[MARKET ANALYSIS] Crude benchmarks reverse earlier gains as Nat Gas continues to pare back recent gains following the Arctic storm panic
Importance
Level 1
- Crude benchmarks initially gained at the start of the Asia-Pac session, following on from Tuesday's bid higher, before paring back gains. As of writing, WTI and Brent are trading near session lows of USD 62.08/bbl and USD 66.14/bbl, respectively, after peaking at USD 63/bbl and USD 67.13/bbl earlier in the session. Newsflow has been light so far, as markets continue to absorb the effects of the Arctic storm.
- With gas output slowly returning as the worst of the Arctic storm passes over, Nat Gas futures continue to pare back the gains made in recent sessions. Henry Hub futures have returned below USD 4/MMBtu, currently at USD 3.63/MMBtu, while Dutch TTF holds below EUR 38/MWh.
#UNITED STATES#USD#EUR#JAPAN#JPY#UNITED KINGDOM#GBP#ASIA#EUROPE#HUB GROUP INC#GEOPOLITICAL#FOREX#ENERGY#METALS#EU SESSION#HIGHLIGHTED#WTI#BRENT#COMMODITIES#NATURAL GAS#GOLD#METALS & MINING#DXY#DUTCH TTF#GAS#MARKET ANALYSIS#MARKET UPDATE