Morning Report: Gas * Power * NGL * Crude * Products * Vols — Jun-12-2023

Jun 12, 2023

  

 

 

 

 

 

 

 

 

 

Prices as of 10:00 AM CST

 

 

 

 

 

 

 

Current Price

Previous Settle

% Change

Change

Volume

 

 

Natural Gas

$2.232

$2.254

-0.98%

-$0.022

71,810

 

 

WTI

$67.37

$70.17

-3.99%

-$2.80

225,474

 

 

Brent

$72.24

$74.79

-3.41%

-$2.55

20,383

 

 

ULSD

$2.318

$2.361

-1.83%

-$0.043

18,811

 

 

RBOB

$2.497

$2.593

-3.72%

-$0.096

22,912

 

 

 

 

Spreads

 

 

 

 

 

 

 

Current

Previous

% Change

Change

Contract

 

 

WTI-Brent

$4.67

$4.46

4.71%

$0.21

Aug-23

 

 

3:2:1 Crack

$32.13

$32.44

-0.97%

-$0.32

Jul-23

 

 

PJM West Spark

$45.80

$48.23

-5.03%

-$2.43

Jul-23

 

 

 

 

Baker Hughes Rig Count

 

 

 

 

 

 

 

Date

Count

Change

1 Year Chg.

1 Year Date

 

 

U.S.

06/09/23

695

-1

-38

06/10/22

 

 

Canada

06/09/23

136

39

-5

06/10/22

 

 

International

May

965

18

148

May

 

 

 

 

CFTC Net Positions

 

 

 

 

 

 

As of 6/6/2023

Open Interest

Total Net Long

Total Net Short

Diff

 

 

PJM West On Peak

107,827

107,473

107,553

-80

 

 

PJM West Off Peak

89,540

88,897

88,963

-66

 

 

Natural Gas Henry Hub

444,243

415,939

431,829

-15,890

 

 

WTI – Light Sweet Crude Futures

263,093

197,951

193,375

4,576

 

 

Brent Crude Last Day

139,358

129,564

130,424

-860

 

 

NYM Ethanol

34,909

34,642

34,451

191

 

 

Mt Belvieu LDH Propane Swap

146,119

145,079

145,698

-619

 

 

RBOB

348,574

331,135

336,064

-4,929

 

 

HSC Basis

549,105

543,125

535,865

7,260

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

EIA Lower 48 Natural Gas Storage

 

 

 

 

06/08/18

 

 

 

6/2/23

5/26/23

Net Change

% Change

6/3/22

% Change

5 Year Avg.

% Change

 

 

East

552

522

30

5.75%

387

42.64%

442

24.77%

 

 

Midwest

604

577

27

4.68%

445

35.73%

499

21.04%

 

 

Mountain

137

127

10

7.87%

118

16.10%

132

3.47%

 

 

Pacific

164

151

13

8.61%

206

-20.39%

246

-33.28%

 

 

South

1,093

1,070

23

2.15%

843

29.66%

924

18.26%

 

 

    Salt

319

304

15

4.93%

251

27.09%

284

12.48%

 

 

    Non_Salt

774

766

8

1.04%

593

30.52%

641

20.79%

 

 

Total

2,550

2,446

104

4.25%

1,999

27.56%

2,244

13.66%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Power Generation Additions/Retirements

 

 

  

 

Front Month Prices

 

 

 

 

 

 

 

 

 

 

 

 

 

Electricity

 

 

 

EOXLive Market Data

 

 

 

Contract

6/9/23

6/8/23

% Change

Change

5/11/23

% Change

6/9/22

% Change

 

 

PJM West On Peak

Jul-23

$50.58

$53.05

-4.66%

-$2.47

$55.76

-9.29%

$87.70

-42.33%

 

 

ERCOT North On Peak

Jul-23

$66.64

$70.43

-5.38%

-$3.79

$66.38

0.39%

$89.62

-25.64%

 

 

CAISO SP 15 On Peak

Jul-23

$87.03

$86.47

0.65%

$0.56

$88.40

-1.55%

$124.27

-29.97%

 

 

MISO Indiana On Peak

Jul-23

$57.36

$60.25

-4.80%

-$2.89

$60.76

-5.58%

$91.29

-37.16%

 

 

NEISO Mass On Peak

Jul-23

$67.66

$70.72

-4.33%

-$3.06

$78.15

-13.43%

$76.38

-11.41%

 

 

WECC Mid C On Peak

Jul-23

$150.96

$159.05

-5.09%

-$8.10

$135.05

11.78%

$148.39

1.73%

 

 

NYISO Zone G On Peak

Jul-23

$54.02

$56.88

-5.03%

-$2.86

$62.91

-14.13%

$73.43

-26.43%

 

 

 

 

 

Natural Gas & Basis

 

 

 

EOXLive Market Data

 

 

 

Contract

6/9/23

6/8/23

% Change

Change

5/11/23

% Change

6/9/22

% Change

 

 

NYMEX Henry Hub

Jul-23

$2.254

$2.352

-4.17%

-$0.10

$2.35

-3.88%

$5.99

-62.34%

 

 

Houston Ship Channel

Jul-23

-$0.068

-$0.062

9.81%

-$0.01

-$0.19

-63.26%

-$0.22

-69.63%

 

 

Chicago

Jul-23

-$0.145

-$0.161

11.33%

$0.02

-$0.24

-38.85%

-$0.29

-50.68%

 

 

Waha

Jul-23

-$0.684

-$0.701

-2.31%

$0.02

-$1.22

-43.86%

-$2.67

-74.36%

 

 

Algonquin

Jul-23

$1.574

$1.499

5.01%

$0.08

$2.08

-24.20%

-$0.25

-722.09%

 

 

Aeco

Jul-23

-$1.025

-$1.043

-1.69%

$0.02

-$1.26

-18.55%

-$1.56

-34.43%

 

 

Socal

Jul-23

$1.898

$1.616

17.48%

$0.28

$1.07

77.61%

$0.62

207.90%

 

 

 

 

 

Natural Gas Liquids

 

 

 

EOXLive Market Data

 

 

 

Contract

6/9/23

6/8/23

% Change

Change

5/11/23

% Change

6/9/22

% Change

 

 

Mt. Belvieu Propane LST

Jul-23

$0.587

$0.597

-1.64%

-$0.01

$0.67

-12.96%

$1.08

-45.68%

 

 

Mt. Belvieu Propane non LST

Jul-23

$0.581

$0.611

-4.94%

-$0.03

$0.67

-13.71%

$1.07

-45.87%

 

 

Mt. Belview Ethane

Jul-23

$0.195

$0.196

-0.45%

$0.00

$0.19

1.31%

$0.36

-45.81%

 

 

Mt. Belview Nat. Gasoline

Jul-23

$1.356

$1.392

-2.55%

-$0.04

$1.42

-4.35%

$1.97

-31.11%

 

 

Mt. Belvieu Butane LST

Jul-23

$0.605

$0.632

-4.25%

-$0.03

$0.74

-18.25%

$1.24

-51.40%

 

 

Conway Propane

Jul-23

$0.576

$0.592

-2.71%

-$0.02

$0.67

-14.31%

$1.08

-46.44%

 

 

Conway Nat. Gasoline

Jul-23

$1.425

$1.456

-2.14%

-$0.03

$1.44

-0.72%

$1.97

-27.77%

 

 

 

 

Crude Oil

 

 

 

EOXLive Market Data

 

 

 

Contract

6/9/23

6/8/23

% Change

Change

5/11/23

% Change

6/9/22

% Change

 

 

WTI

Aug-23

$70.33

$71.44

-1.58%

-$1.11

$70.71

-0.54%

$97.62

-27.96%

 

 

Brent

Aug-23

$74.79

$75.96

-1.56%

-$1.17

$74.76

0.04%

$102.44

-26.99%

 

 

WCS

Aug-23

-$11.87

-$11.85

0.10%

-$0.01

-$13.34

-11.06%

-$16.60

-28.52%

 

 

LLS

Aug-23

$67.75

$73.53

-8.53%

-$5.78

$73.01

-7.20%

$97.16

-30.26%

 

 

Mars

Aug-23

$65.31

$70.58

-8.08%

-$5.28

$69.27

-5.72%

$94.41

-30.83%

 

 

Sour

Aug-23

$70.43

$71.24

-1.16%

-$0.81

$69.86

0.81%

$94.97

-25.85%

 

 

ESPO

Aug-23

$73.98

$73.82

0.22%

$0.16

$73.94

0.06%

$96.67

-23.47%

 

 

 

 

Refined Products

 

 

 

EOXLive Market Data

 

 

 

Contract

6/9/23

6/8/23

% Change

Change

5/11/23

% Change

6/9/22

% Change

 

 

NY Heating Oil

Jul-23

$2.36

$2.39

-0.96%

-$0.02

$2.35

0.55%

$3.37

-29.75%

 

 

NY Gasoline

Jul-23

$2.59

$2.50

3.80%

$0.10

$2.42

7.37%

$3.00

-13.65%

 

 

GC Gasoline

Jul-23

$2.49

$2.40

3.96%

$0.10

$2.32

7.69%

$2.90

-14.12%

 

 

GC Jet

Jul-23

$2.25

$2.24

0.40%

$0.01

$2.21

1.90%

$3.25

-30.77%

 

 

Chicago Ethanol

Jul-23

$2.38

$2.36

0.80%

$0.02

$2.30

3.70%

$2.53

-5.66%

 

 

Rotterdam Gasoil

Jul-23

$653.25

$647.04

0.96%

$6.21

$638.98

2.23%

$940.51

-30.54%

 

 

Singapore Jet Kero

Jul-23

$92.00

$91.90

0.11%

$0.10

$90.91

1.20%

$128.32

-28.30%

 

 

 

 

Implied Volatilities

 

 

 

EOXLive Market Data

 

 

 

Contract

6/9/23

6/8/23

% Change

Change

5/11/23

% Change

6/9/22

% Change

 

 

Henry Hub Straddle

Jul-23

66.55%

66.30%

0.38%

0.25%

64.57%

3.07%

47.59%

39.84%

 

 

Algonquin Straddle

Jul-23

55.11%

59.90%

-8.00%

-4.79%

126.81%

-56.54%

50.22%

9.74%

 

 

Waha Straddle

Jul-23

103.40%

101.53%

1.84%

1.87%

107.44%

-3.76%

61.94%

66.94%

 

 

Chicago Straddle

Jul-23

64.86%

65.32%

-0.70%

-0.46%

67.43%

-3.81%

47.76%

35.80%

 

 

PJM West Straddle

Jul-23

73.93%

80.27%

-7.90%

-6.34%

79.47%

-6.97%

59.38%

24.50%

 

 

SP – 15 Straddle

Jul-23

218.06%

210.54%

3.57%

7.52%

133.15%

63.77%

75.00%

190.75%

 

 

Mid. C Straddle

Jul-23

277.39%

268.34%

3.37%

9.05%

190.58%

45.55%

98.31%

182.16%

 

 

 

 

Euro Gas and Power/LNG

 

 

EOXLive Market Data

 

 

 

Contract

6/9/23

6/8/23

% Change

Change

5/11/23

% Change

6/9/22

% Change

 

 

Dutch TTF

Jul-23

EUR 32.67

EUR 26.70

22.37%

EUR 5.97

EUR 35.17

-7.12%

EUR 73.44

-55.51%

 

 

NBP

Jul-23

GBP 84.26

GBP 63.75

32.17%

GBP 20.51

GBP 80.31

4.92%

GBP 173.21

-51.35%

 

 

German Base

Jul-23

EUR 96.85

EUR 88.95

8.88%

EUR 7.90

EUR 98.55

-1.73%

EUR 200.45

-51.68%

 

 

UK Base

Jul-23

GBP 88.42

GBP 79.49

11.23%

GBP 8.92

GBP 93.60

-5.54%

GBP 164.95

-46.40%

 

 

French Base

Jul-23

EUR 98.24

EUR 88.24

11.34%

EUR 10.01

EUR 101.26

-2.98%

EUR 187.59

-47.63%

 

 

Italian Base

Jul-23

EUR 115.57

EUR 104.96

10.11%

EUR 10.61

EUR 128.45

-10.02%

EUR 183.01

-36.85%

 

 

JKM LNG

Jul-23

$10.73

$9.94

8.03%

$0.80

$10.69

0.38%

$23.50

-54.33%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

Cooling Degree Days

 

 

 

 

 

 

06/10/2023

Week Tot

Dev Norm

Dev L YR

Cum Tot

CumD Norm

CumD L YR

CumD Norm

CumD L YR

 

 

New England

0

-7

-9

17

2

-33

NA

NA

 

 

Middle Atlantic

0

-18

-13

30

-17

-45

NA

NA

 

 

E N Central

11

-16

2

68

-20

-40

NA

NA

 

 

W N Central

47

12

19

161

40

29

33.00%

22.00%

 

 

South Atlantic

51

-14

-17

489

39

-83

9.00%

-15.00%

 

 

E S Central

55

-3

-8

289

16

-66

6.00%

-19.00%

 

 

W S Central

86

-4

-22

607

56

-151

10.00%

-20.00%

 

 

Mountain

30

-12

-28

147

-56

-80

-28.00%

-35.00%

 

 

Pacific

4

-13

-22

25

-55

-29

NA

NA

 

 

United States

30

-11

-12

217

-1

-59

0.00%

-21.00%

 

 

 

 

Heating Degree Days

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

06/10/2023

Week Tot

Dev Norm

Dev L YR

Cum Tot

CumD Norm

CumD L YR

CumD Norm

CumD L YR

 

 

New England

60

36

44

5,737

-845

-206

-13.00%

-3.00%

 

 

Middle Atlantic

30

14

23

5,083

-814

-131

-14.00%

-3.00%

 

 

E N Central

19

0

-2

5,820

-657

-91

-10.00%

-2.00%

 

 

W N Central

2

-15

-13

6,520

-208

149

-3.00%

2.00%

 

 

South Atlantic

5

2

5

2,434

-417

21

-15.00%

1.00%

 

 

E S Central

2

-2

0

3,099

-504

-36

-14.00%

-1.00%

 

 

W S Central

0

-1

0

2,100

-187

154

-8.00%

8.00%

 

 

Mountain

15

-11

4

5,479

313

723

6.00%

15.00%

 

 

Pacific

24

1

12

3,606

419

604

13.00%

20.00%

 

 

United States

16

2

7

4,184

-323

126

-7.00%

3.00%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

Weather Forecast & Seasonal Outlook

 

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