4 May 2024
Pricewatch | 23 Oct 2020 | Gas Matters Today
Publication date: 23 October 2020
Gas Strategies Group
10 Saint Bride Street
London UK
EC4A 4AD
ISSN: 0964-8496
Twitter @GasStrategies
Editorials
Subscriptions
The indicative Asian LNG spot price continued its winter rally yesterday, with CME’s December-dated JKM futures contract gaining 2.2% to close at USD 6.88/MMBtu. This price is a 12-month high for the front-month contract and means JKM has now already matched the peak price achieved in the 2018-19 northern hemisphere winter.
US gas benchmark Henry Hub yesterday softened marginally but stayed above the USD 3/MMBtu threshold. European gas hubs NBP and TTF made strong gains of 2.6% and 3.8%, respectively, closing at the equivalent of USD 5.29/MMBtu and USD 5.66/MMBtu.
Crude oil prices recovered some of Wednesday’s losses, with Brent rising 1.7% to USD 42.46/barrel and WTI gaining 1.5% to hit USD 40.64/barrel. Both were trading up by around 0.5% on Friday morning.
The European carbon price stopped the rot on Thursday, as month-ahead ETS allowance (EUA) futures gained 2.6% to close at EUR 24.18/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.