Crude prices continued to climb on Wednesday, with Brent settling in the USD 51/barrel range for the first time since early March. WTI made it three consecutive days of gains after closing 0.4% higher to hit USD 47.82/barrel.
Gas, coal and the European carbon price failed to match crude, with all returning to the red.
The European carbon price fell by 1.2% to close at EUR 31.63/tonne after hitting an all-time high on Tuesday. European gas futures also crashed, with month-ahead UK NBP and Dutch TTF falling by 4.4% and 4.8% to close at the equivalent of USD 6.37/MMBtu and USD 5.85/MMBtu, respectively. On the other side of the Atlantic, US gas benchmark Henry Hub recorded a marginal loss of 0.2%.
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.
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