Morning Report: Gas * Power * NGL * Crude * Products * Vols — Mar-10-2023

Mar 10, 2023

  

 

 

 

 

 

 

 

 

 

Prices as of 9:16 AM CST

 

 

 

 

 

 

 

Current Price

Previous Settle

% Change

Change

Volume

 

 

Natural Gas

$2.513

$2.543

-1.18%

-$0.030

40,646

 

 

WTI

$76.18

$75.72

0.61%

$0.46

173,399

 

 

Brent

$82.09

$81.59

0.61%

$0.50

13,238

 

 

ULSD

$2.734

$2.669

2.45%

$0.065

14,772

 

 

RBOB

$2.612

$2.605

0.27%

$0.007

11,234

 

 

 

 

Spreads

 

 

 

 

 

 

 

Current

Previous

% Change

Change

Contract

 

 

WTI-Brent

$5.80

$5.75

0.87%

$0.05

May-23

 

 

3:2:1 Crack

$34.27

$33.76

1.52%

$0.51

Apr-23

 

 

PJM West Spark

$32.16

$32.77

-1.85%

-$0.60

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

 

 

 

 

03/09/18

 

 

 

3/3/23

2/24/23

Net Change

% Change

3/4/22

% Change

5 Year Avg.

% Change

 

 

East

416

451

-35

-7.76%

317

31.23%

334

24.63%

 

 

Midwest

515

544

-29

-5.33%

364

41.48%

394

30.71%

 

 

Mountain

92

99

-7

-7.07%

93

-1.08%

92

-0.43%

 

 

Pacific

81

99

-18

-18.18%

162

-50.00%

168

-51.67%

 

 

South

925

922

3

0.33%

582

58.93%

627

47.62%

 

 

    Salt

261

261

0

0.00%

151

72.85%

175

48.80%

 

 

    Non_Salt

664

661

3

0.45%

431

54.06%

451

47.16%

 

 

Total

2,030

2,114

-84

-3.97%

1,519

33.64%

1,615

25.73%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Power Generation Additions/Retirements

 

 

  

 

Front Month Prices

 

 

 

 

 

 

 

 

 

 

 

 

 

Electricity

 

 

 

EOXLive Market Data

 

 

 

Contract

3/9/23

3/8/23

% Change

Change

2/8/23

% Change

3/9/22

% Change

 

 

PJM West On Peak

Apr-23

$37.54

$38.21

-1.75%

-$0.67

$36.88

1.78%

$47.64

-21.20%

 

 

ERCOT North On Peak

Apr-23

$33.69

$34.32

-1.85%

-$0.64

$32.03

5.19%

$42.72

-21.15%

 

 

CAISO SP 15 On Peak

Apr-23

$37.23

$37.73

-1.32%

-$0.50

$34.01

9.46%

$27.62

34.77%

 

 

MISO Indiana On Peak

Apr-23

$39.62

$40.22

-1.50%

-$0.60

$39.84

-0.56%

$48.49

-18.29%

 

 

NEISO Mass On Peak

Apr-23

$43.63

$44.40

-1.73%

-$0.77

$42.84

1.85%

$51.65

-15.53%

 

 

WECC Mid C On Peak

Apr-23

$73.25

$73.16

0.12%

$0.09

$58.10

26.08%

$31.69

131.13%

 

 

NYISO Zone G On Peak

Apr-23

$39.06

$39.82

-1.89%

-$0.75

$36.67

6.52%

$44.84

-12.89%

 

 

 

 

 

Natural Gas & Basis

 

 

 

EOXLive Market Data

 

 

 

Contract

3/9/23

3/8/23

% Change

Change

2/8/23

% Change

3/9/22

% Change

 

 

NYMEX Henry Hub

Apr-23

$2.543

$2.551

-0.31%

-$0.01

$2.48

2.66%

$3.57

-28.67%

 

 

Houston Ship Channel

Apr-23

-$0.246

-$0.259

-4.94%

$0.01

-$0.35

-30.50%

-$0.18

33.71%

 

 

Chicago

Apr-23

$0.020

$0.022

6.44%

$0.00

$0.01

78.76%

-$0.18

-111.14%

 

 

Waha

Apr-23

-$1.538

-$1.401

-9.82%

-$0.14

-$1.40

9.83%

-$2.14

-28.26%

 

 

Algonquin

Apr-23

$0.433

$0.552

-21.48%

-$0.12

$0.66

-34.17%

$0.51

-15.67%

 

 

Aeco

Apr-23

-$0.450

-$0.539

-16.42%

$0.09

-$0.45

-0.81%

-$0.87

-48.23%

 

 

Socal

Apr-23

$0.685

$0.557

22.93%

$0.13

$0.30

127.40%

-$0.46

-250.05%

 

 

 

 

 

Natural Gas Liquids

 

 

 

EOXLive Market Data

 

 

 

Contract

3/9/23

3/8/23

% Change

Change

2/8/23

% Change

3/9/22

% Change

 

 

Mt. Belvieu Propane LST

Apr-23

$0.815

$0.838

-2.69%

-$0.02

$0.84

-3.27%

$1.10

-25.72%

 

 

Mt. Belvieu Propane non LST

Apr-23

$0.822

$0.840

-2.09%

-$0.02

$0.82

0.00%

$1.06

-22.11%

 

 

Mt. Belview Ethane

Apr-23

$0.241

$0.248

-2.48%

-$0.01

$0.24

1.08%

$0.32

-24.64%

 

 

Mt. Belview Nat. Gasoline

Apr-23

$1.607

$1.626

-1.14%

-$0.02

$1.67

-3.55%

$1.91

-15.97%

 

 

Mt. Belvieu Butane LST

Apr-23

$0.996

$1.019

-2.24%

-$0.02

$1.04

-4.24%

$1.38

-27.90%

 

 

Conway Propane

Apr-23

$0.770

$0.803

-4.10%

-$0.03

$0.79

-2.19%

$1.08

-28.48%

 

 

Conway Nat. Gasoline

Apr-23

$1.609

$1.632

-1.38%

-$0.02

$1.71

-5.69%

$2.08

-22.48%

 

 

 

 

Crude Oil

 

 

 

EOXLive Market Data

 

 

 

Contract

3/9/23

3/8/23

% Change

Change

2/8/23

% Change

3/9/22

% Change

 

 

WTI

Apr-23

$75.72

$76.66

-1.24%

-$0.94

$78.69

-3.77%

$81.89

-7.53%

 

 

Brent

Apr-23

$81.83

$82.89

-1.29%

-$1.06

$85.09

-3.83%

$87.61

-6.60%

 

 

WCS

Apr-23

-$15.41

-$15.35

0.43%

-$0.07

-$19.73

-21.87%

-$13.13

17.45%

 

 

LLS

Apr-23

$80.18

$79.98

0.25%

$0.20

$81.65

-1.80%

$82.70

-3.04%

 

 

Mars

Apr-23

$73.78

$74.72

-1.28%

-$0.94

$77.36

-4.63%

$74.90

-1.50%

 

 

Sour

Apr-23

$75.06

$75.64

-0.76%

-$0.57

$76.20

-1.49%

$76.08

-1.34%

 

 

ESPO

Apr-23

$80.40

$80.88

-0.59%

-$0.48

$82.57

-2.63%

$80.31

0.12%

 

 

 

 

Refined Products

 

 

 

EOXLive Market Data

 

 

 

Contract

3/9/23

3/8/23

% Change

Change

2/8/23

% Change

3/9/22

% Change

 

 

NY Heating Oil

Apr-23

$2.67

$2.74

-2.59%

-$0.07

$2.86

-6.48%

$2.84

-5.95%

 

 

NY Gasoline

Apr-23

$2.60

$2.68

-2.94%

-$0.08

$2.65

-1.77%

$2.64

-1.48%

 

 

GC Gasoline

Apr-23

$2.50

$2.58

-3.06%

-$0.08

$2.55

-1.84%

$2.54

-1.53%

 

 

GC Jet

Apr-23

$2.53

$2.63

-3.69%

-$0.10

$2.60

-2.62%

$2.62

-3.40%

 

 

Chicago Ethanol

Apr-23

$2.17

$2.18

-0.46%

-$0.01

$2.22

-2.25%

$1.89

14.51%

 

 

Rotterdam Gasoil

Apr-23

$740.66

$754.58

-1.84%

-$13.92

$773.25

-4.22%

$745.74

-0.68%

 

 

Singapore Jet Kero

Apr-23

$104.20

$103.22

0.95%

$0.98

$105.30

-1.05%

$119.22

-12.60%

 

 

 

 

Implied Volatilities

 

 

 

EOXLive Market Data

 

 

 

Contract

3/9/23

3/8/23

% Change

Change

2/8/23

% Change

3/9/22

% Change

 

 

Henry Hub Straddle

Apr-23

81.47%

79.85%

2.03%

1.62%

94.37%

-13.67%

41.36%

96.98%

 

 

Algonquin Straddle

Apr-23

70.86%

64.99%

9.03%

5.87%

95.17%

-25.54%

46.69%

51.77%

 

 

Waha Straddle

Apr-23

144.07%

133.70%

7.76%

10.37%

353.02%

-59.19%

99.19%

45.25%

 

 

Chicago Straddle

Apr-23

80.98%

79.54%

1.81%

1.44%

96.71%

-16.27%

42.92%

88.68%

 

 

PJM West Straddle

Apr-23

75.11%

75.15%

-0.05%

-0.04%

64.98%

15.59%

43.58%

72.35%

 

 

SP – 15 Straddle

Apr-23

100.92%

114.45%

-11.82%

-13.53%

80.75%

24.98%

21.40%

371.59%

 

 

Mid. C Straddle

Apr-23

182.55%

175.05%

4.28%

7.50%

126.96%

43.79%

36.18%

404.56%

 

 

 

 

Euro Gas and Power/LNG

 

 

EOXLive Market Data

 

 

 

Contract

3/9/23

3/8/23

% Change

Change

2/8/23

% Change

3/9/22

% Change

 

 

Dutch TTF

Apr-23

EUR 47.67

EUR 41.90

13.77%

EUR 5.77

EUR 55.26

-13.74%

EUR 76.12

-37.38%

 

 

NBP

Apr-23

GBP 119.99

GBP 105.80

13.41%

GBP 14.19

GBP 137.50

-12.73%

GBP 204.64

-41.36%

 

 

German Base

Apr-23

EUR 103.79

EUR 108.84

-4.63%

-EUR 5.04

EUR 132.00

-21.37%

EUR 157.54

-34.12%

 

 

UK Base

Apr-23

GBP 130.87

GBP 114.13

14.67%

GBP 16.74

GBP 151.65

-13.71%

GBP 85.82

52.48%

 

 

French Base

Apr-23

EUR 118.04

EUR 121.23

-2.63%

-EUR 3.18

EUR 154.42

-23.56%

EUR 148.82

-20.68%

 

 

Italian Base

Apr-23

EUR 125.63

EUR 134.32

-6.47%

-EUR 8.69

EUR 157.50

-20.24%

EUR 179.77

-30.12%

 

 

JKM LNG

Apr-23

$13.63

$13.77

-1.04%

-$0.14

$16.11

-15.45%

$22.54

-39.55%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

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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