Morning Report: Gas * Power * NGL * Crude * Products * Vols — Jun-05-2023

Jun 5, 2023

  

 

 

 

 

 

 

 

 

 

Prices as of 10:02 AM CST

 

 

 

 

 

 

 

Current Price

Previous Settle

% Change

Change

Volume

 

 

Natural Gas

$2.261

$2.172

4.10%

$0.089

64,937

 

 

WTI

$72.50

$71.74

1.06%

$0.76

246,039

 

 

Brent

$77.02

$76.13

1.17%

$0.89

21,093

 

 

ULSD

$2.372

$2.357

0.65%

$0.015

18,474

 

 

RBOB

$2.529

$2.501

1.12%

$0.028

28,468

 

 

 

 

Spreads

 

 

 

 

 

 

 

Current

Previous

% Change

Change

Contract

 

 

WTI-Brent

$4.41

$4.29

2.80%

$0.12

Aug-23

 

 

3:2:1 Crack

$29.58

$29.39

0.67%

$0.20

Jul-23

 

 

PJM West Spark

$44.88

$45.45

-1.26%

-$0.57

Jul-23

 

 

 

 

Baker Hughes Rig Count

 

 

 

 

 

 

 

Date

Count

Change

1 Year Chg.

1 Year Date

 

 

U.S.

06/02/23

696

-15

-31

06/03/22

 

 

Canada

06/02/23

97

10

-20

06/03/22

 

 

International

May

965

18

148

May

 

 

 

 

CFTC Net Positions

 

 

 

 

 

 

As of 5/30/2023

Open Interest

Total Net Long

Total Net Short

Diff

 

 

PJM West On Peak

111,518

111,182

111,186

-4

 

 

PJM West Off Peak

91,883

91,135

91,318

-183

 

 

Natural Gas Henry Hub

442,879

415,758

429,956

-14,198

 

 

WTI – Light Sweet Crude Futures

140,880

108,008

104,997

3,011

 

 

Brent Crude Last Day

153,164

141,002

145,384

-4,382

 

 

NYM Ethanol

42,166

41,913

41,689

224

 

 

Mt Belvieu LDH Propane Swap

154,041

153,097

153,792

-695

 

 

RBOB

305,313

285,011

290,254

-5,243

 

 

HSC Basis

580,723

573,698

567,708

5,990

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

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

6/2/23

6/1/23

% Change

Change

5/4/23

% Change

6/2/22

% Change

 

 

PJM West On Peak

Jul-23

$49.73

$50.10

-0.73%

-$0.37

$54.32

-8.45%

$86.39

-42.43%

 

 

ERCOT North On Peak

Jul-23

$63.98

$63.03

1.49%

$0.94

$65.63

-2.52%

$92.60

-30.91%

 

 

CAISO SP 15 On Peak

Jul-23

$86.23

$85.56

0.78%

$0.67

$85.31

1.08%

$123.76

-30.32%

 

 

MISO Indiana On Peak

Jul-23

$56.73

$57.00

-0.48%

-$0.27

$59.54

-4.73%

$89.89

-36.89%

 

 

NEISO Mass On Peak

Jul-23

$63.12

$62.99

0.21%

$0.13

$79.19

-20.29%

$75.27

-16.14%

 

 

WECC Mid C On Peak

Jul-23

$154.99

$142.91

8.45%

$12.08

$110.57

40.17%

$140.73

10.13%

 

 

NYISO Zone G On Peak

Jul-23

$49.62

$49.81

-0.38%

-$0.19

$65.09

-23.77%

$73.14

-32.16%

 

 

 

 

 

Natural Gas & Basis

 

 

 

EOXLive Market Data

 

 

 

Contract

6/2/23

6/1/23

% Change

Change

5/4/23

% Change

6/2/22

% Change

 

 

NYMEX Henry Hub

Jul-23

$2.172

$2.158

0.65%

$0.01

$2.30

-5.44%

$5.28

-58.82%

 

 

Houston Ship Channel

Jul-23

-$0.161

-$0.142

13.23%

-$0.02

-$0.17

-3.01%

-$0.16

3.27%

 

 

Chicago

Jul-23

-$0.150

-$0.150

0.00%

$0.00

-$0.18

-18.06%

-$0.24

-37.10%

 

 

Waha

Jul-23

-$0.878

-$0.822

-6.80%

-$0.06

-$1.21

-27.25%

-$2.12

-58.62%

 

 

Algonquin

Jul-23

$1.483

$1.628

-8.90%

-$0.14

$2.47

-40.01%

-$0.21

-806.48%

 

 

Aeco

Jul-23

-$1.032

-$1.020

1.26%

-$0.01

-$1.28

-19.09%

-$1.49

-30.71%

 

 

Socal

Jul-23

$1.288

$1.237

4.14%

$0.05

$1.33

-2.90%

$0.64

100.67%

 

 

 

 

 

Natural Gas Liquids

 

 

 

EOXLive Market Data

 

 

 

Contract

6/2/23

6/1/23

% Change

Change

5/4/23

% Change

6/2/22

% Change

 

 

Mt. Belvieu Propane LST

Jul-23

$0.580

$0.568

2.22%

$0.01

$0.68

-14.08%

$1.04

-44.14%

 

 

Mt. Belvieu Propane non LST

Jul-23

$0.588

$0.555

5.91%

$0.03

$0.67

-12.31%

$1.09

-45.93%

 

 

Mt. Belview Ethane

Jul-23

$0.194

$0.197

-1.38%

$0.00

$0.20

-4.59%

$0.36

-46.24%

 

 

Mt. Belview Nat. Gasoline

Jul-23

$1.369

$1.332

2.73%

$0.04

$1.35

1.62%

$1.87

-26.73%

 

 

Mt. Belvieu Butane LST

Jul-23

$0.655

$0.638

2.71%

$0.02

$0.73

-10.34%

$1.22

-46.51%

 

 

Conway Propane

Jul-23

$0.580

$0.556

4.33%

$0.02

$0.67

-12.87%

$1.04

-44.21%

 

 

Conway Nat. Gasoline

Jul-23

$1.433

$1.399

2.42%

$0.03

$1.39

3.11%

$1.93

-25.84%

 

 

 

 

Crude Oil

 

 

 

EOXLive Market Data

 

 

 

Contract

6/2/23

6/1/23

% Change

Change

5/4/23

% Change

6/2/22

% Change

 

 

WTI

Jul-23

$71.74

$70.10

2.29%

$1.64

$68.51

4.71%

$93.51

-23.28%

 

 

Brent

Jul-23

$76.25

$72.68

4.68%

$3.57

$72.50

5.17%

$98.18

-22.34%

 

 

WCS

Jul-23

-$13.44

-$14.80

-10.06%

$1.35

-$15.03

-10.58%

-$14.86

-9.55%

 

 

LLS

Jul-23

$74.13

$72.50

2.21%

$1.64

$70.29

5.47%

$94.81

-21.81%

 

 

Mars

Jul-23

$70.96

$69.10

2.62%

$1.86

$66.65

6.46%

$91.34

-22.31%

 

 

Sour

Jul-23

$71.39

$69.43

2.76%

$1.97

$66.74

6.98%

$92.49

-22.81%

 

 

ESPO

Jul-23

$74.58

$74.03

0.74%

$0.55

$71.27

4.64%

$94.33

-20.94%

 

 

 

 

Refined Products

 

 

 

EOXLive Market Data

 

 

 

Contract

6/2/23

6/1/23

% Change

Change

5/4/23

% Change

6/2/22

% Change

 

 

NY Heating Oil

Jul-23

$2.36

$2.32

1.81%

$0.04

$2.24

5.36%

$3.10

-23.97%

 

 

NY Gasoline

Jul-23

$2.49

$2.43

2.47%

$0.06

$2.29

9.15%

$2.88

-13.43%

 

 

GC Gasoline

Jul-23

$2.39

$2.33

2.57%

$0.06

$2.18

9.57%

$2.78

-13.92%

 

 

GC Jet

Jul-23

$2.19

$2.16

1.02%

$0.02

$2.06

6.17%

$2.98

-26.54%

 

 

Chicago Ethanol

Jul-23

$2.42

$2.40

0.79%

$0.02

$2.30

5.53%

$2.61

-7.23%

 

 

Rotterdam Gasoil

Jul-23

$644.21

$632.30

1.88%

$11.92

$605.03

6.48%

$848.68

-24.09%

 

 

Singapore Jet Kero

Jul-23

$90.85

$85.18

6.66%

$5.67

$85.65

6.07%

$110.39

-17.70%

 

 

 

 

Implied Volatilities

 

 

 

EOXLive Market Data

 

 

 

Contract

6/2/23

6/1/23

% Change

Change

5/4/23

% Change

6/2/22

% Change

 

 

Henry Hub Straddle

Jul-23

69.05%

74.29%

-7.05%

-5.24%

67.07%

2.95%

47.18%

46.35%

 

 

Algonquin Straddle

Jul-23

55.54%

63.26%

-12.20%

-7.72%

145.53%

-61.84%

56.65%

-1.96%

 

 

Waha Straddle

Jul-23

92.96%

102.48%

-9.29%

-9.52%

135.77%

-31.53%

89.35%

4.04%

 

 

Chicago Straddle

Jul-23

67.92%

73.32%

-7.36%

-5.40%

72.55%

-6.38%

49.91%

36.08%

 

 

PJM West Straddle

Jul-23

77.39%

79.28%

-2.38%

-1.89%

76.34%

1.38%

57.17%

35.37%

 

 

SP – 15 Straddle

Jul-23

236.44%

200.23%

18.08%

36.21%

148.10%

59.65%

71.53%

230.55%

 

 

Mid. C Straddle

Jul-23

289.95%

285.43%

1.58%

4.52%

156.02%

85.84%

94.32%

207.41%

 

 

 

 

Euro Gas and Power/LNG

 

 

EOXLive Market Data

 

 

 

Contract

6/2/23

6/1/23

% Change

Change

5/4/23

% Change

6/2/22

% Change

 

 

Dutch TTF

Jul-23

EUR 23.52

EUR 23.22

1.31%

EUR 0.31

EUR 36.20

-35.01%

EUR 75.39

-68.79%

 

 

NBP

Jul-23

GBP 54.02

GBP 54.75

-1.33%

-GBP 0.73

GBP 80.42

-32.83%

GBP 177.27

-69.53%

 

 

German Base

Jul-23

EUR 76.35

EUR 76.42

-0.09%

-EUR 0.07

EUR 96.18

-20.62%

EUR 205.75

-62.89%

 

 

UK Base

Jul-23

GBP 69.72

GBP 68.67

1.54%

GBP 1.06

GBP 91.17

-23.52%

GBP 165.23

-57.80%

 

 

French Base

Jul-23

EUR 75.32

EUR 72.55

3.81%

EUR 2.76

EUR 100.29

-24.90%

EUR 187.09

-59.74%

 

 

Italian Base

Jul-23

EUR 95.75

EUR 93.92

1.95%

EUR 1.83

EUR 130.06

-26.38%

EUR 196.26

-51.21%

 

 

JKM LNG

Jul-23

$9.25

$8.55

8.13%

$0.69

$10.23

-9.57%

$22.82

-59.48%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

Cooling Degree Days

 

 

 

 

 

 

06/03/2023

Week Tot

Dev Norm

Dev L YR

Cum Tot

CumD Norm

CumD L YR

CumD Norm

CumD L YR

 

 

New England

13

9

-1

17

9

-24

NA

NA

 

 

Middle Atlantic

16

3

-16

30

1

-32

NA

NA

 

 

E N Central

44

23

9

57

-4

-42

NA

NA

 

 

W N Central

51

23

22

114

28

10

NA

NA

 

 

South Atlantic

46

-11

-30

438

53

-67

14.00%

-13.00%

 

 

E S Central

48

-1

-13

234

20

-58

9.00%

-20.00%

 

 

W S Central

76

-4

-23

521

59

-128

13.00%

-20.00%

 

 

Mountain

22

-13

-7

117

-43

-52

-27.00%

-31.00%

 

 

Pacific

0

-14

-5

22

-41

-7

NA

NA

 

 

United States

35

0

-9

187

9

-47

5.00%

-20.00%

 

 

 

 

Heating Degree Days

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

06/03/2023

Week Tot

Dev Norm

Dev L YR

Cum Tot

CumD Norm

CumD L YR

CumD Norm

CumD L YR

 

 

New England

28

-6

9

5,677

-881

-250

-13.00%

-4.00%

 

 

Middle Atlantic

9

-15

7

5,052

-829

-154

-14.00%

-3.00%

 

 

E N Central

5

-23

-6

5,801

-657

-89

-10.00%

-1.00%

 

 

W N Central

3

-22

-16

6,518

-193

163

-3.00%

3.00%

 

 

South Atlantic

6

1

5

2,429

-419

16

-15.00%

1.00%

 

 

E S Central

6

-1

5

3,097

-503

-37

-14.00%

-1.00%

 

 

W S Central

0

-1

0

2,100

-186

154

-8.00%

8.00%

 

 

Mountain

23

-10

-18

5,464

324

720

6.00%

15.00%

 

 

Pacific

37

9

11

3,582

418

592

13.00%

20.00%

 

 

United States

12

-7

1

4,168

-325

119

-7.00%

3.00%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

Weather Forecast & Seasonal Outlook

 

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