Morning Report: Gas * Power * NGL * Crude * Products * Vols — Mar-09-2023

Mar 9, 2023

  

 

 

 

 

 

 

 

 

 

Prices as of 8:26 AM CST

 

 

 

 

 

 

 

Current Price

Previous Settle

% Change

Change

Volume

 

 

Natural Gas

$2.607

$2.551

2.20%

$0.056

26,309

 

 

WTI

$77.34

$76.66

0.89%

$0.68

94,472

 

 

Brent

$83.43

$82.66

0.93%

$0.77

7,911

 

 

ULSD

$2.740

$2.742

-0.07%

-$0.002

6,907

 

 

RBOB

$2.698

$2.689

0.34%

$0.009

5,892

 

 

 

 

Spreads

 

 

 

 

 

 

 

Current

Previous

% Change

Change

Contract

 

 

WTI-Brent

$5.94

$5.85

1.54%

$0.09

May-23

 

 

3:2:1 Crack

$35.58

$36.06

-1.34%

-$0.48

Apr-23

 

 

PJM West Spark

$32.63

$34.02

-4.09%

-$1.39

Apr-23

 

 

 

 

Baker Hughes Rig Count

 

 

 

 

 

 

 

Date

Count

Change

1 Year Chg.

1 Year Date

 

 

U.S.

03/03/23

749

-4

99

03/04/22

 

 

Canada

03/03/23

246

2

29

03/04/22

 

 

International

Feb

915

14

102

Feb

 

 

 

 

CFTC Net Positions

 

 

 

 

 

 

As of 1/31/2023

Open Interest

Total Net Long

Total Net Short

Diff

 

 

PJM West On Peak

96,478

95,976

96,327

-351

 

 

PJM West Off Peak

87,750

87,297

87,608

-311

 

 

Natural Gas Henry Hub

436,516

415,851

425,855

-10,004

 

 

WTI – Light Sweet Crude Futures

154,980

120,158

125,414

-5,256

 

 

Brent Crude Last Day

163,764

155,271

159,264

-3,993

 

 

NYM Ethanol

28,226

27,403

27,641

-238

 

 

Mt Belvieu LDH Propane Swap

148,068

146,228

147,180

-952

 

 

RBOB

314,963

293,477

303,106

-9,629

 

 

HSC Basis

558,418

552,342

549,508

2,834

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

EIA Lower 48 Natural Gas Storage

 

 

 

 

03/02/18

 

 

 

2/24/23

2/17/23

Net Change

% Change

2/25/22

% Change

5 Year Avg.

% Change

 

 

East

451

479

-28

-5.85%

358

25.98%

372

21.11%

 

 

Midwest

544

575

-31

-5.39%

404

34.65%

429

26.81%

 

 

Mountain

99

106

-7

-6.60%

96

3.13%

97

2.27%

 

 

Pacific

99

108

-9

-8.33%

164

-39.63%

172

-42.44%

 

 

South

922

926

-4

-0.43%

620

48.71%

649

42.15%

 

 

    Salt

261

262

-1

-0.38%

163

60.12%

184

41.85%

 

 

    Non_Salt

661

664

-3

-0.45%

457

44.64%

465

42.27%

 

 

Total

2,114

2,195

-81

-3.69%

1,643

28.67%

1,719

22.99%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Power Generation Additions/Retirements

 

 

  

 

Front Month Prices

 

 

 

 

 

 

 

 

 

 

 

 

 

Electricity

 

 

 

EOXLive Market Data

 

 

 

Contract

3/8/23

3/7/23

% Change

Change

2/7/23

% Change

3/8/22

% Change

 

 

PJM West On Peak

Apr-23

$38.21

$39.48

-3.21%

-$1.27

$39.30

-2.77%

$49.10

-22.19%

 

 

ERCOT North On Peak

Apr-23

$34.32

$35.71

-3.87%

-$1.38

$33.58

2.21%

$43.45

-21.00%

 

 

CAISO SP 15 On Peak

Apr-23

$37.73

$37.51

0.57%

$0.22

$33.25

13.47%

$29.18

29.29%

 

 

MISO Indiana On Peak

Apr-23

$40.22

$42.24

-4.77%

-$2.02

$42.49

-5.34%

$49.93

-19.45%

 

 

NEISO Mass On Peak

Apr-23

$44.40

$45.78

-3.03%

-$1.39

$45.53

-2.49%

$52.38

-15.24%

 

 

WECC Mid C On Peak

Apr-23

$73.16

$76.39

-4.23%

-$3.23

$61.70

18.57%

$31.80

130.07%

 

 

NYISO Zone G On Peak

Apr-23

$39.82

$40.65

-2.06%

-$0.84

$39.81

0.01%

$43.42

-8.31%

 

 

 

 

 

Natural Gas & Basis

 

 

 

EOXLive Market Data

 

 

 

Contract

3/8/23

3/7/23

% Change

Change

2/7/23

% Change

3/8/22

% Change

 

 

NYMEX Henry Hub

Apr-23

$2.551

$2.687

-5.06%

-$0.14

$2.66

-4.24%

$3.57

-28.60%

 

 

Houston Ship Channel

Apr-23

-$0.259

-$0.247

4.86%

-$0.01

-$0.35

-25.05%

-$0.19

37.89%

 

 

Chicago

Apr-23

$0.022

$0.024

13.49%

$0.00

$0.03

-29.74%

-$0.21

-110.46%

 

 

Waha

Apr-23

-$1.401

-$1.471

-4.75%

$0.07

-$1.62

-13.31%

-$2.23

-37.15%

 

 

Algonquin

Apr-23

$0.552

$0.566

-2.47%

-$0.01

$0.60

-8.03%

$0.51

8.64%

 

 

Aeco

Apr-23

-$0.539

-$0.471

14.37%

-$0.07

-$0.53

2.28%

-$0.91

-40.88%

 

 

Socal

Apr-23

$0.557

$0.532

4.66%

$0.02

$0.37

52.56%

-$0.46

-221.09%

 

 

 

 

 

Natural Gas Liquids

 

 

 

EOXLive Market Data

 

 

 

Contract

3/8/23

3/7/23

% Change

Change

2/7/23

% Change

3/8/22

% Change

 

 

Mt. Belvieu Propane LST

Apr-23

$0.838

$0.855

-2.06%

-$0.02

$0.82

2.76%

$1.15

-27.31%

 

 

Mt. Belvieu Propane non LST

Apr-23

$0.840

$0.886

-5.22%

-$0.05

$0.81

3.70%

$1.15

-26.84%

 

 

Mt. Belview Ethane

Apr-23

$0.248

$0.237

4.38%

$0.01

$0.24

3.58%

$0.33

-25.06%

 

 

Mt. Belview Nat. Gasoline

Apr-23

$1.626

$1.692

-3.89%

-$0.07

$1.58

2.85%

$2.11

-23.11%

 

 

Mt. Belvieu Butane LST

Apr-23

$1.019

$1.048

-2.81%

-$0.03

$1.00

1.88%

$1.37

-25.41%

 

 

Conway Propane

Apr-23

$0.803

$0.840

-4.44%

-$0.04

$0.76

5.43%

$1.17

-31.27%

 

 

Conway Nat. Gasoline

Apr-23

$1.632

$1.691

-3.52%

-$0.06

$1.62

0.67%

$2.12

-23.15%

 

 

 

 

Crude Oil

 

 

 

EOXLive Market Data

 

 

 

Contract

3/8/23

3/7/23

% Change

Change

2/7/23

% Change

3/8/22

% Change

 

 

WTI

Apr-23

$76.66

$77.58

-1.20%

-$0.92

$77.39

-0.94%

$90.94

-15.70%

 

 

Brent

Apr-23

$82.89

$83.53

-0.77%

-$0.64

$83.69

-0.96%

$98.22

-15.61%

 

 

WCS

Apr-23

-$15.35

-$15.35

0.02%

$0.00

-$19.47

-21.18%

-$13.38

14.69%

 

 

LLS

Apr-23

$79.98

$80.59

-0.76%

-$0.60

$79.54

0.55%

$92.98

-13.98%

 

 

Mars

Apr-23

$74.72

$76.23

-2.01%

-$1.50

$75.40

-0.90%

$97.08

-23.03%

 

 

Sour

Apr-23

$75.64

$77.42

-2.36%

-$1.78

$74.81

1.10%

$98.02

-22.84%

 

 

ESPO

Apr-23

$80.88

$82.20

-1.64%

-$1.32

$80.92

-0.05%

$92.71

-12.76%

 

 

 

 

Refined Products

 

 

 

EOXLive Market Data

 

 

 

Contract

3/8/23

3/7/23

% Change

Change

2/7/23

% Change

3/8/22

% Change

 

 

NY Heating Oil

Apr-23

$2.74

$2.80

-2.00%

-$0.06

$2.85

-3.65%

$3.10

-11.37%

 

 

NY Gasoline

Apr-23

$2.68

$2.78

-3.63%

-$0.10

$2.64

1.71%

$2.89

-7.23%

 

 

GC Gasoline

Apr-23

$2.58

$2.68

-3.76%

-$0.10

$2.54

1.77%

$2.79

-7.49%

 

 

GC Jet

Apr-23

$2.63

$2.64

-0.61%

-$0.02

$2.70

-2.78%

$2.74

-4.12%

 

 

Chicago Ethanol

Apr-23

$2.18

$2.19

-0.46%

-$0.01

$2.23

-2.37%

$2.37

-8.02%

 

 

Rotterdam Gasoil

Apr-23

$754.58

$766.22

-1.52%

-$11.65

$761.60

-0.92%

$889.42

-15.16%

 

 

Singapore Jet Kero

Apr-23

$103.22

$106.08

-2.70%

-$2.86

$101.56

1.63%

$110.13

-6.27%

 

 

 

 

Implied Volatilities

 

 

 

EOXLive Market Data

 

 

 

Contract

3/8/23

3/7/23

% Change

Change

2/7/23

% Change

3/8/22

% Change

 

 

Henry Hub Straddle

Apr-23

79.85%

76.42%

4.49%

3.43%

79.69%

0.20%

45.63%

74.99%

 

 

Algonquin Straddle

Apr-23

64.99%

57.80%

12.44%

7.19%

84.79%

-23.35%

53.55%

21.36%

 

 

Waha Straddle

Apr-23

133.70%

135.40%

-1.26%

-1.70%

373.62%

-64.21%

103.29%

29.44%

 

 

Chicago Straddle

Apr-23

79.54%

76.22%

4.36%

3.32%

81.40%

-2.29%

48.39%

64.37%

 

 

PJM West Straddle

Apr-23

75.15%

70.90%

5.99%

4.25%

63.22%

18.87%

44.06%

70.56%

 

 

SP – 15 Straddle

Apr-23

114.45%

180.07%

-36.44%

-65.62%

101.73%

12.50%

21.57%

430.60%

 

 

Mid. C Straddle

Apr-23

175.05%

179.50%

-2.48%

-4.45%

129.84%

34.82%

34.85%

402.30%

 

 

 

 

Euro Gas and Power/LNG

 

 

EOXLive Market Data

 

 

 

Contract

3/8/23

3/7/23

% Change

Change

2/7/23

% Change

3/8/22

% Change

 

 

Dutch TTF

Apr-23

EUR 41.90

EUR 43.65

-4.01%

-EUR 1.75

EUR 55.69

-24.76%

EUR 69.99

-40.14%

 

 

NBP

Apr-23

GBP 105.80

GBP 110.25

-4.04%

-GBP 4.45

GBP 139.53

-24.17%

GBP 221.46

-52.23%

 

 

German Base

Apr-23

EUR 108.84

EUR 103.80

4.85%

EUR 5.04

EUR 129.25

-15.79%

EUR 173.97

-37.44%

 

 

UK Base

Apr-23

GBP 114.13

GBP 120.35

-5.17%

-GBP 6.22

GBP 147.01

-22.36%

GBP 214.94

-46.90%

 

 

French Base

Apr-23

EUR 121.23

EUR 117.31

3.34%

EUR 3.92

EUR 145.42

-16.64%

EUR 135.55

-10.57%

 

 

Italian Base

Apr-23

EUR 134.32

EUR 127.53

5.32%

EUR 6.78

EUR 162.07

-17.12%

EUR 180.88

-25.74%

 

 

JKM LNG

Apr-23

$13.77

$13.90

-0.91%

-$0.13

$16.38

-15.96%

$22.11

-37.73%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

Cooling Degree Days

 

 

 

 

 

 

03/04/2023

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

18

9

7

91

22

27

NA

NA

 

 

E S Central

6

3

6

17

4

13

NA

NA

 

 

W S Central

21

13

18

57

22

36

NA

NA

 

 

Mountain

0

-1

-1

0

-5

-1

NA

NA

 

 

Pacific

0

-1

0

0

-3

0

NA

NA

 

 

United States

6

3

4

24

5

10

NA

NA

 

 

 

 

Heating Degree Days

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

03/04/2023

Week Tot

Dev Norm

Dev L YR

Cum Tot

CumD Norm

CumD L YR

CumD Norm

CumD L YR

 

 

New England

245

6

-35

4,180

-723

-296

-15.00%

-7.00%

 

 

Middle Atlantic

198

-22

-33

3,783

-673

-175

-15.00%

-4.00%

 

 

E N Central

179

-54

-43

4,373

-593

-118

-12.00%

-3.00%

 

 

W N Central

212

-21

5

5,033

-261

230

-5.00%

5.00%

 

 

South Atlantic

53

-54

-33

1,907

-386

-34

-17.00%

-2.00%

 

 

E S Central

45

-85

-66

2,437

-489

-96

-17.00%

-4.00%

 

 

W S Central

31

-49

-64

1,758

-199

144

-10.00%

9.00%

 

 

Mountain

214

51

65

4,132

205

616

5.00%

18.00%

 

 

Pacific

170

68

81

2,539

225

381

10.00%

18.00%

 

 

United States

140

-20

-14

3,158

-320

60

-9.00%

2.00%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

Weather Forecast & Seasonal Outlook

 

 

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