Morning Report: Gas * Power * NGL * Crude * Products * Vols — Jun-01-2023

Jun 1, 2023

  

 

 

 

 

 

 

 

 

 

Prices as of 8:39 AM CST

 

 

 

 

 

 

 

Current Price

Previous Settle

% Change

Change

Volume

 

 

Natural Gas

$2.180

$2.266

-3.80%

-$0.086

46,336

 

 

WTI

$67.85

$68.09

-0.35%

-$0.24

134,450

 

 

Brent

$72.24

$72.66

-0.58%

-$0.42

12,121

 

 

ULSD

$2.248

$2.260

-0.50%

-$0.011

8,246

 

 

RBOB

$2.407

$2.560

-5.98%

-$0.153

12,255

 

 

 

 

Spreads

 

 

 

 

 

 

 

Current

Previous

% Change

Change

Contract

 

 

WTI-Brent

$4.24

$4.36

-2.75%

-$0.12

Aug-23

 

 

3:2:1 Crack

$29.20

$29.83

-2.11%

-$0.63

Jul-23

 

 

PJM West Spark

NA

NA

NA

NA

Jun-23

 

 

 

 

Baker Hughes Rig Count

 

 

 

 

 

 

 

Date

Count

Change

1 Year Chg.

1 Year Date

 

 

U.S.

05/26/23

711

-9

-16

05/27/22

 

 

Canada

05/26/23

87

2

-16

05/27/22

 

 

International

Apr

947

17

141

Apr

 

 

 

 

CFTC Net Positions

 

 

 

 

 

 

As of 5/16/2023

Open Interest

Total Net Long

Total Net Short

Diff

 

 

PJM West On Peak

104,099

103,713

103,848

-135

 

 

PJM West Off Peak

88,593

87,882

88,141

-259

 

 

Natural Gas Henry Hub

452,029

423,773

438,801

-15,028

 

 

WTI – Light Sweet Crude Futures

127,977

95,526

92,624

2,902

 

 

Brent Crude Last Day

142,564

133,882

135,988

-2,106

 

 

NYM Ethanol

35,049

34,616

34,615

1

 

 

Mt Belvieu LDH Propane Swap

146,547

145,395

146,197

-802

 

 

RBOB

306,848

285,236

289,860

-4,624

 

 

HSC Basis

553,444

548,873

544,297

4,576

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

EIA Lower 48 Natural Gas Storage

 

 

 

 

05/25/18

 

 

 

5/19/23

5/12/23

Net Change

% Change

5/20/22

% Change

5 Year Avg.

% Change

 

 

East

489

458

31

6.77%

325

50.46%

385

27.01%

 

 

Midwest

546

520

26

5.00%

391

39.64%

442

23.53%

 

 

Mountain

120

112

8

7.14%

109

10.09%

118

1.52%

 

 

Pacific

139

127

12

9.45%

190

-26.84%

226

-38.44%

 

 

South

1,042

1,023

19

1.86%

797

30.74%

875

19.11%

 

 

    Salt

294

290

4

1.38%

251

17.13%

277

6.29%

 

 

    Non_Salt

748

734

14

1.91%

546

37.00%

598

25.00%

 

 

Total

2,336

2,240

96

4.29%

1,812

28.92%

2,046

14.16%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Power Generation Additions/Retirements

 

 

  

 

Front Month Prices

 

 

 

 

 

 

 

 

 

 

 

 

 

Electricity

 

 

 

EOXLive Market Data

 

 

 

Contract

5/31/23

5/30/23

% Change

Change

5/2/23

% Change

5/31/22

% Change

 

 

PJM West On Peak

Jun-23

$38.72

$36.99

4.69%

$1.74

$39.55

-2.10%

$67.21

-42.39%

 

 

ERCOT North On Peak

Jun-23

$44.77

$43.50

2.91%

$1.27

$43.01

4.09%

$68.38

-34.53%

 

 

CAISO SP 15 On Peak

Jun-23

$40.29

$40.37

-0.19%

-$0.08

$48.10

-16.25%

$64.97

-37.98%

 

 

MISO Indiana On Peak

Jun-23

$45.43

$42.57

6.73%

$2.86

$42.89

5.92%

$69.06

-34.22%

 

 

NEISO Mass On Peak

Jun-23

$42.28

$42.90

-1.44%

-$0.62

$49.13

-13.94%

$59.75

-29.24%

 

 

WECC Mid C On Peak

Jun-23

$66.75

$66.00

1.14%

$0.75

$47.59

40.26%

$49.97

33.58%

 

 

NYISO Zone G On Peak

Jun-23

$35.42

$38.04

-6.89%

-$2.62

$42.97

-17.56%

$58.47

-39.42%

 

 

 

 

 

Natural Gas & Basis

 

 

 

EOXLive Market Data

 

 

 

Contract

5/31/23

5/30/23

% Change

Change

5/2/23

% Change

5/31/22

% Change

 

 

NYMEX Henry Hub

Jul-23

$2.260

$2.313

-2.29%

-$0.05

$2.42

-6.50%

$5.01

-54.91%

 

 

Houston Ship Channel

Jul-23

-$0.137

-$0.111

23.15%

-$0.03

-$0.18

-22.90%

-$0.16

-15.30%

 

 

Chicago

Jul-23

-$0.162

-$0.157

-2.66%

$0.00

-$0.18

-8.80%

-$0.24

-33.07%

 

 

Waha

Jul-23

-$0.852

-$0.849

-0.39%

$0.00

-$1.19

-28.24%

-$2.03

-57.96%

 

 

Algonquin

Jul-23

$1.622

$1.611

0.66%

$0.01

$2.46

-34.21%

-$0.22

-853.58%

 

 

Aeco

Jul-23

-$1.117

-$1.102

1.37%

-$0.02

-$1.36

-17.81%

-$1.54

-27.29%

 

 

Socal

Jul-23

$1.429

$1.430

-0.10%

$0.00

$1.48

-3.37%

$0.70

104.45%

 

 

 

 

 

Natural Gas Liquids

 

 

 

EOXLive Market Data

 

 

 

Contract

5/31/23

5/30/23

% Change

Change

5/2/23

% Change

5/31/22

% Change

 

 

Mt. Belvieu Propane LST

Jun-23

$0.527

$0.589

-10.58%

-$0.06

$0.67

-21.66%

$1.06

-50.39%

 

 

Mt. Belvieu Propane non LST

Jun-23

$0.526

$0.589

-10.74%

-$0.06

$0.67

-21.50%

$1.08

-51.29%

 

 

Mt. Belview Ethane

Jun-23

$0.200

$0.195

2.68%

$0.01

$0.20

-1.56%

$0.39

-48.34%

 

 

Mt. Belview Nat. Gasoline

Jun-23

$1.346

$1.391

-3.23%

-$0.04

$1.47

-8.71%

$1.89

-28.81%

 

 

Mt. Belvieu Butane LST

Jun-23

$0.644

$0.667

-3.40%

-$0.02

$0.76

-14.99%

$1.25

-48.57%

 

 

Conway Propane

Jun-23

$0.554

$0.571

-3.10%

-$0.02

$0.66

-15.79%

$1.06

-47.68%

 

 

Conway Nat. Gasoline

Jun-23

$1.462

$1.453

0.63%

$0.01

$1.50

-2.85%

$1.87

-21.71%

 

 

 

 

Crude Oil

 

 

 

EOXLive Market Data

 

 

 

Contract

5/31/23

5/30/23

% Change

Change

5/2/23

% Change

5/31/22

% Change

 

 

WTI

Jul-23

$68.09

$69.46

-2.01%

-$1.37

$71.55

-4.84%

$91.13

-25.28%

 

 

Brent

Jul-23

$72.69

$73.54

-1.17%

-$0.85

$75.32

-3.49%

$95.95

-24.24%

 

 

WCS

Jul-23

-$13.53

-$12.87

4.88%

-$0.66

-$13.51

0.14%

-$15.75

-14.08%

 

 

LLS

Jul-23

$71.35

$72.29

-1.32%

-$0.94

$73.32

-2.69%

$94.66

-24.62%

 

 

Mars

Jul-23

$68.03

$69.33

-1.91%

-$1.30

$69.43

-2.02%

$88.56

-23.18%

 

 

Sour

Jul-23

$67.47

$68.55

-1.59%

-$1.07

$69.85

-3.40%

$90.03

-25.06%

 

 

ESPO

Jul-23

$71.75

$73.43

-2.34%

-$1.68

$76.97

-6.78%

$93.00

-22.85%

 

 

 

 

Refined Products

 

 

 

EOXLive Market Data

 

 

 

Contract

5/31/23

5/30/23

% Change

Change

5/2/23

% Change

5/31/22

% Change

 

 

NY Heating Oil

Jun-23

$2.25

$2.28

-1.32%

-$0.03

$2.29

-1.92%

$3.14

-28.28%

 

 

NY Gasoline

Jun-23

$2.48

$2.57

-3.27%

-$0.08

$2.44

1.80%

$2.95

-15.89%

 

 

GC Gasoline

Jun-23

$2.38

$2.47

-3.41%

-$0.08

$2.34

1.88%

$2.85

-16.45%

 

 

GC Jet

Jun-23

$2.10

$2.11

-0.47%

-$0.01

$2.10

-0.10%

$2.83

-25.77%

 

 

Chicago Ethanol

Jun-23

$2.47

$2.44

0.98%

$0.02

$2.35

4.98%

$2.50

-1.24%

 

 

Rotterdam Gasoil

Jun-23

$619.19

$627.42

-1.31%

-$8.23

$619.66

-0.08%

$878.18

-29.49%

 

 

Singapore Jet Kero

Jun-23

$85.84

$86.32

-0.55%

-$0.47

$90.31

-4.95%

$119.97

-28.45%

 

 

 

 

Implied Volatilities

 

 

 

EOXLive Market Data

 

 

 

Contract

5/31/23

5/30/23

% Change

Change

5/2/23

% Change

5/31/22

% Change

 

 

Henry Hub Straddle

Jul-23

71.25%

70.68%

0.81%

0.57%

65.37%

8.99%

51.94%

37.18%

 

 

Algonquin Straddle

Jul-23

58.09%

77.13%

-24.69%

-19.04%

152.72%

-61.96%

56.78%

2.31%

 

 

Waha Straddle

Jul-23

99.25%

94.96%

4.52%

4.29%

116.42%

-14.75%

81.70%

21.48%

 

 

Chicago Straddle

Jul-23

68.12%

70.63%

-3.55%

-2.51%

70.35%

-3.17%

53.59%

27.11%

 

 

PJM West Straddle

Jul-23

76.00%

80.60%

-5.71%

-4.60%

81.03%

-6.21%

59.47%

27.80%

 

 

SP – 15 Straddle

Jul-23

196.54%

199.10%

-1.29%

-2.56%

157.22%

25.01%

63.26%

210.69%

 

 

Mid. C Straddle

Jul-23

274.62%

267.15%

2.80%

7.47%

159.38%

72.31%

91.26%

200.92%

 

 

 

 

Euro Gas and Power/LNG

 

 

EOXLive Market Data

 

 

 

Contract

5/31/23

5/30/23

% Change

Change

5/2/23

% Change

5/31/22

% Change

 

 

Dutch TTF

Jul-23

EUR 25.65

EUR 25.50

0.57%

EUR 0.15

EUR 37.92

-32.37%

EUR 74.36

-65.51%

 

 

NBP

Jul-23

GBP 60.57

GBP 58.50

3.54%

GBP 2.07

GBP 85.59

-29.23%

GBP 171.53

-64.69%

 

 

German Base

Jul-23

EUR 80.00

EUR 77.11

3.75%

EUR 2.89

EUR 101.00

-20.79%

EUR 199.56

-59.91%

 

 

UK Base

Jul-23

GBP 76.63

GBP 71.71

6.86%

GBP 4.92

GBP 102.44

-25.20%

GBP 165.83

-53.79%

 

 

French Base

Jul-23

EUR 81.43

EUR 76.10

7.01%

EUR 5.33

EUR 111.18

-26.76%

EUR 182.74

-55.44%

 

 

Italian Base

Jul-23

EUR 97.63

EUR 94.94

2.83%

EUR 2.69

EUR 136.57

-28.52%

EUR 198.70

-50.87%

 

 

JKM LNG

Jul-23

$11.22

$10.85

3.41%

$0.37

$10.93

2.61%

$23.98

-53.22%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

Cooling Degree Days

 

 

 

 

 

 

05/27/2023

Week Tot

Dev Norm

Dev L YR

Cum Tot

CumD Norm

CumD L YR

CumD Norm

CumD L YR

 

 

New England

0

-2

-15

5

1

-24

NA

NA

 

 

Middle Atlantic

0

-9

-21

14

-3

-16

NA

NA

 

 

E N Central

3

-13

-4

12

-28

-51

NA

NA

 

 

W N Central

17

-4

16

63

5

-12

NA

NA

 

 

South Atlantic

37

-12

-31

392

64

-37

20.00%

-9.00%

 

 

E S Central

33

-7

-17

186

21

-44

13.00%

-19.00%

 

 

W S Central

57

-12

-1

445

63

-105

16.00%

-19.00%

 

 

Mountain

25

-3

-5

95

-30

-45

-24.00%

-33.00%

 

 

Pacific

3

-7

-7

21

-28

-2

NA

NA

 

 

United States

19

-9

-11

152

9

-37

6.00%

-20.00%

 

 

 

 

Heating Degree Days

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

05/27/2023

Week Tot

Dev Norm

Dev L YR

Cum Tot

CumD Norm

CumD L YR

CumD Norm

CumD L YR

 

 

New England

53

7

27

5,649

-876

-259

-13.00%

-4.00%

 

 

Middle Atlantic

38

4

20

5,043

-815

-161

-14.00%

-3.00%

 

 

E N Central

38

-1

-1

5,796

-634

-83

-10.00%

-1.00%

 

 

W N Central

19

-15

-48

6,515

-171

179

-3.00%

3.00%

 

 

South Atlantic

14

6

10

2,424

-419

10

-15.00%

0.00%

 

 

E S Central

10

-1

4

3,090

-503

-41

-14.00%

-1.00%

 

 

W S Central

2

1

-5

2,100

-186

155

-8.00%

8.00%

 

 

Mountain

24

-17

-31

5,441

333

738

7.00%

16.00%

 

 

Pacific

31

-3

10

3,545

410

581

13.00%

20.00%

 

 

United States

25

-1

2

4,155

-318

118

-7.00%

3.00%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

Weather Forecast & Seasonal Outlook

 

Tropical Outlook

 

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