19
Nov
2021

Pricewatch | 19 Nov 2021 | Gas Matters Today

Only Subscribers can read the full Article

The European carbon price hit a fresh record high on Thursday, aided by strengthening gas prices.

The December-dated EUA contract closed 2.9% higher at EUR 69.10/tonne. The carbon price was supported by strengthening gas prices.

The front-month TTF and NBP contracts closed 0.5% and 0.4% higher respectively on Thursday. NBP settled at the equivalent of USD 32.34/MMBtu, with TTF closing at USD 31.68/MMBtu.

Asian LNG marker JKM increased its premium over the European gas benchmarks as the front-month contract rolled over to January. JKM closed at USD 37.57/MMBtu, 18.8% higher compared to the final day of trading of the December-dated contract. Compared to the close of the January contract on Wednesday, the marker closed 0.75% higher on Thursday.

In the US, Henry Hub bounced back and edged closer to USD 5/MMBtu after settling 1.8% higher at USD 4.90/MMBtu. A dip in production, coupled with robust US LNG exports helped lift Henry Hub on Thursday. 

Oil prices rebounded, with Brent up 1.2% and WTI posting a 0.1% gain. Rising Covid-19 cases in Europe could weigh on prices in the short-term, with Austria announcing on Friday that it will impose a nationwide lockdown starting on 22 November.

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.

Subscription Benefits

Our three titles – LNG Business Review, Gas Matters and Gas Matters Today – tackle the biggest questions on global developments and major industry trends through a mixture of news, profiles and analysis.

LNG Business Review

LNG Business Review seeks to discover new truths about today’s LNG industry. It strives to widen market players’ scope of reference by actively engaging with events, offering new perspectives while challenging existing ones, and never shying away from being a platform for debate.

Gas Matters

Gas Matters digs deep into the stories of today, keeping the challenges of tomorrow in its sights. Weekly features and interviews, informed by unrivalled in-house expertise, offer a fresh perspective on events as well as thoughtful, intelligent analysis that dares to challenge the status quo.

Gas Matters Today

Gas Matters Today cuts through the bluster of online news and views to offer trustworthy, informed perspectives on major events shaping the gas and LNG industries. This daily news service provides unparalleled insight by drawing on the collective knowledge of in-house reporters, specialist contributors and extensive archive to go beyond the headlines, making it essential reading for gas industry professionals.

Did you know that your Internet Explorer Browser is out of date?

Your MS Internet Explorer browser is out of date, and will not be fully compatible with our website. For best browsing experience we recommend that you upgrade your IE browser to a more recent version or use an alternative, more recent browser.