Morning Report: Gas * Power * NGL * Crude * Products * Vols — Apr-18-2023

Apr 18, 2023

  

 

 

 

 

 

 

 

 

 

Prices as of 10:11 AM CST

 

 

 

 

 

 

 

Current Price

Previous Settle

% Change

Change

Volume

 

 

Natural Gas

$2.294

$2.275

0.84%

$0.019

50,428

 

 

WTI

$80.86

$80.83

0.04%

$0.03

46,147

 

 

Brent

$84.70

$84.76

-0.07%

-$0.06

16,942

 

 

ULSD

$2.603

$2.615

-0.45%

-$0.012

11,150

 

 

RBOB

$2.749

$2.774

-0.91%

-$0.025

12,626

 

 

 

 

Spreads

 

 

 

 

 

 

 

Current

Previous

% Change

Change

Contract

 

 

WTI-Brent

$3.80

$3.93

-3.31%

-$0.13

Jun-23

 

 

3:2:1 Crack

$31.14

$31.86

-2.26%

-$0.72

May-23

 

 

PJM West Spark

$31.54

$29.82

5.78%

$1.72

May-23

 

 

 

 

Baker Hughes Rig Count

 

 

 

 

 

 

 

Date

Count

Change

1 Year Chg.

1 Year Date

 

 

U.S.

04/14/23

748

-3

55

04/14/22

 

 

Canada

04/14/23

111

-16

8

04/14/22

 

 

International

Mar

930

15

115

Mar

 

 

 

 

CFTC Net Positions

 

 

 

 

 

 

As of 4/11/2023

Open Interest

Total Net Long

Total Net Short

Diff

 

 

PJM West On Peak

94,918

94,523

94,383

140

 

 

PJM West Off Peak

85,194

84,615

84,689

-74

 

 

Natural Gas Henry Hub

449,252

418,452

434,995

-16,543

 

 

WTI – Light Sweet Crude Futures

133,555

100,022

97,114

2,908

 

 

Brent Crude Last Day

154,842

144,265

149,869

-5,604

 

 

NYM Ethanol

30,780

30,321

30,403

-82

 

 

Mt Belvieu LDH Propane Swap

138,854

137,521

138,468

-947

 

 

RBOB

325,048

298,148

309,645

-11,497

 

 

HSC Basis

562,361

558,837

553,188

5,649

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

EIA Lower 48 Natural Gas Storage

 

 

 

 

04/13/18

 

 

 

4/7/23

3/31/23

Net Change

% Change

4/8/22

% Change

5 Year Avg.

% Change

 

 

East

345

335

10

2.99%

229

50.66%

275

25.45%

 

 

Midwest

427

421

6

1.43%

293

45.73%

335

27.39%

 

 

Mountain

80

80

0

0.00%

90

-11.11%

90

-11.50%

 

 

Pacific

74

73

1

1.37%

169

-56.21%

176

-57.95%

 

 

South

929

921

8

0.87%

617

50.57%

701

32.56%

 

 

    Salt

261

263

-2

-0.76%

186

40.32%

219

19.18%

 

 

    Non_Salt

667

658

9

1.37%

431

54.76%

482

38.44%

 

 

Total

1,855

1,830

25

1.37%

1,397

32.78%

1,577

17.63%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Power Generation Additions/Retirements

 

 

  

 

Front Month Prices

 

 

 

 

 

 

 

 

 

 

 

 

 

Electricity

 

 

 

EOXLive Market Data

 

 

 

Contract

4/17/23

4/14/23

% Change

Change

3/17/23

% Change

4/14/22

% Change

 

 

PJM West On Peak

May-23

$36.46

$34.69

5.10%

$1.77

$38.68

-5.75%

$64.63

-43.59%

 

 

ERCOT North On Peak

May-23

$34.95

$31.88

9.64%

$3.07

$38.08

-8.21%

$55.33

-36.83%

 

 

CAISO SP 15 On Peak

May-23

$36.97

$36.19

2.16%

$0.78

$34.44

7.33%

$32.09

15.21%

 

 

MISO Indiana On Peak

May-23

$39.79

$38.17

4.25%

$1.62

$41.08

-3.14%

$65.68

-39.42%

 

 

NEISO Mass On Peak

May-23

$36.46

$29.85

22.15%

$6.61

$34.62

5.30%

$51.86

-29.71%

 

 

WECC Mid C On Peak

May-23

$75.32

$70.74

6.47%

$4.58

$57.36

31.31%

$33.87

122.38%

 

 

NYISO Zone G On Peak

May-23

$41.72

$33.09

26.08%

$8.63

$34.93

19.44%

$46.05

-9.41%

 

 

 

 

 

Natural Gas & Basis

 

 

 

EOXLive Market Data

 

 

 

Contract

4/17/23

4/14/23

% Change

Change

3/17/23

% Change

4/14/22

% Change

 

 

NYMEX Henry Hub

May-23

$2.275

$2.114

7.62%

$0.16

$2.45

-6.99%

$4.66

-51.22%

 

 

Houston Ship Channel

May-23

-$0.312

-$0.292

6.67%

-$0.02

-$0.30

5.09%

-$0.19

63.21%

 

 

Chicago

May-23

-$0.150

-$0.163

8.65%

$0.01

-$0.07

103.66%

-$0.33

-54.15%

 

 

Waha

May-23

-$1.244

-$1.182

-5.22%

-$0.06

-$1.72

-27.60%

-$1.72

-27.58%

 

 

Algonquin

May-23

-$0.268

-$0.290

7.45%

$0.02

-$0.18

50.65%

-$0.56

-52.46%

 

 

Aeco

May-23

-$0.576

-$0.525

9.79%

-$0.05

-$0.73

-20.65%

-$1.12

-48.31%

 

 

Socal

May-23

$0.818

$0.902

-9.31%

-$0.08

$0.21

294.08%

-$0.51

-259.01%

 

 

 

 

 

Natural Gas Liquids

 

 

 

EOXLive Market Data

 

 

 

Contract

4/17/23

4/14/23

% Change

Change

3/17/23

% Change

4/14/22

% Change

 

 

Mt. Belvieu Propane LST

May-23

$0.819

$0.833

-1.65%

-$0.01

$0.73

12.74%

$1.08

-24.45%

 

 

Mt. Belvieu Propane non LST

May-23

$0.830

$0.835

-0.60%

$0.00

$0.73

13.97%

$1.08

-23.41%

 

 

Mt. Belview Ethane

May-23

$0.202

$0.198

2.11%

$0.00

$0.24

-15.53%

$0.37

-45.13%

 

 

Mt. Belview Nat. Gasoline

May-23

$1.588

$1.614

-1.59%

-$0.03

$1.43

11.02%

$1.97

-19.44%

 

 

Mt. Belvieu Butane LST

May-23

$0.937

$0.956

-2.01%

-$0.02

$0.83

13.57%

$1.19

-21.17%

 

 

Conway Propane

May-23

$0.808

$0.825

-2.12%

-$0.02

$0.70

15.36%

$1.08

-25.46%

 

 

Conway Nat. Gasoline

May-23

$1.594

$1.625

-1.90%

-$0.03

$1.45

10.08%

$1.91

-16.40%

 

 

 

 

Crude Oil

 

 

 

EOXLive Market Data

 

 

 

Contract

4/17/23

4/14/23

% Change

Change

3/17/23

% Change

4/14/22

% Change

 

 

WTI

Jun-23

$80.83

$82.43

-1.98%

-$1.60

$67.12

20.43%

$91.67

-11.83%

 

 

Brent

Jun-23

$84.76

$86.31

-1.83%

-$1.55

$72.77

16.48%

$96.88

-12.51%

 

 

WCS

Jun-23

-$15.10

-$14.40

4.67%

-$0.70

-$15.91

-5.06%

-$14.25

5.99%

 

 

LLS

Jun-23

$83.13

$84.23

-1.33%

-$1.11

$68.95

20.56%

$96.30

-13.68%

 

 

Mars

Jun-23

$79.59

$80.69

-1.38%

-$1.09

$65.60

21.32%

$89.54

-11.12%

 

 

Sour

Jun-23

$80.18

$81.22

-1.30%

-$1.05

$65.17

23.03%

$87.68

-8.55%

 

 

ESPO

Jun-23

$82.79

$84.14

-1.63%

-$1.35

$70.83

16.88%

$97.54

-15.12%

 

 

 

 

Refined Products

 

 

 

EOXLive Market Data

 

 

 

Contract

4/17/23

4/14/23

% Change

Change

3/17/23

% Change

4/14/22

% Change

 

 

NY Heating Oil

May-23

$2.62

$2.66

-1.61%

-$0.04

$2.54

3.15%

$2.87

-8.64%

 

 

NY Gasoline

May-23

$2.78

$2.84

-1.98%

-$0.06

$2.46

13.06%

$2.85

-2.35%

 

 

GC Gasoline

May-23

$2.68

$2.73

-2.05%

-$0.06

$2.36

13.61%

$2.75

-2.44%

 

 

GC Jet

May-23

$2.29

$2.38

-3.49%

-$0.08

$2.37

-3.25%

$2.78

-17.51%

 

 

Chicago Ethanol

May-23

$2.44

$2.45

-0.41%

-$0.01

$2.23

9.64%

$2.56

-4.57%

 

 

Rotterdam Gasoil

May-23

$712.02

$725.33

-1.83%

-$13.31

$697.55

2.07%

$845.44

-15.78%

 

 

Singapore Jet Kero

May-23

$98.71

$99.08

-0.38%

-$0.37

$95.11

3.79%

$111.12

-11.17%

 

 

 

 

Implied Volatilities

 

 

 

EOXLive Market Data

 

 

 

Contract

4/17/23

4/14/23

% Change

Change

3/17/23

% Change

4/14/22

% Change

 

 

Henry Hub Straddle

Jun-23

75.59%

83.43%

-9.40%

-7.84%

88.48%

-14.57%

38.55%

96.08%

 

 

Algonquin Straddle

Jun-23

151.70%

125.61%

20.77%

26.09%

91.53%

65.74%

42.79%

254.52%

 

 

Waha Straddle

Jun-23

255.89%

244.73%

4.56%

11.16%

163.04%

56.95%

64.92%

294.16%

 

 

Chicago Straddle

Jun-23

80.59%

86.96%

-7.33%

-6.37%

91.38%

-11.81%

40.98%

96.66%

 

 

PJM West Straddle

Jun-23

78.08%

77.28%

1.04%

0.80%

72.63%

7.50%

29.49%

164.77%

 

 

SP – 15 Straddle

Jun-23

236.97%

187.83%

26.16%

49.14%

103.55%

128.85%

50.65%

367.86%

 

 

Mid. C Straddle

Jun-23

188.85%

187.92%

0.49%

0.93%

151.29%

24.83%

53.52%

252.86%

 

 

 

 

Euro Gas and Power/LNG

 

 

EOXLive Market Data

 

 

 

Contract

4/17/23

4/14/23

% Change

Change

3/17/23

% Change

4/14/22

% Change

 

 

Dutch TTF

Jun-23

EUR 41.50

EUR 41.51

-0.02%

-EUR 0.01

EUR 44.05

-5.79%

EUR 71.18

-41.70%

 

 

NBP

Jun-23

GBP 100.45

GBP 100.26

0.19%

GBP 0.19

GBP 109.50

-8.26%

GBP 168.25

-40.30%

 

 

German Base

Jun-23

EUR 108.30

EUR 110.10

-1.63%

-EUR 1.80

EUR 117.61

-7.91%

EUR 172.04

-37.05%

 

 

UK Base

Jun-23

GBP 110.09

GBP 106.09

3.77%

GBP 4.00

GBP 116.20

-5.26%

GBP 153.63

-28.34%

 

 

French Base

Jun-23

EUR 114.29

EUR 116.60

-1.98%

-EUR 2.31

EUR 128.81

-11.28%

EUR 158.30

-27.80%

 

 

Italian Base

Jun-23

EUR 139.86

EUR 142.10

-1.58%

-EUR 2.25

EUR 137.71

1.56%

EUR 180.03

-22.31%

 

 

JKM LNG

Jun-23

$12.50

$12.94

-3.38%

-$0.44

$13.30

-6.02%

$24.78

-49.55%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

Cooling Degree Days

 

 

 

 

 

 

04/15/2023

Week Tot

Dev Norm

Dev L YR

Cum Tot

CumD Norm

CumD L YR

CumD Norm

CumD L YR

 

 

New England

2

2

2

2

2

2

NA

NA

 

 

Middle Atlantic

9

9

8

9

9

8

NA

NA

 

 

E N Central

3

3

3

3

2

3

NA

NA

 

 

W N Central

3

2

2

3

-2

3

NA

NA

 

 

South Atlantic

19

5

0

201

60

31

43.00%

18.00%

 

 

E S Central

1

-4

-7

44

3

25

NA

NA

 

 

W S Central

21

2

-17

172

56

43

48.00%

33.00%

 

 

Mountain

7

0

2

7

-20

-17

NA

NA

 

 

Pacific

0

-3

0

0

-12

-7

NA

NA

 

 

United States

9

4

0

62

17

12

NA

NA

 

 

 

 

Heating Degree Days

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

04/15/2023

Week Tot

Dev Norm

Dev L YR

Cum Tot

CumD Norm

CumD L YR

CumD Norm

CumD L YR

 

 

New England

73

-72

-33

5,154

-858

-275

-14.00%

-5.00%

 

 

Middle Atlantic

53

-72

-35

4,643

-803

-171

-15.00%

-4.00%

 

 

E N Central

47

-80

-68

5,322

-671

-142

-11.00%

-3.00%

 

 

W N Central

57

-62

-80

6,105

-195

225

-3.00%

4.00%

 

 

South Atlantic

36

-10

-6

2,292

-424

-5

-16.00%

0.00%

 

 

E S Central

41

-14

-12

2,917

-520

-102

-15.00%

-3.00%

 

 

W S Central

22

-3

5

2,023

-216

117

-10.00%

6.00%

 

 

Mountain

83

-22

-46

5,081

374

754

8.00%

17.00%

 

 

Pacific

85

11

-15

3,266

429

619

15.00%

23.00%

 

 

United States

53

-34

-30

3,859

-323

105

-8.00%

3.00%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gas * Power * NGL * Crude * Products * Vol Charts

 

 

 

 

 

Weather Forecast & Seasonal Outlook

 

 

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