Prices as of 7:07 AM CST

 

 

 

 

 

 

 

Current Price

Previous Settle

% Change

Change

Volume

 

 

Natural Gas

$4.270

$4.350

-1.84%

-$0.080

38,178

 

 

WTI

$67.06

$68.26

-1.76%

-$1.20

64,373

 

 

Brent

$70.12

$71.04

-1.30%

-$0.92

8,264

 

 

ULSD

$2.241

$2.287

-2.02%

-$0.046

7,261

 

 

RBOB

$2.151

$2.194

-1.96%

-$0.043

4,149

 

 

 

 

Spreads

 

 

 

 

 

 

 

Current

Previous

% Change

Change

Contract

 

 

WTI-Brent

$3.47

$3.34

3.89%

$0.13

May-25

 

 

3:2:1 Crack

$24.34

$24.98

-2.56%

-$0.64

Apr-25

 

 

PJM West Spark

$46.79

$45.53

2.77%

$1.26

Apr-25

 

 

 

 

Baker Hughes Rig Count

 

 

 

 

 

 

 

Date

Count

Change

1 Year Chg.

1 Year Date

 

 

U.S.

02/28/25

593

1

-36

03/01/24

 

 

Canada

02/28/25

248

4

17

03/01/24

 

 

International

Jan

905

-4

-60

Jan

 

 

 

 

CFTC Net Positions

 

 

 

 

 

 

As of 2/25/2025

Open Interest

Total Net Long

Total Net Short

Diff

 

 

PJM West On Peak

95,119

94,752

94,588

164

 

 

PJM West Off Peak

85,248

85,175

84,643

532

 

 

Natural Gas Henry Hub

352,798

341,801

339,273

2,528

 

 

WTI – Light Sweet Crude Futures

154,003

128,122

115,612

12,510

 

 

Brent Crude Last Day

183,969

177,145

176,348

797

 

 

NYM Ethanol

43,229

42,017

42,867

-850

 

 

Mt Belvieu LDH Propane Swap

163,355

162,731

163,195

-464

 

 

RBOB

425,872

404,328

405,970

-1,642

 

 

HSC Basis

975,238

967,306

963,494

3,812

 

 

 

 

EIA Short Term Energy Outlook

 

 

 

 

 

 

 

2023

2024

2025 Projected

2026 Projected

 

 

Brent

$82.00

$81.00

$74.00

$66.00

 

 

Gasoline

$3.50

$3.30

$3.20

$3.00

 

 

Crude Oil Production

$12.90

$13.20

$13.50

$13.60

 

 

Natural Gas Spot

$2.50

$2.20

$3.10

$4.00

 

 

LNG Exports

12.00

12.00

14.00

16.00

 

 

 

 

 

 

 

 

 

 

Electrical Generation %

2023

2024

2025 Projected

2026 Projected

 

 

Natural gas

42.00%

43.00%

41.00%

40.00%

 

 

Coal

17.00%

16.00%

15.00%

15.00%

 

 

Renewables

22.00%

23.00%

25.00%

27.00%

 

 

Nuclear

19.00%

19.00%

19.00%

19.00%

 

 

 

 

 

 

 

 

 

 

 

Short Term Energy Outlook

 

Natural Gas Storage

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

EIA Lower 48 Natural Gas Storage

 

 

 

 

02/21/20

 

 

 

2/21/25

2/14/25

Net Change

% Change

2/23/24

% Change

5 Year Avg.

% Change

 

 

East

362

419

-57

-13.60%

453

-20.09%

426

-14.98%

 

 

Midwest

424

494

-70

-14.17%

600

-29.33%

521

-18.59%

 

 

Mountain

168

182

-14

-7.69%

169

-0.59%

118

42.61%

 

 

Pacific

198

208

-10

-4.81%

217

-8.76%

177

11.74%

 

 

South

688

799

-111

-13.89%

935

-26.42%

794

-13.31%

 

 

    Salt

159

214

-55

-25.70%

275

-42.18%

220

-27.86%

 

 

    Non_Salt

528

585

-57

-9.74%

660

-20.00%

573

-7.92%

 

 

Total

1,840

2,101

-261

-12.42%

2,374

-22.49%

2,035

-9.59%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Power Generation Additions/Retirements

 

 

  

 

Front Month Prices

 

 

 

 

 

 

 

 

 

 

 

 

 

Electricity

 

 

 

OTCGH/EOXLive Market Data

 

 

 

Contract

3/4/25

3/3/25

% Change

Change

2/3/25

% Change

3/4/24

% Change

 

 

PJM West On Peak

Apr-25

$55.97

$54.84

2.07%

$1.13

$48.01

16.59%

$43.09

29.90%

 

 

ERCOT North On Peak

Apr-25

$42.94

$39.89

7.64%

$3.05

$37.16

15.56%

$35.45

21.13%

 

 

CAISO SP 15 On Peak

Apr-25

$7.53

$5.12

47.04%

$2.41

$5.92

27.22%

$24.45

-69.21%

 

 

MISO Indiana On Peak

Apr-25

$52.91

$52.82

0.17%

$0.09

$47.21

12.08%

$45.37

16.63%

 

 

NEISO Mass On Peak

Apr-25

$56.49

$51.65

9.37%

$4.84

$51.14

10.47%

$46.60

21.23%

 

 

WECC Mid C On Peak

Apr-25

$49.65

$43.42

14.33%

$6.22

$48.06

3.31%

$52.82

-6.01%

 

 

NYISO Zone G On Peak

Apr-25

$53.74

$49.07

9.52%

$4.67

$46.32

16.01%

$41.83

28.48%

 

 

 

 

 

Natural Gas & Basis

 

 

 

OTCGH/EOXLive Market Data

 

 

 

Contract

3/4/25

3/3/25

% Change

Change

2/3/25

% Change

3/4/24

% Change

 

 

NYMEX Henry Hub

Apr-25

$4.350

$4.122

5.53%

$0.23

$3.34

30.43%

$3.07

41.51%

 

 

Houston Ship Channel

Apr-25

-$0.722

-$0.667

8.20%

-$0.05

-$0.42

72.33%

-$0.34

111.70%

 

 

Chicago

Apr-25

-$0.326

-$0.307

-5.83%

-$0.02

-$0.19

71.76%

-$0.13

154.09%

 

 

Waha

Apr-25

-$3.750

-$3.595

-4.33%

-$0.16

-$2.40

56.19%

-$1.04

262.30%

 

 

Algonquin

Apr-25

$0.166

$0.170

-2.06%

$0.00

$0.27

-37.54%

$0.61

-72.74%

 

 

Aeco

Apr-25

-$2.898

-$2.670

8.57%

-$0.23

-$2.05

41.36%

-$0.82

252.47%

 

 

Socal

Apr-25

-$0.829

-$0.739

12.06%

-$0.09

-$0.38

115.50%

-$0.17

401.27%

 

 

 

 

 

Natural Gas Liquids

 

 

 

OTCGH/EOXLive Market Data

 

 

 

Contract

3/4/25

3/3/25

% Change

Change

2/3/25

% Change

3/4/24

% Change

 

 

Mt. Belvieu Propane LST

Apr-25

$0.823

$0.842

-2.29%

-$0.02

$0.82

0.09%

$0.73

13.38%

 

 

Mt. Belvieu Propane non LST

Apr-25

$0.830

$0.847

-2.00%

-$0.02

$0.83

0.36%

$0.73

13.19%

 

 

Mt. Belview Ethane

Apr-25

$0.296

$0.282

4.86%

$0.01

$0.24

21.94%

$0.23

27.42%

 

 

Mt. Belview Nat. Gasoline

Apr-25

$1.423

$1.438

-1.07%

-$0.02

$1.48

-3.91%

$1.43

-0.57%

 

 

Mt. Belvieu Butane LST

Apr-25

$0.910

$0.923

-1.40%

-$0.01

$0.99

-8.05%

$0.86

5.87%

 

 

Far East Propane

Apr-25

$5.819

$5.830

-0.19%

-$0.01

$5.98

-2.77%

$5.56

4.62%

 

 

Saudi Propane

Apr-25

$5.869

$5.939

-1.18%

-$0.07

$6.12

-4.15%

$5.11

14.89%

 

 

 

 

Crude Oil

 

 

 

OTCGH/EOXLive Market Data

 

 

 

Contract

3/4/25

3/3/25

% Change

Change

2/3/25

% Change

3/4/24

% Change

 

 

WTI

Apr-25

$68.26

$68.37

-0.16%

-$0.11

$72.39

-5.71%

$72.16

-5.40%

 

 

Brent

Apr-25

$71.27

$71.85

-0.81%

-$0.57

$75.96

-6.17%

$76.79

-7.19%

 

 

WCS

Apr-25

-$13.90

-$12.87

7.45%

-$1.04

-$15.25

-8.85%

-$14.33

-3.01%

 

 

LLS

Apr-25

$70.09

$72.00

-2.73%

-$1.91

$73.71

-4.91%

$73.62

-4.79%

 

 

Mars

Apr-25

$68.56

$69.04

-0.70%

-$0.48

$71.96

-4.73%

$70.43

-2.66%

 

 

Sour

Apr-25

$68.67

$68.75

-0.12%

-$0.08

$71.99

-4.62%

$71.55

-4.03%

 

 

ESPO

Apr-25

$69.27

$69.85

-0.83%

-$0.57

$73.96

-6.34%

$74.79

-7.38%

 

 

 

 

Refined Products

 

 

 

OTCGH/EOXLive Market Data

 

 

 

Contract

3/4/25

3/3/25

% Change

Change

2/3/25

% Change

3/4/24

% Change

 

 

NY Heating Oil

Apr-25

$2.29

$2.27

0.84%

$0.02

$2.39

-4.22%

$2.43

-5.60%

 

 

NY Gasoline

Apr-25

$2.19

$2.19

-0.09%

$0.00

$2.31

-5.19%

$2.24

-2.41%

 

 

GC Gasoline

Apr-25

$2.09

$2.09

-0.10%

$0.00

$2.21

-5.43%

$2.14

-2.52%

 

 

GC Jet

Apr-25

$2.08

$2.10

-1.09%

-$0.02

$2.29

-9.17%

$2.26

-8.09%

 

 

Chicago Ethanol

Apr-25

$1.66

$1.68

-1.37%

-$0.02

$1.81

-8.19%

$1.50

10.81%

 

 

Rotterdam Gasoil

Apr-25

$652.20

$659.55

-1.11%

-$7.35

$714.45

-8.71%

$697.53

-6.50%

 

 

Singapore Jet Kero

Apr-25

$84.60

$86.18

-1.83%

-$1.58

$89.93

-5.92%

$93.89

-9.90%

 

 

 

 

Implied Volatilities

 

 

 

OTCGH/EOXLive Market Data

 

 

 

Contract

3/4/25

3/3/25

% Change

Change

2/3/25

% Change

3/4/24

% Change

 

 

Henry Hub Straddle

Apr-25

52.47%

46.94%

11.78%

5.53%

47.81%

9.75%

36.55%

43.56%

 

 

Algonquin Straddle

Apr-25

49.26%

42.45%

16.04%

6.81%

43.32%

13.71%

31.13%

58.24%

 

 

Waha Straddle

Apr-25

251.65%

242.85%

3.62%

8.80%

147.86%

70.19%

47.79%

426.57%

 

 

Chicago Straddle

Apr-25

56.17%

46.19%

21.61%

9.98%

52.68%

6.62%

35.58%

57.87%

 

 

PJM West Straddle

Apr-25

51.96%

50.62%

2.65%

1.34%

43.42%

19.67%

33.73%

54.05%

 

 

SP – 15 Straddle

Apr-25

291.07%

41.19%

606.65%

249.88%

259.85%

12.01%

72.92%

299.16%

 

 

Mid. C Straddle

Apr-25

81.47%

84.72%

-3.84%

-3.25%

72.53%

12.33%

49.49%

64.62%

 

 

 

 

Euro Gas and Power/LNG

 

 

OTCGH/EOXLive Market Data

 

 

 

Contract

3/4/25

3/3/25

% Change

Change

2/3/25

% Change

3/4/24

% Change

 

 

Dutch TTF

Apr-25

EUR 42.85

EUR 45.77

-6.40%

-EUR 2.93

EUR 53.67

-20.18%

EUR 30.08

42.42%

 

 

NBP

Apr-25

GBP 102.51

GBP 108.33

-5.37%

-GBP 5.82

GBP 129.39

-20.77%

GBP 76.50

33.99%

 

 

German Base

Apr-25

EUR 77.32

EUR 80.15

-3.53%

-EUR 2.83

EUR 94.45

-18.14%

EUR 68.11

13.53%

 

 

UK Base

Apr-25

GBP 82.54

GBP 88.18

-6.39%

-GBP 5.64

GBP 100.05

-17.50%

GBP 67.31

22.62%

 

 

French Base

Apr-25

EUR 58.78

EUR 58.10

1.18%

EUR 0.69

EUR 73.62

-20.16%

EUR 63.03

-6.73%

 

 

Italian Base

Apr-25

EUR 111.11

EUR 117.50

-5.43%

-EUR 6.39

EUR 136.41

-18.54%

EUR 85.89

29.37%

 

 

JKM LNG

Apr-25

$13.43

$14.31

-6.14%

-$0.88

$15.40

-12.80%

$10.21

31.58%

 

 

 

 

Freight Forwards (WET & DRY)

 

OTCGH/EOXLive Market Data

 

 

 

Contract

3/4/25

3/3/25

% Change

Change

2/3/25

% Change

3/4/24

% Change

 

 

TD3C FFA Middle East to China (WET)

Apr-25

$42.85

$45.77

-6.40%

-$2.93

$53.67

-20.18%

$30.08

42.42%

 

 

USGC-UK Continent Dirty (WET)

Apr-25

$102.51

$108.33

-5.37%

-$5.82

$129.39

-20.77%

$76.50

33.99%

 

 

TD20 West Africa to UK Continent (WET)

Apr-25

$77.32

$80.15

-3.53%

-$2.83

$94.45

-18.14%

$68.11

13.53%

 

 

LPG FFA Middle East Gulf to East (WET)

Apr-25

$82.54

$88.18

-6.39%

-$5.64

$100.05

-17.50%

$67.31

22.62%

 

 

TC5 FFA Arabian Gulf to Japan (WET)

Apr-25

$58.78

$58.10

1.18%

$0.69

$73.62

-20.16%

$63.03

-6.73%

 

 

Supramax Timecharter (DRY)

Apr-25

$111.11

$117.50

-5.43%

-$6.39

$136.41

-18.54%

$85.89

29.37%

 

 

Capesize Timecharter (DRY)

Apr-25

$13.43

$14.31

-6.14%

-$0.88

$15.40

-12.80%

$10.21

31.58%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

Cooling Degree Days

 

 

 

 

 

 

03/01/2025

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

0

NA

NA

 

 

Middle Atlantic

0

0

0

0

0

0

NA

NA

 

 

E N Central

0

0

0

0

0

0

NA

NA

 

 

W N Central

0

0

0

0

0

0

NA

NA

 

 

South Atlantic

6

-3

0

49

-15

11

NA

NA

 

 

E S Central

0

-3

-2

1

-11

0

NA

NA

 

 

W S Central

5

-1

-7

30

1

7

NA

NA

 

 

Mountain

2

1

2

3

-1

3

NA

NA

 

 

Pacific

0

-1

0

0

-3

0

NA

NA

 

 

United States

2

-1

-1

13

-4

3

NA

NA

 

 

 

 

Heating Degree Days

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

03/01/2025

Week Tot

Dev Norm

Dev L YR

Cum Tot

CumD Norm

CumD L YR

CumD Norm

CumD L YR

 

 

New England

197

-49

-24

4,572

-196

423

-4.00%

10.00%

 

 

Middle Atlantic

173

-54

-21

4,057

-275

341

-6.00%

9.00%

 

 

E N Central

197

-43

6

4,487

-348

420

-7.00%

10.00%

 

 

W N Central

172

-68

-19

4,784

-379

465

-7.00%

11.00%

 

 

South Atlantic

86

-25

-9

2,120

-113

121

-5.00%

6.00%

 

 

E S Central

113

-22

10

2,608

-245

70

-9.00%

3.00%

 

 

W S Central

64

-21

9

1,688

-224

-77

-12.00%

-4.00%

 

 

Mountain

124

-43

-25

3,503

-332

4

-9.00%

0.00%

 

 

Pacific

61

-42

-45

2,104

-152

42

-7.00%

2.00%

 

 

United States

125

-40

-13

3,151

-237

194

-7.00%

7.00%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

Weather Forecast & Seasonal Outlook

 

 

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