Morning Report: Gas * Power * NGL * Crude * Products * Vols — Apr-26-2023

Apr 26, 2023

  

 

 

 

 

 

 

 

 

 

Prices as of 8:36 AM CST

 

 

 

 

 

 

 

Current Price

Previous Settle

% Change

Change

Volume

 

 

Natural Gas

$2.177

$2.307

-5.64%

-$0.130

787

 

 

WTI

$76.39

$77.07

-0.88%

-$0.68

152,940

 

 

Brent

$79.75

$80.77

-1.26%

-$1.02

4,711

 

 

ULSD

$2.406

$2.451

-1.82%

-$0.045

1,184

 

 

RBOB

$2.584

$2.589

-0.18%

-$0.005

1,962

 

 

 

 

Spreads

 

 

 

 

 

 

 

Current

Previous

% Change

Change

Contract

 

 

WTI-Brent

$3.36

$3.70

-9.19%

-$0.34

Jun-23

 

 

3:2:1 Crack

$28.71

$28.83

-0.43%

-$0.12

Jun-23

 

 

PJM West Spark

$30.64

$31.43

-2.53%

-$0.79

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

4/25/23

4/24/23

% Change

Change

3/27/23

% Change

4/25/22

% Change

 

 

PJM West On Peak

May-23

$35.28

$36.37

-2.98%

-$1.08

$34.93

1.02%

$62.48

-43.52%

 

 

ERCOT North On Peak

May-23

$31.96

$30.31

5.46%

$1.65

$36.17

-11.62%

$47.15

-32.21%

 

 

CAISO SP 15 On Peak

May-23

$35.99

$36.23

-0.67%

-$0.24

$33.52

7.37%

$34.85

3.28%

 

 

MISO Indiana On Peak

May-23

$38.78

$39.82

-2.62%

-$1.04

$37.17

4.33%

$63.64

-39.07%

 

 

NEISO Mass On Peak

May-23

$32.64

$33.01

-1.12%

-$0.37

$31.30

4.28%

$50.03

-34.76%

 

 

WECC Mid C On Peak

May-23

$65.95

$72.20

-8.65%

-$6.24

$62.92

4.82%

$36.04

82.98%

 

 

NYISO Zone G On Peak

May-23

$34.92

$35.04

-0.35%

-$0.12

$32.07

8.90%

$48.80

-28.45%

 

 

 

 

 

Natural Gas & Basis

 

 

 

EOXLive Market Data

 

 

 

Contract

4/25/23

4/24/23

% Change

Change

3/27/23

% Change

4/25/22

% Change

 

 

NYMEX Henry Hub

May-23

$2.307

$2.273

1.50%

$0.03

$2.21

4.15%

$4.08

-43.50%

 

 

Houston Ship Channel

May-23

-$0.245

-$0.276

-11.12%

$0.03

-$0.31

-22.07%

-$0.19

29.23%

 

 

Chicago

May-23

-$0.160

-$0.152

-5.30%

-$0.01

-$0.08

91.52%

-$0.32

-50.14%

 

 

Waha

May-23

-$1.169

-$1.296

-9.78%

$0.13

-$1.89

-38.27%

-$2.14

-45.35%

 

 

Algonquin

May-23

-$0.248

-$0.242

-2.73%

-$0.01

-$0.17

43.69%

-$0.70

-64.62%

 

 

Aeco

May-23

-$0.720

-$0.671

7.35%

-$0.05

-$0.42

69.94%

-$1.10

-34.71%

 

 

Socal

May-23

$0.604

$0.572

5.59%

$0.03

$0.16

289.94%

-$0.51

-219.40%

 

 

 

 

 

Natural Gas Liquids

 

 

 

EOXLive Market Data

 

 

 

Contract

4/25/23

4/24/23

% Change

Change

3/27/23

% Change

4/25/22

% Change

 

 

Mt. Belvieu Propane LST

May-23

$0.785

$0.805

-2.50%

-$0.02

$0.77

1.93%

$1.02

-22.70%

 

 

Mt. Belvieu Propane non LST

May-23

$0.786

$0.808

-2.64%

-$0.02

$0.77

2.60%

$0.92

-14.77%

 

 

Mt. Belview Ethane

May-23

$0.210

$0.209

0.66%

$0.00

$0.22

-4.95%

$0.35

-39.47%

 

 

Mt. Belview Nat. Gasoline

May-23

$1.538

$1.547

-0.60%

-$0.01

$1.50

2.84%

$1.95

-21.13%

 

 

Mt. Belvieu Butane LST

May-23

$0.901

$0.920

-2.12%

-$0.02

$0.87

3.25%

$1.19

-24.49%

 

 

Conway Propane

May-23

$0.777

$0.796

-2.29%

-$0.02

$0.75

4.05%

$0.99

-21.55%

 

 

Conway Nat. Gasoline

May-23

$1.566

$1.581

-0.96%

-$0.02

$1.51

3.57%

$1.92

-18.25%

 

 

 

 

Crude Oil

 

 

 

EOXLive Market Data

 

 

 

Contract

4/25/23

4/24/23

% Change

Change

3/27/23

% Change

4/25/22

% Change

 

 

WTI

Jun-23

$77.07

$78.76

-2.19%

-$1.69

$72.93

5.68%

$85.06

-9.39%

 

 

Brent

Jun-23

$80.77

$82.73

-2.43%

-$1.96

$77.76

3.87%

$90.33

-10.58%

 

 

WCS

Jun-23

-$14.04

-$14.70

-4.69%

$0.66

-$14.30

-1.80%

-$13.07

7.43%

 

 

LLS

Jun-23

$78.43

$80.36

-2.46%

-$1.93

$74.60

5.13%

$83.49

-6.06%

 

 

Mars

Jun-23

$75.31

$76.76

-1.92%

-$1.45

$71.68

5.06%

$81.17

-7.22%

 

 

Sour

Jun-23

$75.55

$77.22

-2.21%

-$1.67

$71.92

5.06%

$80.88

-6.58%

 

 

ESPO

Jun-23

$79.42

$81.75

-2.93%

-$2.32

$74.69

6.34%

$84.74

-6.28%

 

 

 

 

Refined Products

 

 

 

EOXLive Market Data

 

 

 

Contract

4/25/23

4/24/23

% Change

Change

3/27/23

% Change

4/25/22

% Change

 

 

NY Heating Oil

May-23

$2.45

$2.63

-7.02%

-$0.18

$2.65

-7.41%

$2.73

-10.16%

 

 

NY Gasoline

May-23

$2.60

$2.63

-1.22%

-$0.03

$2.65

-2.19%

$2.62

-0.76%

 

 

GC Gasoline

May-23

$2.50

$2.53

-1.27%

-$0.03

$2.55

-2.27%

$2.52

-0.79%

 

 

GC Jet

May-23

$2.21

$2.29

-3.49%

-$0.08

$2.47

-10.49%

$2.97

-25.75%

 

 

Chicago Ethanol

May-23

$2.41

$2.39

0.84%

$0.02

$2.35

2.77%

$2.50

-3.56%

 

 

Rotterdam Gasoil

May-23

$676.12

$679.82

-0.54%

-$3.70

$688.02

-1.73%

$792.67

-14.70%

 

 

Singapore Jet Kero

May-23

$96.15

$93.48

2.86%

$2.67

$93.96

2.33%

$106.34

-9.58%

 

 

 

 

Implied Volatilities

 

 

 

EOXLive Market Data

 

 

 

Contract

4/25/23

4/24/23

% Change

Change

3/27/23

% Change

4/25/22

% Change

 

 

Henry Hub Straddle

Jun-23

66.32%

66.42%

-0.15%

-0.10%

89.17%

-25.63%

39.42%

68.24%

 

 

Algonquin Straddle

Jun-23

181.69%

178.11%

2.01%

3.58%

92.71%

95.98%

53.04%

242.55%

 

 

Waha Straddle

Jun-23

215.06%

208.51%

3.14%

6.55%

217.24%

-1.00%

101.90%

111.05%

 

 

Chicago Straddle

Jun-23

70.55%

68.59%

2.86%

1.96%

90.87%

-22.36%

42.62%

65.53%

 

 

PJM West Straddle

Jun-23

73.46%

76.59%

-4.09%

-3.13%

65.31%

12.48%

34.92%

110.37%

 

 

SP – 15 Straddle

Jun-23

160.13%

151.37%

5.79%

8.76%

117.10%

36.75%

54.95%

191.41%

 

 

Mid. C Straddle

Jun-23

193.37%

192.22%

0.60%

1.15%

160.55%

20.44%

56.90%

239.84%

 

 

 

 

Euro Gas and Power/LNG

 

 

EOXLive Market Data

 

 

 

Contract

4/25/23

4/24/23

% Change

Change

3/27/23

% Change

4/25/22

% Change

 

 

Dutch TTF

Jun-23

EUR 39.55

EUR 39.68

-0.33%

-EUR 0.13

EUR 41.87

-5.54%

EUR 75.40

-47.55%

 

 

NBP

Jun-23

GBP 95.98

GBP 96.05

-0.07%

-GBP 0.07

GBP 105.50

-9.02%

GBP 186.48

-48.53%

 

 

German Base

Jun-23

EUR 101.90

EUR 105.00

-2.95%

-EUR 3.10

EUR 113.17

-9.96%

EUR 173.69

-41.33%

 

 

UK Base

Jun-23

GBP 96.87

GBP 101.22

-4.30%

-GBP 4.35

GBP 114.83

-15.65%

GBP 175.40

-44.77%

 

 

French Base

Jun-23

EUR 107.05

EUR 111.86

-4.30%

-EUR 4.81

EUR 124.62

-14.10%

EUR 171.72

-37.66%

 

 

Italian Base

Jun-23

EUR 133.35

EUR 140.04

-4.77%

-EUR 6.68

EUR 136.52

-2.32%

EUR 186.47

-28.48%

 

 

JKM LNG

Jun-23

$13.08

$12.96

0.94%

$0.12

$12.78

2.30%

$24.38

-46.36%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

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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