Morning Report: Gas * Power * NGL * Crude * Products * Vols — Apr-25-2023

Apr 25, 2023

  

 

 

 

 

 

 

 

 

 

Prices as of 8:32 AM CST

 

 

 

 

 

 

 

Current Price

Previous Settle

% Change

Change

Volume

 

 

Natural Gas

$2.218

$2.273

-2.42%

-$0.055

7,290

 

 

WTI

$77.98

$78.76

-0.99%

-$0.78

105,342

 

 

Brent

$81.85

$82.73

-1.06%

-$0.88

4,706

 

 

ULSD

$2.500

$2.531

-1.22%

-$0.031

2,691

 

 

RBOB

$2.619

$2.632

-0.49%

-$0.013

1,364

 

 

 

 

Spreads

 

 

 

 

 

 

 

Current

Previous

% Change

Change

Contract

 

 

WTI-Brent

$3.90

$3.97

-1.76%

-$0.07

Jun-23

 

 

3:2:1 Crack

$29.65

$29.64

0.06%

$0.02

Jun-23

 

 

PJM West Spark

$31.62

$30.94

2.19%

$0.68

May-23

 

 

 

 

Baker Hughes Rig Count

 

 

 

 

 

 

 

Date

Count

Change

1 Year Chg.

1 Year Date

 

 

U.S.

04/21/23

753

5

58

04/21/22

 

 

Canada

04/21/23

105

-6

4

04/21/22

 

 

International

Mar

930

15

115

Mar

 

 

 

 

CFTC Net Positions

 

 

 

 

 

 

As of 4/18/2023

Open Interest

Total Net Long

Total Net Short

Diff

 

 

PJM West On Peak

96,133

95,725

95,572

153

 

 

PJM West Off Peak

86,330

85,706

85,808

-102

 

 

Natural Gas Henry Hub

452,290

421,551

438,429

-16,878

 

 

WTI – Light Sweet Crude Futures

138,058

103,898

100,673

3,225

 

 

Brent Crude Last Day

153,902

144,676

148,278

-3,602

 

 

NYM Ethanol

33,801

33,243

33,373

-130

 

 

Mt Belvieu LDH Propane Swap

143,059

141,858

142,543

-685

 

 

RBOB

324,811

299,317

308,618

-9,301

 

 

HSC Basis

572,475

568,414

563,263

5,151

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

EIA Lower 48 Natural Gas Storage

 

 

 

 

04/20/18

 

 

 

4/14/23

4/7/23

Net Change

% Change

4/15/22

% Change

5 Year Avg.

% Change

 

 

East

363

345

18

5.22%

238

52.52%

284

27.91%

 

 

Midwest

450

427

23

5.39%

304

48.03%

339

32.90%

 

 

Mountain

84

80

4

5.00%

89

-5.62%

91

-8.10%

 

 

Pacific

83

74

9

12.16%

169

-50.89%

181

-54.09%

 

 

South

949

929

20

2.15%

650

46.00%

724

31.04%

 

 

    Salt

266

261

5

1.92%

201

32.34%

229

16.26%

 

 

    Non_Salt

684

667

17

2.55%

449

52.34%

495

38.07%

 

 

Total

1,930

1,855

75

4.04%

1,450

33.10%

1,619

19.24%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Power Generation Additions/Retirements

 

 

  

 

Front Month Prices

 

 

 

 

 

 

 

 

 

 

 

 

 

Electricity

 

 

 

EOXLive Market Data

 

 

 

Contract

4/24/23

4/21/23

% Change

Change

3/24/23

% Change

4/22/22

% Change

 

 

PJM West On Peak

May-23

$36.37

$35.81

1.57%

$0.56

$36.35

0.06%

$61.85

-41.20%

 

 

ERCOT North On Peak

May-23

$30.31

$34.12

-11.17%

-$3.81

$37.02

-18.12%

$49.19

-38.39%

 

 

CAISO SP 15 On Peak

May-23

$36.23

$34.69

4.45%

$1.54

$33.75

7.34%

$33.94

6.75%

 

 

MISO Indiana On Peak

May-23

$39.82

$39.17

1.65%

$0.65

$39.27

1.40%

$62.91

-36.70%

 

 

NEISO Mass On Peak

May-23

$33.01

$34.94

-5.53%

-$1.93

$33.25

-0.73%

$54.24

-39.14%

 

 

WECC Mid C On Peak

May-23

$72.20

$70.25

2.76%

$1.94

$65.18

10.77%

$35.80

101.68%

 

 

NYISO Zone G On Peak

May-23

$35.04

$37.06

-5.44%

-$2.02

$34.18

2.51%

$46.05

-23.91%

 

 

 

 

 

Natural Gas & Basis

 

 

 

EOXLive Market Data

 

 

 

Contract

4/24/23

4/21/23

% Change

Change

3/24/23

% Change

4/22/22

% Change

 

 

NYMEX Henry Hub

May-23

$2.273

$2.233

1.79%

$0.04

$2.36

-3.73%

$4.02

-43.47%

 

 

Houston Ship Channel

May-23

-$0.276

-$0.289

-4.50%

$0.01

-$0.30

-6.75%

-$0.19

47.49%

 

 

Chicago

May-23

-$0.152

-$0.162

6.65%

$0.01

-$0.07

126.91%

-$0.31

-51.39%

 

 

Waha

May-23

-$1.296

-$1.299

-0.25%

$0.00

-$1.89

-31.35%

-$2.00

-35.12%

 

 

Algonquin

May-23

-$0.242

-$0.226

-7.09%

-$0.02

-$0.16

46.57%

-$0.70

-65.35%

 

 

Aeco

May-23

-$0.671

-$0.646

3.85%

-$0.02

-$0.49

37.00%

-$1.11

-39.57%

 

 

Socal

May-23

$0.572

$0.508

12.59%

$0.06

$0.12

388.81%

-$0.51

-211.71%

 

 

 

 

 

Natural Gas Liquids

 

 

 

EOXLive Market Data

 

 

 

Contract

4/24/23

4/21/23

% Change

Change

3/24/23

% Change

4/22/22

% Change

 

 

Mt. Belvieu Propane LST

May-23

$0.805

$0.805

0.00%

$0.00

$0.75

6.98%

$1.02

-21.38%

 

 

Mt. Belvieu Propane non LST

May-23

$0.808

$0.807

0.05%

$0.00

$0.75

7.66%

$1.04

-22.13%

 

 

Mt. Belview Ethane

May-23

$0.209

$0.213

-1.99%

$0.00

$0.23

-8.98%

$0.35

-40.82%

 

 

Mt. Belview Nat. Gasoline

May-23

$1.547

$1.543

0.24%

$0.00

$1.49

4.16%

$1.93

-19.94%

 

 

Mt. Belvieu Butane LST

May-23

$0.920

$0.924

-0.38%

$0.00

$0.86

6.58%

$1.15

-20.11%

 

 

Conway Propane

May-23

$0.796

$0.793

0.38%

$0.00

$0.72

9.75%

$1.00

-20.78%

 

 

Conway Nat. Gasoline

May-23

$1.581

$1.572

0.59%

$0.01

$1.50

5.55%

$1.90

-16.71%

 

 

 

 

Crude Oil

 

 

 

EOXLive Market Data

 

 

 

Contract

4/24/23

4/21/23

% Change

Change

3/24/23

% Change

4/22/22

% Change

 

 

WTI

Jun-23

$78.76

$77.87

1.13%

$0.89

$69.41

13.47%

$87.05

-9.52%

 

 

Brent

Jun-23

$82.73

$81.66

1.29%

$1.07

$74.59

10.91%

$92.47

-10.53%

 

 

WCS

Jun-23

-$14.70

-$14.61

0.65%

-$0.09

-$14.55

1.04%

-$12.35

19.07%

 

 

LLS

Jun-23

$80.36

$79.30

1.32%

$1.06

$70.98

13.23%

$88.44

-9.14%

 

 

Mars

Jun-23

$76.76

$75.90

1.11%

$0.85

$67.85

13.13%

$85.36

-10.08%

 

 

Sour

Jun-23

$77.22

$76.44

1.01%

$0.78

$68.47

12.78%

$86.52

-10.74%

 

 

ESPO

Jun-23

$81.75

$80.09

2.02%

$1.65

$72.80

12.28%

$89.79

-8.96%

 

 

 

 

Refined Products

 

 

 

EOXLive Market Data

 

 

 

Contract

4/24/23

4/21/23

% Change

Change

3/24/23

% Change

4/22/22

% Change

 

 

NY Heating Oil

May-23

$2.63

$2.49

5.78%

$0.14

$2.58

2.25%

$2.90

-9.23%

 

 

NY Gasoline

May-23

$2.63

$2.60

1.04%

$0.03

$2.55

3.10%

$2.71

-3.20%

 

 

GC Gasoline

May-23

$2.53

$2.50

1.08%

$0.03

$2.45

3.23%

$2.62

-3.33%

 

 

GC Jet

May-23

$2.29

$2.35

-2.72%

-$0.06

$2.16

6.12%

$3.23

-29.24%

 

 

Chicago Ethanol

May-23

$2.39

$2.40

-0.42%

-$0.01

$2.31

3.60%

$2.50

-4.36%

 

 

Rotterdam Gasoil

May-23

$679.82

$680.66

-0.12%

-$0.84

$677.91

0.28%

$809.04

-15.97%

 

 

Singapore Jet Kero

May-23

$93.48

$92.98

0.54%

$0.50

$93.46

0.02%

$112.39

-16.82%

 

 

 

 

Implied Volatilities

 

 

 

EOXLive Market Data

 

 

 

Contract

4/24/23

4/21/23

% Change

Change

3/24/23

% Change

4/22/22

% Change

 

 

Henry Hub Straddle

Jun-23

66.42%

65.10%

2.03%

1.32%

81.25%

-18.25%

50.72%

30.95%

 

 

Algonquin Straddle

Jun-23

178.11%

185.53%

-4.00%

-7.42%

83.68%

112.85%

64.68%

175.37%

 

 

Waha Straddle

Jun-23

208.51%

230.65%

-9.60%

-22.14%

203.59%

2.42%

113.68%

83.42%

 

 

Chicago Straddle

Jun-23

68.59%

68.50%

0.13%

0.09%

82.90%

-17.26%

54.36%

26.18%

 

 

PJM West Straddle

Jun-23

76.59%

80.77%

-5.18%

-4.18%

73.17%

4.67%

36.68%

108.81%

 

 

SP – 15 Straddle

Jun-23

151.37%

186.03%

-18.63%

-34.66%

126.38%

19.77%

68.39%

121.33%

 

 

Mid. C Straddle

Jun-23

192.22%

187.94%

2.28%

4.28%

158.92%

20.95%

75.65%

154.09%

 

 

 

 

Euro Gas and Power/LNG

 

 

EOXLive Market Data

 

 

 

Contract

4/24/23

4/21/23

% Change

Change

3/24/23

% Change

4/22/22

% Change

 

 

Dutch TTF

Jun-23

EUR 39.68

EUR 40.95

-3.10%

-EUR 1.27

EUR 42.30

-6.19%

EUR 76.79

-48.33%

 

 

NBP

Jun-23

GBP 96.05

GBP 99.15

-3.13%

-GBP 3.10

GBP 104.10

-7.73%

GBP 182.43

-47.35%

 

 

German Base

Jun-23

EUR 105.00

EUR 105.80

-0.76%

-EUR 0.80

EUR 115.13

-8.80%

EUR 178.83

-41.29%

 

 

UK Base

Jun-23

GBP 101.22

GBP 99.60

1.62%

GBP 1.62

GBP 112.28

-9.85%

GBP 169.48

-40.28%

 

 

French Base

Jun-23

EUR 111.86

EUR 115.76

-3.37%

-EUR 3.90

EUR 120.11

-6.87%

EUR 174.67

-35.96%

 

 

Italian Base

Jun-23

EUR 140.04

EUR 144.51

-3.09%

-EUR 4.47

EUR 137.95

1.51%

EUR 188.50

-25.71%

 

 

JKM LNG

Jun-23

$12.96

$12.94

0.12%

$0.02

$12.39

4.59%

$24.36

-46.82%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

Cooling Degree Days

 

 

 

 

 

 

04/22/2023

Week Tot

Dev Norm

Dev L YR

Cum Tot

CumD Norm

CumD L YR

CumD Norm

CumD L YR

 

 

New England

0

0

0

2

2

2

NA

NA

 

 

Middle Atlantic

0

0

0

9

9

8

NA

NA

 

 

E N Central

0

0

0

3

2

3

NA

NA

 

 

W N Central

1

0

-1

4

-1

3

NA

NA

 

 

South Atlantic

20

3

-1

221

63

30

40.00%

16.00%

 

 

E S Central

2

-3

-3

46

0

22

NA

NA

 

 

W S Central

26

3

-22

198

59

21

42.00%

12.00%

 

 

Mountain

5

-4

-7

12

-24

-24

NA

NA

 

 

Pacific

0

-3

0

0

-15

-7

NA

NA

 

 

United States

7

-1

-3

69

16

9

NA

NA

 

 

 

 

Heating Degree Days

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

04/22/2023

Week Tot

Dev Norm

Dev L YR

Cum Tot

CumD Norm

CumD L YR

CumD Norm

CumD L YR

 

 

New England

105

-23

-24

5,259

-881

-298

-14.00%

-5.00%

 

 

Middle Atlantic

69

-38

-60

4,712

-841

-231

-15.00%

-5.00%

 

 

E N Central

113

3

-35

5,435

-668

-177

-11.00%

-3.00%

 

 

W N Central

133

33

-17

6,238

-161

208

-3.00%

3.00%

 

 

South Atlantic

19

-18

-29

2,311

-442

-34

-16.00%

-1.00%

 

 

E S Central

38

-6

-20

2,955

-527

-122

-15.00%

-4.00%

 

 

W S Central

22

5

8

2,045

-211

125

-9.00%

6.00%

 

 

Mountain

111

17

34

5,193

392

788

8.00%

18.00%

 

 

Pacific

84

18

-1

3,350

447

617

15.00%

23.00%

 

 

United States

71

-3

-20

3,930

-326

85

-8.00%

2.00%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

Weather Forecast & Seasonal Outlook

 

 

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