5 May 2024
Pricewatch | 9 Dec 2020 | Gas Matters Today
Publication date: 09 December 2020
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The indicative Asian LNG spot price rose to an almost year-long high on Tuesday, as CME’s front-month JKM futures contract gained 1.3% to close at USD 7.70/MMBtu – the prompt contract’s highest closing price since 28 January 2020. Amid strong winter buying on expectations of a hard northern hemisphere winter, the January-dated contract has gained 23% in the last three weeks, and the February-dated contract is now trading at USD 8/MMBtu – a price not seen in almost two years.
Other energy and carbon commodity price movements were muted across the board on Tuesday. Brent and WTI diverged slightly in the session, while US, UK and continental European gas hubs were all virtually unchanged, as was the European carbon price.
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.