Morning Report: Gas * Power * NGL * Crude * Products * Vols — Apr-30-2024

Apr 30, 2024

  

 

 

 

 

 

 

 

 

 

Prices as of 8:39 AM CST

 

 

 

 

 

 

 

Current Price

Previous Settle

% Change

Change

Volume

 

 

Natural Gas

$2.053

$2.030

1.13%

$0.023

44,856

 

 

WTI

$82.30

$82.63

-0.40%

-$0.33

104,708

 

 

Brent

$88.13

$88.40

-0.31%

-$0.27

425

 

 

ULSD

$2.520

$2.531

-0.47%

-$0.012

427

 

 

RBOB

$2.720

$2.749

-1.04%

-$0.029

885

 

 

 

 

Spreads

 

 

 

 

 

 

 

Current

Previous

% Change

Change

Contract

 

 

WTI-Brent

$5.85

$5.77

1.39%

$0.08

Jun-24

 

 

3:2:1 Crack

$28.71

$29.48

-2.60%

-$0.77

Jun-24

 

 

PJM West Spark

NA

NA

NA

NA

May-24

 

 

 

 

Baker Hughes Rig Count

 

 

 

 

 

 

 

Date

Count

Change

1 Year Chg.

1 Year Date

 

 

U.S.

04/26/24

613

-6

-142

04/29/23

 

 

Canada

04/26/24

118

-9

25

04/29/23

 

 

International

Mar

971

13

41

Mar

 

 

 

 

CFTC Net Positions

 

 

 

 

 

 

As of 4/23/2024

Open Interest

Total Net Long

Total Net Short

Diff

 

 

PJM West On Peak

97,395

96,922

96,943

-21

 

 

PJM West Off Peak

85,896

85,538

85,639

-101

 

 

Natural Gas Henry Hub

370,039

348,931

356,167

-7,236

 

 

WTI – Light Sweet Crude Futures

167,796

146,921

137,793

9,128

 

 

Brent Crude Last Day

140,432

131,056

132,766

-1,710

 

 

NYM Ethanol

39,746

39,083

39,424

-341

 

 

Mt Belvieu LDH Propane Swap

156,172

155,170

155,655

-485

 

 

RBOB

416,152

387,965

400,617

-12,652

 

 

HSC Basis

836,488

827,498

830,284

-2,786

 

 

 

 

EIA Short Term Energy Outlook

 

 

 

 

 

 

 

2021

2022

2023projected

2024projected

 

 

Brent

$70.89

$100.94

$84.09

$94.91

 

 

Gasoline

$3.02

$3.97

$3.62

$3.69

 

 

Crude Oil Production

11.27

11.91

12.92

13.12

 

 

Natural Gas Spot

$3.91

$6.42

$2.61

$3.23

 

 

LNG Exports

9.76

10.59

11.62

13.15

 

 

 

 

 

 

 

 

 

 

Electrical Generation %

2021

2022

2023projected

2024projected

 

 

Natural gas

37.00%

39.00%

42.00%

41.00%

 

 

Coal

23.00%

20.00%

16.00%

15.00%

 

 

Renewables

20.00%

22.00%

22.00%

25.00%

 

 

Nuclear

20.00%

19.00%

19.00%

20.00%

 

 

 

 

 

 

 

 

 

 

 

Short Term Energy Outlook

 

Natural Gas Storage

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

EIA Lower 48 Natural Gas Storage

 

 

 

 

04/19/19

 

 

 

4/19/24

4/12/24

Net Change

% Change

4/21/23

% Change

5 Year Avg.

% Change

 

 

East

408

379

29

7.65%

390

4.62%

321

27.26%

 

 

Midwest

551

528

23

4.36%

468

17.74%

395

39.56%

 

 

Mountain

173

167

6

3.59%

90

92.22%

94

83.26%

 

 

Pacific

235

230

5

2.17%

90

161.11%

167

40.89%

 

 

South

1,057

1,029

28

2.72%

971

8.86%

813

30.08%

 

 

    Salt

309

300

9

3.00%

275

12.36%

253

22.04%

 

 

    Non_Salt

749

729

20

2.74%

695

7.77%

559

33.89%

 

 

Total

2,425

2,333

92

3.94%

2,009

20.71%

1,789

35.54%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Power Generation Additions/Retirements

 

 

  

 

Front Month Prices

 

 

 

 

 

 

 

 

 

 

 

 

 

Electricity

 

 

 

OTCGH/EOXLive Market Data

 

 

 

Contract

4/29/24

4/26/24

% Change

Change

4/1/24

% Change

4/28/23

% Change

 

 

PJM West On Peak

May-24

$34.77

$35.49

-2.01%

-$0.71

$37.55

-7.39%

$44.86

-22.49%

 

 

ERCOT North On Peak

May-24

$42.67

$42.36

0.73%

$0.31

$38.70

10.27%

$35.60

19.86%

 

 

CAISO SP 15 On Peak

May-24

$7.65

$6.86

11.53%

$0.79

$15.87

-51.78%

$28.58

-73.23%

 

 

MISO Indiana On Peak

May-24

$36.11

$36.52

-1.12%

-$0.41

$38.38

-5.91%

$48.80

-25.99%

 

 

NEISO Mass On Peak

May-24

$27.11

$27.71

-2.18%

-$0.60

$30.24

-10.34%

$38.58

-29.73%

 

 

WECC Mid C On Peak

May-24

$26.60

$25.28

5.23%

$1.32

$25.11

5.94%

$51.10

-47.94%

 

 

NYISO Zone G On Peak

May-24

$27.12

$27.71

-2.12%

-$0.59

$29.83

-9.07%

$39.92

-32.06%

 

 

 

 

 

Natural Gas & Basis

 

 

 

OTCGH/EOXLive Market Data

 

 

 

Contract

4/29/24

4/26/24

% Change

Change

4/1/24

% Change

4/28/23

% Change

 

 

NYMEX Henry Hub

Jun-24

$2.030

$1.923

5.56%

$0.11

$2.07

-2.12%

$3.35

-39.31%

 

 

Houston Ship Channel

Jun-24

-$0.237

-$0.224

5.62%

-$0.01

-$0.18

31.54%

-$0.39

-38.85%

 

 

Chicago

Jun-24

-$0.285

-$0.262

-7.97%

-$0.02

-$0.19

46.10%

-$0.24

16.81%

 

 

Waha

Jun-24

-$1.562

-$1.385

-12.73%

-$0.18

-$1.19

31.41%

-$1.39

12.27%

 

 

Algonquin

Jun-24

-$0.083

-$0.066

-25.61%

-$0.02

$0.43

-119.18%

-$0.30

-72.63%

 

 

Aeco

Jun-24

-$1.160

-$1.166

-0.50%

$0.01

-$0.76

53.05%

-$1.23

-5.85%

 

 

Socal

Jun-24

-$0.387

-$0.388

-0.15%

$0.00

-$0.10

284.51%

-$0.09

335.55%

 

 

 

 

 

Natural Gas Liquids

 

 

 

OTCGH/EOXLive Market Data

 

 

 

Contract

4/29/24

4/26/24

% Change

Change

4/1/24

% Change

4/28/23

% Change

 

 

Mt. Belvieu Propane LST

May-24

$0.782

$0.794

-1.43%

-$0.01

$0.82

-4.43%

$0.71

10.10%

 

 

Mt. Belvieu Propane non LST

May-24

$0.790

$0.796

-0.83%

-$0.01

$0.82

-3.42%

$0.71

10.56%

 

 

Mt. Belview Ethane

May-24

$0.184

$0.178

3.51%

$0.01

$0.19

-0.61%

$0.23

-18.90%

 

 

Mt. Belview Nat. Gasoline

May-24

$1.630

$1.645

-0.90%

-$0.01

$1.61

0.97%

$1.42

14.71%

 

 

Mt. Belvieu Butane LST

May-24

$0.883

$0.889

-0.67%

-$0.01

$0.94

-5.97%

$0.79

11.32%

 

 

Far East Propane

May-24

$6.103

$6.065

0.62%

$0.04

$6.04

1.00%

$5.03

21.34%

 

 

Saudi Propane

May-24

$5.800

$5.755

0.78%

$0.04

$5.85

-0.85%

$4.90

18.31%

 

 

 

 

Crude Oil

 

 

 

OTCGH/EOXLive Market Data

 

 

 

Contract

4/29/24

4/26/24

% Change

Change

4/1/24

% Change

4/28/23

% Change

 

 

WTI

Jun-24

$82.63

$83.85

-1.48%

-$1.22

$82.82

-0.23%

$71.86

14.99%

 

 

Brent

Jun-24

$88.40

$89.50

-1.24%

-$1.10

$87.42

1.12%

$76.05

16.24%

 

 

WCS

Jun-24

-$12.50

-$12.60

-0.80%

$0.10

-$11.58

7.95%

-$13.00

-3.86%

 

 

LLS

Jun-24

$85.58

$85.24

0.40%

$0.34

$84.25

1.58%

$73.76

16.04%

 

 

Mars

Jun-24

$83.18

$82.89

0.35%

$0.29

$82.40

0.96%

$69.36

19.93%

 

 

Sour

Jun-24

$83.85

$83.55

0.35%

$0.29

$82.89

1.16%

$69.72

20.26%

 

 

ESPO

Jun-24

$86.40

$87.50

-1.27%

-$1.10

$85.42

1.15%

$72.62

18.98%

 

 

 

 

Refined Products

 

 

 

OTCGH/EOXLive Market Data

 

 

 

Contract

4/29/24

4/26/24

% Change

Change

4/1/24

% Change

4/28/23

% Change

 

 

NY Heating Oil

May-24

$2.55

$2.55

0.00%

$0.00

$2.63

-3.19%

$2.37

7.55%

 

 

NY Gasoline

May-24

$2.75

$2.76

-0.18%

$0.00

$2.71

1.51%

$2.31

19.13%

 

 

GC Gasoline

May-24

$2.65

$2.66

-0.19%

-$0.01

$2.61

1.57%

$2.21

20.00%

 

 

GC Jet

May-24

$2.49

$2.52

-1.27%

-$0.03

$2.56

-2.62%

$2.15

15.81%

 

 

Chicago Ethanol

May-24

$1.71

$1.71

0.00%

$0.00

$1.68

1.49%

$1.60

6.63%

 

 

Rotterdam Gasoil

May-24

$745.48

$747.23

-0.23%

-$1.75

$764.37

-2.47%

$634.70

17.45%

 

 

Singapore Jet Kero

May-24

$99.49

$100.11

-0.62%

-$0.62

$102.63

-3.06%

$90.79

9.59%

 

 

 

 

Implied Volatilities

 

 

 

OTCGH/EOXLive Market Data

 

 

 

Contract

4/29/24

4/26/24

% Change

Change

4/1/24

% Change

4/28/23

% Change

 

 

Henry Hub Straddle

Jun-24

51.05%

55.85%

-8.59%

-4.80%

49.46%

3.21%

47.52%

7.43%

 

 

Algonquin Straddle

Jun-24

67.68%

70.58%

-4.11%

-2.90%

47.55%

42.33%

50.31%

34.53%

 

 

Waha Straddle

Jun-24

257.30%

265.98%

-3.26%

-8.68%

113.20%

127.30%

56.05%

359.05%

 

 

Chicago Straddle

Jun-24

60.50%

67.60%

-10.50%

-7.10%

52.75%

14.69%

48.46%

24.85%

 

 

PJM West Straddle

Jun-24

85.88%

84.98%

1.06%

0.90%

48.11%

78.51%

46.18%

85.97%

 

 

SP – 15 Straddle

Jun-24

90.65%

92.88%

-2.40%

-2.23%

22.31%

306.32%

49.62%

82.69%

 

 

Mid. C Straddle

Jun-24

51.03%

157.92%

-67.69%

-106.89%

191.09%

-73.30%

77.96%

-34.54%

 

 

 

 

Euro Gas and Power/LNG

 

 

OTCGH/EOXLive Market Data

 

 

 

Contract

4/29/24

4/26/24

% Change

Change

4/1/24

% Change

4/28/23

% Change

 

 

Dutch TTF

Jun-24

EUR 28.25

EUR 29.42

-3.96%

-EUR 1.16

EUR 27.47

2.85%

EUR 54.58

-48.24%

 

 

NBP

Jun-24

GBP 69.20

GBP 72.59

-4.67%

-GBP 3.39

GBP 67.65

2.29%

GBP 136.94

-49.47%

 

 

German Base

Jun-24

EUR 64.80

EUR 67.45

-3.93%

-EUR 2.65

EUR 59.75

8.45%

EUR 124.20

-47.83%

 

 

UK Base

Jun-24

GBP 60.79

GBP 61.57

-1.26%

-GBP 0.78

GBP 60.40

0.65%

GBP 125.00

-51.36%

 

 

French Base

Jun-24

EUR 34.98

EUR 34.37

1.78%

EUR 0.61

EUR 47.58

-26.48%

EUR 118.62

-70.51%

 

 

Italian Base

Jun-24

EUR 85.31

EUR 88.43

-3.53%

-EUR 3.12

EUR 86.04

-0.85%

EUR 138.01

-38.18%

 

 

JKM LNG

Jun-24

$9.88

$9.96

-0.81%

-$0.08

$9.54

3.56%

$16.58

-40.41%

 

 

 

 

Freight Forwards (WET & DRY)

 

OTCGH/EOXLive Market Data

 

 

 

Contract

4/29/24

4/26/24

% Change

Change

4/1/24

% Change

4/28/23

% Change

 

 

TD3C FFA Middle East to China (WET)

Jun-24

$28.25

$29.42

-3.96%

-$1.16

$27.47

2.85%

$54.58

-48.24%

 

 

USGC-UK Continent Dirty (WET)

Jun-24

$69.20

$72.59

-4.67%

-$3.39

$67.65

2.29%

$136.94

-49.47%

 

 

TD20 West Africa to UK Continent (WET)

Jun-24

$64.80

$67.45

-3.93%

-$2.65

$59.75

8.45%

$124.20

-47.83%

 

 

LPG FFA Middle East Gulf to East (WET)

Jun-24

$60.79

$61.57

-1.26%

-$0.78

$60.40

0.65%

$125.00

-51.36%

 

 

TC5 FFA Arabian Gulf to Japan (WET)

Jun-24

$34.98

$34.37

1.78%

$0.61

$47.58

-26.48%

$118.62

-70.51%

 

 

Supramax Timecharter (DRY)

Jun-24

$85.31

$88.43

-3.53%

-$3.12

$86.04

-0.85%

$138.01

-38.18%

 

 

Capesize Timecharter (DRY)

Jun-24

$9.88

$9.96

-0.81%

-$0.08

$9.54

3.56%

$16.58

-40.41%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

Cooling Degree Days

 

 

 

 

 

 

04/27/2024

Week Tot

Dev Norm

Dev L YR

Cum Tot

CumD Norm

CumD L YR

CumD Norm

CumD L YR

 

 

New England

0

0

0

0

0

-2

NA

NA

 

 

Middle Atlantic

0

0

0

0

0

-9

NA

NA

 

 

E N Central

0

0

0

1

0

-3

NA

NA

 

 

W N Central

0

-2

0

7

0

3

NA

NA

 

 

South Atlantic

15

-5

-6

149

-25

-90

-14.00%

-38.00%

 

 

E S Central

6

-1

6

40

-12

-7

NA

NA

 

 

W S Central

32

4

15

195

34

-17

21.00%

-8.00%

 

 

Mountain

9

-2

0

18

-26

-3

NA

NA

 

 

Pacific

0

-4

0

0

-18

0

NA

NA

 

 

United States

7

-3

1

54

-6

-21

NA

NA

 

 

 

 

Heating Degree Days

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

04/27/2024

Week Tot

Dev Norm

Dev L YR

Cum Tot

CumD Norm

CumD L YR

CumD Norm

CumD L YR

 

 

New England

139

24

24

5,493

-762

120

-12.00%

2.00%

 

 

Middle Atlantic

113

18

20

5,009

-642

142

-11.00%

3.00%

 

 

E N Central

109

11

-33

5,228

-977

-339

-16.00%

-6.00%

 

 

W N Central

88

0

-59

5,456

-1,038

-893

-16.00%

-14.00%

 

 

South Atlantic

45

14

7

2,426

-363

44

-13.00%

2.00%

 

 

E S Central

50

12

-18

3,055

-471

39

-13.00%

1.00%

 

 

W S Central

22

9

-15

2,053

-223

-28

-10.00%

-1.00%

 

 

Mountain

73

-13

-26

4,603

-281

-655

-6.00%

-12.00%

 

 

Pacific

66

5

29

2,868

-93

-497

-3.00%

-15.00%

 

 

United States

75

9

-4

3,812

-512

-202

-12.00%

-5.00%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gas * Power * NGL * Crude * Products * Vol * Freight * Spreads – Charts

 

 

 

 

 

Weather Forecast & Seasonal Outlook

 

 

To opt out of this email please follow this link.

Campbell Faulkner | OTC Global Holdings

Quality Data – Reliable Service – Affordable Price

5151 San Felipe Suite 2200
Houston, TX 77056
faulkner.c@otcgh.com
eoxlive.com/market-data

 

This email, any information contained herein and any files transmitted with it (collectively, the Material) are the sole property of OTC Global Holdings LP and its affiliates (OTCGH); are confidential, may be legally privileged and are intended solely for the use of the individual or entity to whom they are addressed. Unauthorized disclosure, copying or distribution of the Material, is strictly prohibited and the recipient shall not redistribute the Material in any form to a third party. Please notify the sender immediately by email if you have received this email by mistake, delete this email from your system and destroy any hard copies. OTCGH waives no privilege or confidentiality due to any mistaken transmission of this email.