26 April 2024
Pricewatch | 7 Oct 2020 | Gas Matters Today
Publication date: 07 October 2020
Gas Strategies Group
10 Saint Bride Street
London UK
EC4A 4AD
ISSN: 0964-8496
Twitter @GasStrategies
Editorials
Subscriptions
Crude oil prices continued rising on Tuesday on strengthened hopes of a fresh US economic stimulus package being agreed by lawmakers, but those hopes were dashed early on Wednesday morning. Brent closed yesterday up 3.3% at USD 42.65/barrel but opened today’s session down 1.7% after US president Donald Trump said he was ending talks with Democratic leaders in Congress until after November’s presidential election. WTI followed a similar pattern, yesterday rising 3.7% to USD 40.67/barrel before dipping more than 2% below the USD 40 threshold this morning.
US gas benchmark Henry Hub failed to hold onto yesterday’s gains, with the front month contract falling 3.9% to USD 2.51/MMBtu. European hubs NBP and TTF fell 1% and 0.8% to close at the equivalent of USD 4.82/MMBtu and USD 4.59/MMBtu, respectively. CME’s November-dated JKM futures contract was unchanged at USD 5.05/MMBtu.
The European carbon price again softened marginally in yesterday’s session, as month-ahead ETS allowance (EUA) futures fell 0.5% to close at EUR 26.78/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.