Morning Report: Gas * Power * NGL * Crude * Products * Vols — Jun-02-2023

Jun 2, 2023

  

 

 

 

 

 

 

 

 

 

Prices as of 8:59 AM CST

 

 

 

 

 

 

 

Current Price

Previous Settle

% Change

Change

Volume

 

 

Natural Gas

$2.217

$2.158

2.73%

$0.059

51,739

 

 

WTI

$72.00

$70.10

2.71%

$1.90

125,663

 

 

Brent

$76.23

$72.68

4.88%

$3.55

11,732

 

 

ULSD

$2.375

$2.315

2.62%

$0.061

12,665

 

 

RBOB

$2.507

$2.436

2.92%

$0.071

10,426

 

 

 

 

Spreads

 

 

 

 

 

 

 

Current

Previous

% Change

Change

Contract

 

 

WTI-Brent

$4.17

$4.08

2.21%

$0.09

Aug-23

 

 

3:2:1 Crack

$29.60

$28.69

3.17%

$0.91

Jul-23

 

 

PJM West Spark

$45.35

$46.40

-2.25%

-$1.04

Jul-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

 

 

 

 

06/01/18

 

 

 

5/26/23

5/19/23

Net Change

% Change

5/27/22

% Change

5 Year Avg.

% Change

 

 

East

522

489

33

6.75%

357

46.22%

414

26.03%

 

 

Midwest

577

546

31

5.68%

420

37.38%

471

22.61%

 

 

Mountain

127

120

7

5.83%

113

12.39%

125

1.44%

 

 

Pacific

151

139

12

8.63%

195

-22.56%

236

-36.02%

 

 

South

1,070

1,042

28

2.69%

817

30.97%

900

18.86%

 

 

    Salt

304

294

10

3.40%

248

22.58%

280

8.42%

 

 

    Non_Salt

766

748

18

2.41%

569

34.62%

620

23.59%

 

 

Total

2,446

2,336

110

4.71%

1,902

28.60%

2,146

13.96%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Power Generation Additions/Retirements

 

 

  

 

Front Month Prices

 

 

 

 

 

 

 

 

 

 

 

 

 

Electricity

 

 

 

EOXLive Market Data

 

 

 

Contract

6/1/23

5/31/23

% Change

Change

5/3/23

% Change

6/1/22

% Change

 

 

PJM West On Peak

Jul-23

$50.10

$51.02

-1.80%

-$0.92

$55.73

-10.10%

$83.93

-40.31%

 

 

ERCOT North On Peak

Jul-23

$63.03

$64.16

-1.76%

-$1.13

$64.07

-1.61%

$87.50

-27.96%

 

 

CAISO SP 15 On Peak

Jul-23

$85.56

$86.16

-0.70%

-$0.60

$84.52

1.23%

$122.06

-29.90%

 

 

MISO Indiana On Peak

Jul-23

$57.00

$57.77

-1.32%

-$0.76

$61.13

-6.75%

$87.43

-34.80%

 

 

NEISO Mass On Peak

Jul-23

$62.99

$65.77

-4.23%

-$2.78

$78.56

-19.82%

$73.90

-14.76%

 

 

WECC Mid C On Peak

Jul-23

$142.91

$147.62

-3.19%

-$4.71

$109.27

30.78%

$135.42

5.53%

 

 

NYISO Zone G On Peak

Jul-23

$49.81

$49.79

0.03%

$0.02

$65.25

-23.66%

$69.59

-28.42%

 

 

 

 

 

Natural Gas & Basis

 

 

 

EOXLive Market Data

 

 

 

Contract

6/1/23

5/31/23

% Change

Change

5/3/23

% Change

6/1/22

% Change

 

 

NYMEX Henry Hub

Jul-23

$2.158

$2.260

-4.51%

-$0.10

$2.36

-8.56%

$5.25

-58.91%

 

 

Houston Ship Channel

Jul-23

-$0.142

-$0.137

3.95%

-$0.01

-$0.16

-12.34%

-$0.16

-13.09%

 

 

Chicago

Jul-23

-$0.150

-$0.162

7.66%

$0.01

-$0.17

-12.62%

-$0.25

-39.68%

 

 

Waha

Jul-23

-$0.822

-$0.852

-3.52%

$0.03

-$1.20

-31.56%

-$2.09

-60.60%

 

 

Algonquin

Jul-23

$1.628

$1.622

0.37%

$0.01

$2.47

-33.99%

-$0.22

-844.94%

 

 

Aeco

Jul-23

-$1.020

-$1.117

-8.73%

$0.10

-$1.33

-23.33%

-$1.58

-35.30%

 

 

Socal

Jul-23

$1.237

$1.429

-13.41%

-$0.19

$1.15

7.27%

$0.69

78.11%

 

 

 

 

 

Natural Gas Liquids

 

 

 

EOXLive Market Data

 

 

 

Contract

6/1/23

5/31/23

% Change

Change

5/3/23

% Change

6/1/22

% Change

 

 

Mt. Belvieu Propane LST

Jul-23

$0.568

$0.561

1.25%

$0.01

$0.65

-13.28%

$1.05

-45.87%

 

 

Mt. Belvieu Propane non LST

Jul-23

$0.555

$0.567

-2.17%

-$0.01

$0.66

-15.88%

$1.07

-47.91%

 

 

Mt. Belview Ethane

Jul-23

$0.197

$0.195

1.01%

$0.00

$0.20

0.02%

$0.38

-48.37%

 

 

Mt. Belview Nat. Gasoline

Jul-23

$1.332

$1.332

0.06%

$0.00

$1.36

-2.10%

$1.90

-29.77%

 

 

Mt. Belvieu Butane LST

Jul-23

$0.638

$0.658

-3.05%

-$0.02

$0.72

-12.01%

$1.21

-47.12%

 

 

Conway Propane

Jul-23

$0.556

$0.559

-0.50%

$0.00

$0.64

-13.38%

$1.05

-46.87%

 

 

Conway Nat. Gasoline

Jul-23

$1.399

$1.391

0.57%

$0.01

$1.38

1.47%

$1.89

-25.87%

 

 

 

 

Crude Oil

 

 

 

EOXLive Market Data

 

 

 

Contract

6/1/23

5/31/23

% Change

Change

5/3/23

% Change

6/1/22

% Change

 

 

WTI

Jul-23

$68.09

$68.09

0.00%

$0.00

$68.55

-0.67%

$92.11

-26.08%

 

 

Brent

Jul-23

$72.69

$72.69

0.00%

$0.00

$72.33

0.50%

$96.77

-24.88%

 

 

WCS

Jul-23

-$14.80

-$13.53

8.54%

-$1.26

-$14.86

-0.43%

-$15.75

-6.06%

 

 

LLS

Jul-23

$72.50

$71.35

1.58%

$1.15

$70.00

3.57%

$93.87

-22.77%

 

 

Mars

Jul-23

$69.10

$68.03

1.55%

$1.07

$66.36

4.13%

$89.42

-22.73%

 

 

Sour

Jul-23

$69.43

$67.47

2.82%

$1.96

$66.67

4.13%

$91.17

-23.85%

 

 

ESPO

Jul-23

$74.03

$71.75

3.08%

$2.28

$70.90

4.42%

$92.30

-19.80%

 

 

 

 

Refined Products

 

 

 

EOXLive Market Data

 

 

 

Contract

6/1/23

5/31/23

% Change

Change

5/3/23

% Change

6/1/22

% Change

 

 

NY Heating Oil

Jul-23

$2.32

$2.24

3.21%

$0.07

$2.22

4.47%

$3.10

-25.20%

 

 

NY Gasoline

Jul-23

$2.43

$2.43

0.04%

$0.00

$2.28

6.90%

$2.80

-13.04%

 

 

GC Gasoline

Jul-23

$2.33

$2.33

0.04%

$0.00

$2.18

7.21%

$2.70

-13.52%

 

 

GC Jet

Jul-23

$2.16

$2.10

3.14%

$0.07

$2.03

6.49%

$2.91

-25.50%

 

 

Chicago Ethanol

Jul-23

$2.40

$2.40

0.38%

$0.01

$2.31

4.11%

$2.52

-4.49%

 

 

Rotterdam Gasoil

Jul-23

$632.30

$612.97

3.15%

$19.32

$601.28

5.16%

$855.23

-26.07%

 

 

Singapore Jet Kero

Jul-23

$85.18

$86.05

-1.01%

-$0.87

$85.10

0.10%

$113.27

-24.80%

 

 

 

 

Implied Volatilities

 

 

 

EOXLive Market Data

 

 

 

Contract

6/1/23

5/31/23

% Change

Change

5/3/23

% Change

6/1/22

% Change

 

 

Henry Hub Straddle

Jul-23

74.29%

71.25%

4.27%

3.04%

65.06%

14.19%

43.57%

70.51%

 

 

Algonquin Straddle

Jul-23

63.26%

58.09%

8.90%

5.17%

148.16%

-57.30%

47.99%

31.82%

 

 

Waha Straddle

Jul-23

102.48%

99.25%

3.25%

3.23%

121.83%

-15.88%

75.58%

35.59%

 

 

Chicago Straddle

Jul-23

73.32%

68.12%

7.63%

5.20%

78.70%

-6.84%

45.82%

60.02%

 

 

PJM West Straddle

Jul-23

79.28%

76.00%

4.32%

3.28%

82.99%

-4.47%

59.48%

33.29%

 

 

SP – 15 Straddle

Jul-23

200.23%

196.54%

1.88%

3.69%

136.84%

46.32%

63.34%

216.12%

 

 

Mid. C Straddle

Jul-23

285.43%

274.62%

3.94%

10.81%

156.19%

82.75%

91.39%

212.32%

 

 

 

 

Euro Gas and Power/LNG

 

 

EOXLive Market Data

 

 

 

Contract

6/1/23

5/31/23

% Change

Change

5/3/23

% Change

6/1/22

% Change

 

 

Dutch TTF

Jul-23

EUR 23.22

EUR 25.65

-9.46%

-EUR 2.43

EUR 37.31

-37.76%

EUR 74.25

-68.73%

 

 

NBP

Jul-23

GBP 54.75

GBP 60.57

-9.61%

-GBP 5.82

GBP 84.71

-35.37%

GBP 172.61

-68.28%

 

 

German Base

Jul-23

EUR 76.42

EUR 80.00

-4.48%

-EUR 3.58

EUR 98.25

-22.22%

EUR 203.22

-62.40%

 

 

UK Base

Jul-23

GBP 68.67

GBP 76.63

-10.39%

-GBP 7.96

GBP 92.90

-26.09%

GBP 166.66

-58.80%

 

 

French Base

Jul-23

EUR 72.55

EUR 81.43

-10.90%

-EUR 8.88

EUR 103.67

-30.01%

EUR 185.77

-60.95%

 

 

Italian Base

Jul-23

EUR 93.92

EUR 97.63

-3.80%

-EUR 3.71

EUR 136.87

-31.38%

EUR 190.67

-50.74%

 

 

JKM LNG

Jul-23

$8.55

$9.55

-10.45%

-$1.00

$10.83

-21.00%

$23.92

-64.25%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

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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