Pricewatch | 11 Feb 2022 | Gas Matters Today

US natural gas benchmark Henry Hub continued to fall on Thursday, closing below USD 4/MMBtu for the first time since 21 January.

The March-dated Henry Hub contract fell by 1.2% on Thursday to settle at USD 3.96/MMBtu. Expectations of milder weather has pushed Henry Hub lower this week.

Across the pond, European gas prices diverged on a USD/MMBtu basis, however prices remained largely unchanged. UK gas benchmark NBP recorded a minor loss to settle at the equivalent of USD 24.3/MMBtu, with Dutch marker TTF closing 0.4% higher at USD 25.03/MMBtu.

After heavy losses earlier in the week, the European carbon price recorded a minor gain to close at EUR 90.38/tonne.

Asian LNG marker JKM stopped the rot, closing 0.3% higher at USD 24.8/MMBtu.

Oil prices diverged on Thursday, with Brent down 0.2% at USD 91.41/barrel and WTI up 0.2% at USD 89.88/barrel.

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.