Pricewatch | 11 Apr 2022 | Gas Matters Today

European gas prices fell for a sixth straight day on Friday, with the drop due to stable pipeline flows from Russia and Norway, and warmer weather.

The front-month TTF and NBP contracts fell by 0.9% and 2.3% respectively on Friday, with the former closing at the equivalent of USD 33.11/MMBtu. The UK marker settled at the equivalent of USD 29.78/MMBtu – its lowest close since 21 March.

Across the pond, US gas benchmark Henry Hub recorded a 1.3% loss to close at USD 6.28/MMBtu.

As for Asian LNG marker JKM, the front-month contract closed 1.5% higher at USD 33.61/MMBtu.

Oil prices ended the week on a high after falling for three consecutive days. Brent and WTI closed over 2% higher on Friday, with the former settling at USD 102.78/barrel and the US crude benchmark settling at USD 98.26/barrel.

However, crude prices were sliding once again on Monday morning amid demand concerns due to China’s Covid lockdowns.

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.