26
Apr
2021

Pricewatch | 26 Apr 2021 | Gas Matters Today

Only Subscribers can read the full Article

European gas prices slumped on Friday, with warmer weather and technical selling driving the decline.

The front-month TTF and NBP contracts fell from a three-month high on Thursday to settle 6.2% and 5.8% lower respectively on Friday. Forecasts of warmer weather and technical selling were the reasons for the fall, with TTF and NBP settling at the equivalent of USD 7.07/MMBtu.

The European carbon price fell from a record high on Thursday, with slumping gas prices partly behind the fall. The carbon price settled 0.3% lower at EUR 46.86/tonne on Friday.

As for JKM, the Asian LNG marker fell by 4.1% to settle at USD 8.2/MMBtu to end the week.

In the US, Henry Hub remained in the USD 2.7/MMBtu range despite falling by 0.7% on Friday.

Crude prices continued to rally, with the front-month Brent and WTI contracts recording gains of over 1%. The rally was prompted by hopes of a recovery in crude demand in the US and Europe amid stronger-than-expected manufacturing data from both regions.   

The gains saw the front-month Brent contract push into the USD 66/barrel range and WTI return to the USD 62/barrel range.

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.