16 May 2024
Pricewatch | 27 Oct 2020 | Gas Matters Today
Publication date: 27 October 2020
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Crude oil prices fell to a three-week low on Monday amid rising COVID-19 cases in Europe and the US, with both Brent and WTI settling ~3% lower to start the week. The front-month WTI price closed at USD 38.56/barrel, with Bent closing at USD 40.46/barrel.
European gas hubs mirrored crude benchmarks, with NBP and TTF both falling by over 3% to settle at the equivalent of USD 5.50/MMBtu and USD 5.15/MMBtu respectively. The Asian LNG spot price marker JKM also posted a marginal loss of 0.7% to settle at USD 7.20/MMBtu.
US gas benchmark Henry Hub stopped the rot to return to the USD 3/MMBtu range after three consecutive days of losses.
The European carbon price could not build on Friday’s recovery, as month-ahead ETS allowance (EUA) futures fell 6.4% to close at EUR 23.85/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.