29 April 2024
Pricewatch | 21 Sep 2020 | Gas Matters Today
Publication date: 21 September 2020
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European gas hubs NBP and TTF both hit a two-week high on Friday, after the European Commission set out ambitions for deeper EU 2030 emissions cuts that are expected to bolster the bloc’s gas demand this decade. October-dated NBP gained 4.2% to close at the equivalent of USD 3.93/MMBtu and TTF rose 3.2% to USD 3.99/MMBtu.
CME’s November-dated JKM futures contract became the front month on Friday. The contract was unchanged in the session at USD 4.85/MMBtu, which represents a 12.5% premium on the expiring October contract. US natural gas benchmark Henry Hub rose 0.3% to USD 2.05/MMBtu.
Crude oil prices were fairly stable, with Brent dipping by 0.3% to USD 43.15/barrel and WTI gaining 0.3% to USD 41.11/barrel. Both gained around 9% over the course of the week.
The European carbon price tapered its losses on Friday, as month-ahead ETS allowance (EUA) futures lost 1.5% to close at EUR 27.97/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.