ahead futures contract for ETS carbon allowances (EUAs) rose 1% to close at EUR 26.51/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.