17 June 2024
Pricewatch | 27 Nov 2020 | Gas Matters Today
Publication date: 27 November 2020
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The vaccine-fuelled crude rally paused for breath yesterday, as oil trading shallowed due to the Thanksgiving holiday and doubts over the near-term demand outlook finally caught up with the prolonged exuberance over the potential for a Sars-Cov-2 vaccine easing pandemic travel restrictions. Brent and WTI both fell 1.7% on Thursday to close at USD 47.80/barrel and USD 44.93/barrel, respectively. Brent was trading up marginally early on Friday but WTI opened around 1% lower.
European gas hubs NBP and TTF diverged marginally in yesterday’s session, while the European carbon price rose 1.7% to EUR 28.10/tonne. CME’s Henry Hub, JKM and API2 futures contracts did not trade due to the US festive holiday.
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.