Morning Report: Gas * Power * NGL * Crude * Products * Vols — Apr-20-2023

Apr 20, 2023

  

 

 

 

 

 

 

 

 

 

Prices as of 9:08 AM CST

 

 

 

 

 

 

 

Current Price

Previous Settle

% Change

Change

Volume

 

 

Natural Gas

$2.220

$2.222

-0.09%

-$0.002

32,121

 

 

WTI

$77.34

$79.16

-2.30%

-$1.82

3,776

 

 

Brent

$81.45

$83.12

-2.01%

-$1.67

11,214

 

 

ULSD

$2.505

$2.558

-2.05%

-$0.052

3,789

 

 

RBOB

$2.576

$2.646

-2.61%

-$0.069

5,384

 

 

 

 

Spreads

 

 

 

 

 

 

 

Current

Previous

% Change

Change

Contract

 

 

WTI-Brent

$3.83

$3.88

-1.29%

-$0.05

Jun-23

 

 

3:2:1 Crack

$28.55

$29.49

-3.18%

-$0.94

May-23

 

 

PJM West Spark

$32.11

$32.81

-2.13%

-$0.70

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

4/19/23

4/18/23

% Change

Change

3/21/23

% Change

4/19/22

% Change

 

 

PJM West On Peak

May-23

$36.86

$37.56

-1.87%

-$0.70

$37.16

-0.82%

$67.18

-45.13%

 

 

ERCOT North On Peak

May-23

$34.24

$33.93

0.92%

$0.31

$37.28

-8.15%

$53.94

-36.52%

 

 

CAISO SP 15 On Peak

May-23

$35.54

$36.20

-1.81%

-$0.65

$33.66

5.59%

$35.70

-0.43%

 

 

MISO Indiana On Peak

May-23

$39.91

$40.82

-2.24%

-$0.92

$39.89

0.04%

$68.01

-41.32%

 

 

NEISO Mass On Peak

May-23

$31.66

$34.55

-8.35%

-$2.88

$32.68

-3.11%

$52.95

-40.20%

 

 

WECC Mid C On Peak

May-23

$67.31

$77.11

-12.71%

-$9.80

$61.02

10.30%

$36.15

86.21%

 

 

NYISO Zone G On Peak

May-23

$35.28

$37.62

-6.21%

-$2.34

$33.24

6.13%

$51.17

-31.05%

 

 

 

 

 

Natural Gas & Basis

 

 

 

EOXLive Market Data

 

 

 

Contract

4/19/23

4/18/23

% Change

Change

3/21/23

% Change

4/19/22

% Change

 

 

NYMEX Henry Hub

May-23

$2.222

$2.366

-6.09%

-$0.14

$2.48

-10.58%

$4.69

-52.65%

 

 

Houston Ship Channel

May-23

-$0.326

-$0.299

9.10%

-$0.03

-$0.32

1.72%

-$0.18

80.52%

 

 

Chicago

May-23

-$0.181

-$0.153

-15.58%

-$0.03

-$0.07

162.32%

-$0.31

-40.77%

 

 

Waha

May-23

-$1.348

-$1.309

-3.02%

-$0.04

-$1.94

-30.52%

-$1.70

-20.60%

 

 

Algonquin

May-23

-$0.245

$0.133

-284.40%

-$0.38

-$0.17

46.09%

-$0.54

-55.00%

 

 

Aeco

May-23

-$0.732

-$0.637

14.97%

-$0.10

-$0.67

9.45%

-$1.11

-33.77%

 

 

Socal

May-23

$0.513

$0.637

-19.47%

-$0.12

$0.30

70.36%

-$0.51

-200.59%

 

 

 

 

 

Natural Gas Liquids

 

 

 

EOXLive Market Data

 

 

 

Contract

4/19/23

4/18/23

% Change

Change

3/21/23

% Change

4/19/22

% Change

 

 

Mt. Belvieu Propane LST

May-23

$0.812

$0.825

-1.52%

-$0.01

$0.74

10.54%

$1.05

-22.34%

 

 

Mt. Belvieu Propane non LST

May-23

$0.816

$0.824

-0.91%

-$0.01

$0.73

11.78%

$1.04

-21.31%

 

 

Mt. Belview Ethane

May-23

$0.210

$0.215

-2.43%

-$0.01

$0.22

-4.52%

$0.38

-44.95%

 

 

Mt. Belview Nat. Gasoline

May-23

$1.558

$1.591

-2.10%

-$0.03

$1.45

7.39%

$2.05

-23.86%

 

 

Mt. Belvieu Butane LST

May-23

$0.922

$0.941

-2.05%

-$0.02

$0.83

11.08%

$1.18

-21.66%

 

 

Conway Propane

May-23

$0.806

$0.810

-0.49%

$0.00

$0.71

13.13%

$1.05

-23.13%

 

 

Conway Nat. Gasoline

May-23

$1.554

$1.631

-4.71%

-$0.08

$1.46

6.30%

$2.00

-22.19%

 

 

 

 

Crude Oil

 

 

 

EOXLive Market Data

 

 

 

Contract

4/19/23

4/18/23

% Change

Change

3/21/23

% Change

4/19/22

% Change

 

 

WTI

Jun-23

$79.24

$80.90

-2.09%

-$1.66

$69.77

13.57%

$87.21

-9.14%

 

 

Brent

Jun-23

$83.12

$84.77

-1.99%

-$1.65

$75.03

10.78%

$92.62

-10.26%

 

 

WCS

Jun-23

-$15.07

-$14.64

2.82%

-$0.43

-$15.20

-0.88%

-$13.85

8.76%

 

 

LLS

Jun-23

$80.85

$82.96

-2.61%

-$2.11

$71.77

12.65%

$88.56

-8.70%

 

 

Mars

Jun-23

$77.78

$79.15

-1.76%

-$1.37

$68.73

13.17%

$85.15

-8.65%

 

 

Sour

Jun-23

$78.36

$80.07

-2.18%

-$1.71

$69.01

13.55%

$91.95

-14.78%

 

 

ESPO

Jun-23

$81.84

$82.96

-1.37%

-$1.13

$73.10

11.95%

$89.75

-8.81%

 

 

 

 

Refined Products

 

 

 

EOXLive Market Data

 

 

 

Contract

4/19/23

4/18/23

% Change

Change

3/21/23

% Change

4/19/22

% Change

 

 

NY Heating Oil

May-23

$2.56

$2.60

-1.54%

-$0.04

$2.57

-0.70%

$2.87

-10.94%

 

 

NY Gasoline

May-23

$2.65

$2.74

-3.43%

-$0.09

$2.50

5.96%

$2.96

-10.45%

 

 

GC Gasoline

May-23

$2.55

$2.64

-3.56%

-$0.09

$2.40

6.21%

$2.86

-10.81%

 

 

GC Jet

May-23

$2.31

$2.26

2.17%

$0.05

$2.30

0.48%

$2.77

-16.65%

 

 

Chicago Ethanol

May-23

$2.37

$2.42

-2.27%

-$0.06

$2.24

5.58%

$2.71

-12.63%

 

 

Rotterdam Gasoil

May-23

$694.92

$716.02

-2.95%

-$21.10

$689.73

0.75%

$736.85

-5.69%

 

 

Singapore Jet Kero

May-23

$95.97

$100.51

-4.52%

-$4.55

$93.94

2.16%

$109.31

-12.21%

 

 

 

 

Implied Volatilities

 

 

 

EOXLive Market Data

 

 

 

Contract

4/19/23

4/18/23

% Change

Change

3/21/23

% Change

4/19/22

% Change

 

 

Henry Hub Straddle

Jun-23

83.91%

79.32%

5.79%

4.59%

86.17%

-2.62%

35.48%

136.50%

 

 

Algonquin Straddle

Jun-23

206.00%

199.15%

3.44%

6.85%

91.45%

125.26%

40.18%

412.69%

 

 

Waha Straddle

Jun-23

238.07%

229.72%

3.63%

8.35%

197.57%

20.50%

62.43%

281.34%

 

 

Chicago Straddle

Jun-23

89.46%

84.35%

6.06%

5.11%

88.40%

1.20%

37.09%

141.20%

 

 

PJM West Straddle

Jun-23

78.17%

76.34%

2.40%

1.83%

71.70%

9.02%

32.76%

138.61%

 

 

SP – 15 Straddle

Jun-23

238.00%

209.53%

13.59%

28.47%

110.14%

116.09%

57.25%

315.72%

 

 

Mid. C Straddle

Jun-23

186.89%

193.31%

-3.32%

-6.42%

150.31%

24.34%

62.46%

199.22%

 

 

 

 

Euro Gas and Power/LNG

 

 

EOXLive Market Data

 

 

 

Contract

4/19/23

4/18/23

% Change

Change

3/21/23

% Change

4/19/22

% Change

 

 

Dutch TTF

Jun-23

EUR 40.16

EUR 42.65

-5.84%

-EUR 2.49

EUR 42.28

-5.03%

EUR 71.73

-44.01%

 

 

NBP

Jun-23

GBP 97.55

GBP 103.51

-5.76%

-GBP 5.96

GBP 105.50

-7.54%

GBP 172.44

-43.43%

 

 

German Base

Jun-23

EUR 107.80

EUR 109.50

-1.55%

-EUR 1.70

EUR 112.95

-4.56%

EUR 171.01

-36.96%

 

 

UK Base

Jun-23

GBP 108.00

GBP 109.15

-1.05%

-GBP 1.15

GBP 118.10

-8.55%

GBP 164.36

-34.29%

 

 

French Base

Jun-23

EUR 116.82

EUR 116.85

-0.02%

-EUR 0.03

EUR 122.73

-4.82%

EUR 159.03

-26.54%

 

 

Italian Base

Jun-23

EUR 143.28

EUR 147.55

-2.90%

-EUR 4.27

EUR 136.67

4.83%

EUR 179.25

-20.07%

 

 

JKM LNG

Jun-23

$13.49

$13.22

2.01%

$0.27

$13.20

2.19%

$23.58

-42.79%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

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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