16 June 2024
Pricewatch | 27 Jan 2021 | Gas Matters Today
Publication date: 27 January 2021
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European gas prices continued to slide on Tuesday, with the front-month Dutch TTF price settling in the USD 6/MMBtu range for the first time since 18 January and the month-ahead UK NBP price settling 3.9% lower. Expectations of warmer weather across Europe and an improving supply outlook were to blame for the slump.
US natural gas benchmark Henry Hub continued to climb, settling 2.1% higher to close at USD 2.66/MMBtu. CME’s JKM futures contract fell for a second day, closing 0.6% lower amid forecasts of warmer weather and improving LNG supply to Asia.
Crude prices showed mix results, with the front-month Brent contract closing 0.1% higher, remaining in the USD 55/barrel range. The month-ahead WTI contract closed 0.3% lower, remaining in the USD 52/barrel range.
The European carbon price closed 0.6% higher to settle at EUR 33.28/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.