Morning Report: Gas * Power * NGL * Crude * Products * Vols — Mar-14-2023

Mar 14, 2023

  

 

 

 

 

 

 

 

 

 

Prices as of 8:42 AM CST

 

 

 

 

 

 

 

Current Price

Previous Settle

% Change

Change

Volume

 

 

Natural Gas

$2.599

$2.606

-0.27%

-$0.007

25,024

 

 

WTI

$72.78

$74.80

-2.70%

-$2.02

146,299

 

 

Brent

$78.90

$80.77

-2.32%

-$1.87

10,831

 

 

ULSD

$2.740

$2.762

-0.77%

-$0.021

10,697

 

 

RBOB

$2.553

$2.591

-1.47%

-$0.038

9,888

 

 

 

 

Spreads

 

 

 

 

 

 

 

Current

Previous

% Change

Change

Contract

 

 

WTI-Brent

$6.00

$5.86

2.39%

$0.14

May-23

 

 

3:2:1 Crack

$35.63

$34.95

1.96%

$0.69

Apr-23

 

 

PJM West Spark

$31.46

$31.20

0.85%

$0.27

Apr-23

 

 

 

 

Baker Hughes Rig Count

 

 

 

 

 

 

 

Date

Count

Change

1 Year Chg.

1 Year Date

 

 

U.S.

03/10/23

746

-3

83

03/11/22

 

 

Canada

03/10/23

223

-23

17

03/11/22

 

 

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

3/13/23

3/10/23

% Change

Change

2/10/23

% Change

3/11/22

% Change

 

 

PJM West On Peak

Apr-23

$37.05

$36.77

0.75%

$0.28

$39.75

-6.80%

$48.29

-23.27%

 

 

ERCOT North On Peak

Apr-23

$33.62

$33.14

1.43%

$0.48

$36.22

-7.17%

$43.65

-22.99%

 

 

CAISO SP 15 On Peak

Apr-23

$38.64

$38.74

-0.27%

-$0.11

$38.56

0.20%

$27.80

38.99%

 

 

MISO Indiana On Peak

Apr-23

$39.30

$38.87

1.12%

$0.44

$43.37

-9.36%

$49.36

-20.36%

 

 

NEISO Mass On Peak

Apr-23

$41.54

$42.99

-3.37%

-$1.45

$45.44

-8.58%

$52.09

-20.27%

 

 

WECC Mid C On Peak

Apr-23

$75.45

$73.20

3.08%

$2.26

$66.16

14.05%

$30.54

147.07%

 

 

NYISO Zone G On Peak

Apr-23

$38.11

$38.65

-1.42%

-$0.55

$39.52

-3.57%

$42.64

-10.62%

 

 

 

 

 

Natural Gas & Basis

 

 

 

EOXLive Market Data

 

 

 

Contract

3/13/23

3/10/23

% Change

Change

2/10/23

% Change

3/11/22

% Change

 

 

NYMEX Henry Hub

Apr-23

$2.606

$2.430

7.24%

$0.18

$2.61

-0.04%

$3.60

-27.69%

 

 

Houston Ship Channel

Apr-23

-$0.271

-$0.273

-0.37%

$0.00

-$0.31

-11.68%

-$0.17

63.26%

 

 

Chicago

Apr-23

$0.030

$0.030

1.00%

$0.00

$0.04

-22.62%

-$0.15

-119.43%

 

 

Waha

Apr-23

-$1.788

-$1.645

-8.74%

-$0.14

-$1.38

29.63%

-$1.99

-10.02%

 

 

Algonquin

Apr-23

$0.318

$0.352

-9.77%

-$0.03

$0.53

-39.94%

$0.53

-40.10%

 

 

Aeco

Apr-23

-$0.440

-$0.577

-23.81%

$0.14

-$0.51

-13.45%

-$0.85

-48.34%

 

 

Socal

Apr-23

$0.743

$0.870

-14.53%

-$0.13

$0.37

98.72%

-$0.47

-257.37%

 

 

 

 

 

Natural Gas Liquids

 

 

 

EOXLive Market Data

 

 

 

Contract

3/13/23

3/10/23

% Change

Change

2/10/23

% Change

3/11/22

% Change

 

 

Mt. Belvieu Propane LST

Apr-23

$0.787

$0.807

-2.48%

-$0.02

$0.86

-8.43%

$1.03

-23.57%

 

 

Mt. Belvieu Propane non LST

Apr-23

$0.781

$0.810

-3.63%

-$0.03

$0.85

-8.34%

$1.03

-24.21%

 

 

Mt. Belview Ethane

Apr-23

$0.230

$0.244

-5.64%

-$0.01

$0.24

-3.74%

$0.32

-28.44%

 

 

Mt. Belview Nat. Gasoline

Apr-23

$1.576

$1.587

-0.65%

-$0.01

$1.67

-5.36%

$1.88

-16.18%

 

 

Mt. Belvieu Butane LST

Apr-23

$0.950

$0.972

-2.29%

-$0.02

$1.07

-11.25%

$1.18

-19.43%

 

 

Conway Propane

Apr-23

$0.745

$0.765

-2.63%

-$0.02

$0.82

-8.81%

$1.04

-28.18%

 

 

Conway Nat. Gasoline

Apr-23

$1.588

$1.598

-0.62%

-$0.01

$1.71

-7.04%

$1.85

-14.34%

 

 

 

 

Crude Oil

 

 

 

EOXLive Market Data

 

 

 

Contract

3/13/23

3/10/23

% Change

Change

2/10/23

% Change

3/11/22

% Change

 

 

WTI

May-23

$74.91

$76.78

-2.50%

-$1.87

$80.04

-6.41%

$85.08

-11.95%

 

 

Brent

May-23

$80.77

$82.78

-2.49%

-$2.01

$85.99

-6.07%

$90.91

-11.15%

 

 

WCS

May-23

-$15.85

-$15.14

4.49%

-$0.71

-$17.06

-7.09%

-$11.94

32.72%

 

 

LLS

May-23

$76.93

$79.35

-3.14%

-$2.41

$82.05

-6.23%

$86.41

-10.97%

 

 

Mars

May-23

$73.82

$75.87

-2.77%

-$2.05

$78.46

-5.91%

$83.08

-11.14%

 

 

Sour

May-23

$72.86

$76.17

-4.55%

-$3.31

$78.17

-6.79%

$83.99

-13.25%

 

 

ESPO

May-23

$77.79

$81.02

-4.15%

-$3.23

$83.52

-6.86%

$90.25

-13.80%

 

 

 

 

Refined Products

 

 

 

EOXLive Market Data

 

 

 

Contract

3/13/23

3/10/23

% Change

Change

2/10/23

% Change

3/11/22

% Change

 

 

NY Heating Oil

Apr-23

$2.76

$2.78

-0.50%

-$0.01

$2.84

-2.78%

$2.75

0.44%

 

 

NY Gasoline

Apr-23

$2.58

$2.64

-2.31%

-$0.06

$2.67

-3.66%

$2.63

-1.94%

 

 

GC Gasoline

Apr-23

$2.48

$2.54

-2.40%

-$0.06

$2.57

-3.81%

$2.53

-2.02%

 

 

GC Jet

Apr-23

$2.46

$2.44

0.66%

$0.02

$2.56

-3.99%

$2.52

-2.58%

 

 

Chicago Ethanol

Apr-23

$2.18

$2.19

-0.46%

-$0.01

$2.19

-0.46%

$2.03

7.58%

 

 

Rotterdam Gasoil

Apr-23

$727.96

$740.74

-1.73%

-$12.78

$773.82

-5.93%

$737.51

-1.29%

 

 

Singapore Jet Kero

Apr-23

$102.80

$101.10

1.68%

$1.70

$102.54

0.26%

$100.31

2.48%

 

 

 

 

Implied Volatilities

 

 

 

EOXLive Market Data

 

 

 

Contract

3/13/23

3/10/23

% Change

Change

2/10/23

% Change

3/11/22

% Change

 

 

Henry Hub Straddle

Apr-23

77.50%

85.25%

-9.09%

-7.75%

89.47%

-13.38%

40.17%

92.93%

 

 

Algonquin Straddle

Apr-23

62.06%

81.95%

-24.27%

-19.89%

88.45%

-29.84%

47.74%

30.00%

 

 

Waha Straddle

Apr-23

149.72%

169.01%

-11.41%

-19.29%

412.92%

-63.74%

100.75%

48.61%

 

 

Chicago Straddle

Apr-23

75.22%

84.82%

-11.32%

-9.60%

93.34%

-19.41%

43.11%

74.48%

 

 

PJM West Straddle

Apr-23

77.30%

76.69%

0.80%

0.61%

73.00%

5.89%

44.58%

73.40%

 

 

SP – 15 Straddle

Apr-23

109.83%

101.02%

8.72%

8.81%

82.94%

32.42%

22.03%

398.55%

 

 

Mid. C Straddle

Apr-23

189.38%

186.11%

1.76%

3.27%

134.63%

40.67%

34.57%

447.82%

 

 

 

 

Euro Gas and Power/LNG

 

 

EOXLive Market Data

 

 

 

Contract

3/13/23

3/10/23

% Change

Change

2/10/23

% Change

3/11/22

% Change

 

 

Dutch TTF

Apr-23

EUR 48.80

EUR 53.85

-9.38%

-EUR 5.05

EUR 54.95

-11.19%

EUR 72.63

-32.81%

 

 

NBP

Apr-23

GBP 123.95

GBP 137.17

-9.64%

-GBP 13.22

GBP 136.75

-9.36%

GBP 204.74

-39.46%

 

 

German Base

Apr-23

EUR 125.00

EUR 115.75

7.99%

EUR 9.25

EUR 130.54

-4.24%

EUR 163.06

-23.34%

 

 

UK Base

Apr-23

GBP 126.34

GBP 151.78

-16.76%

-GBP 25.44

GBP 143.41

-11.90%

GBP 134.32

-5.94%

 

 

French Base

Apr-23

EUR 137.36

EUR 140.38

-2.15%

-EUR 3.02

EUR 147.18

-6.67%

EUR 154.20

-10.92%

 

 

Italian Base

Apr-23

EUR 146.51

EUR 153.63

-4.64%

-EUR 7.13

EUR 155.99

-6.08%

EUR 174.98

-16.27%

 

 

JKM LNG

Apr-23

$13.88

$15.00

-7.52%

-$1.13

$15.85

-12.44%

$23.61

-41.24%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

Cooling Degree Days

 

 

 

 

 

 

03/11/2023

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

-1

0

0

-1

0

NA

NA

 

 

W N Central

0

-1

0

0

-1

0

NA

NA

 

 

South Atlantic

17

7

-5

108

29

21

NA

NA

 

 

E S Central

1

-3

-3

18

1

10

NA

NA

 

 

W S Central

23

14

13

80

36

49

NA

NA

 

 

Mountain

0

-1

0

0

-6

-1

NA

NA

 

 

Pacific

0

-1

0

0

-4

0

NA

NA

 

 

United States

6

3

0

30

8

10

NA

NA

 

 

 

 

Heating Degree Days

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

03/11/2023

Week Tot

Dev Norm

Dev L YR

Cum Tot

CumD Norm

CumD L YR

CumD Norm

CumD L YR

 

 

New England

202

-23

8

4,382

-746

-288

-15.00%

-6.00%

 

 

Middle Atlantic

195

-11

30

3,978

-684

-146

-15.00%

-4.00%

 

 

E N Central

190

-26

-6

4,564

-618

-124

-12.00%

-3.00%

 

 

W N Central

209

-7

-54

5,242

-268

176

-5.00%

3.00%

 

 

South Atlantic

76

-21

21

1,983

-407

-13

-17.00%

-1.00%

 

 

E S Central

80

-37

2

2,517

-526

-93

-17.00%

-4.00%

 

 

W S Central

32

-39

-59

1,789

-239

85

-12.00%

5.00%

 

 

Mountain

180

26

-44

4,312

231

572

6.00%

15.00%

 

 

Pacific

147

48

23

2,686

273

404

11.00%

18.00%

 

 

United States

140

-9

-2

3,297

-330

58

-9.00%

2.00%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

Weather Forecast & Seasonal Outlook

 

 

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