26 June 2024
Pricewatch | 25 Nov 2020 | Gas Matters Today
Publication date: 25 November 2020
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Energy commodities accelerated their gains across the board on Tuesday as vaccine optimism flooded markets. Brent crude gained 3.9% to hit USD 47.86/barrel and WTI rose 4.3% to USD 44.91/barrel, while natural gas hubs made further notable gains on both sides of the Atlantic.
US benchmark Henry Hub gained 2.4% to close the session at USD 2.78/MMBtu, while UK NBP and Dutch TTF both rose by around 2.8% to hit the equivalent of USD 5.21/MMBtu and USD 4.84/MMBtu. The indicative Asian LNG price leapt too, as CME’s January-dated JKM contract rose 3% to USD 6.75/MMBtu.
The European carbon price was also buoyant on sustained industrial activity, as month-ahead ETS allowance (EUA) futures rose 1.4% to close yesterday’s session at EUR 27.63/tonne.
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.