11 May 2024
Pricewatch | 07 Nov 2022 | Gas Matters Today
Publication date: 07 November 2022
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US natural gas benchmark Henry Hub closed out last week at a two-week high, with Friday’s rally prompted by forecasts showing colder weather across the north-east of the US in the coming weeks.
The Henry Hub front-month contract closed 7.1% higher on Friday at USD 6.4/MMBtu, marking its highest close since 14 October.
Across the pond, European gas prices continued to dip amid mild, windy weather – helping keep a lid on gas demand and withdrawals from brimming gas inventories.
Asian LNG marker JKM stopped the rot, closing 4% higher at USD 28.93/MMBtu.
As for crude, Brent and WTI recording strong gains amid a weaker US dollar and supply concerns due to the EU’s impending embargo on Russian oil.
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.