27 April 2024
Pricewatch | 11 Nov 2020 | Gas Matters Today
Publication date: 11 November 2020
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The prolonged euphoria over Pfizer’s promising Sars-Cov-2 vaccine buoyed markets into Tuesday, with Brent and WTI gaining another 2.9% and 2.7% to close at USD 43.61/barrel and USD 41.36/barrel, respectively. Optimistic sentiment appeared to continue into Wednesday, as both benchmarks opened today’s session more than 3% higher.
The European carbon price could not sustain its gains, however, as month-ahead ETS allowance (EUA) futures fell 1.2% to close at EUR 26.23/tonne.
US gas benchmark Henry Hub’s front month contract leapt back into life, rising 3.1% to close the session at USD 2.95/MMBtu, while European gas hubs UK NBP and Dutch TTF diverged in yesterday’s session. CME’s December-dated JKM futures contract was again unchanged at USD 6.91/MMBtu.
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.