European gas prices slid on the final day of trading last week, with the result seeing TTF’s premium over Asian LNG marker JKM narrow.
The September-dated TTF and NBP contracts closed ~2% lower on Friday, with the former settling at the equivalent of USD 58.51/MMBtu and the UK marker closing at USD 45.05/MMBtu.
The loss, coupled with a minor gain by JKM, saw the TTF-JKM spread narrow to USD 13.85/MMBtu.
In the US, gas benchmark Henry Hub dipped by 0.6% but remained in the USD 8/MMBtu range.
As for crude, prices made a minor recovery on Friday, however Brent and WTI ended the week at their lowest levels since February amid lingering recession fears.
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.
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