Morning Report: Gas * Power * NGL * Crude * Products * Vols — Mar-17-2023

Mar 17, 2023

  

 

 

 

 

 

 

 

 

 

Prices as of 8:24 AM CST

 

 

 

 

 

 

 

Current Price

Previous Settle

% Change

Change

Volume

 

 

Natural Gas

$2.418

$2.514

-3.82%

-$0.096

19,787

 

 

WTI

$67.41

$68.35

-1.38%

-$0.94

47,934

 

 

Brent

$73.46

$74.70

-1.66%

-$1.24

12,804

 

 

ULSD

$2.693

$2.644

1.89%

$0.050

8,704

 

 

RBOB

$2.513

$2.504

0.40%

$0.010

6,421

 

 

 

 

Spreads

 

 

 

 

 

 

 

Current

Previous

% Change

Change

Contract

 

 

WTI-Brent

$5.89

$6.18

-4.69%

-$0.29

May-23

 

 

3:2:1 Crack

$37.85

$36.27

4.36%

$1.58

Apr-23

 

 

PJM West Spark

$31.72

$30.86

2.81%

$0.87

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

 

 

 

 

03/16/18

 

 

 

3/10/23

3/3/23

Net Change

% Change

3/11/22

% Change

5 Year Avg.

% Change

 

 

East

391

416

-25

-6.01%

290

34.83%

309

26.54%

 

 

Midwest

490

515

-25

-4.85%

337

45.40%

372

31.86%

 

 

Mountain

87

92

-5

-5.43%

87

0.00%

90

-3.12%

 

 

Pacific

72

81

-9

-11.11%

155

-53.55%

164

-55.99%

 

 

South

933

925

8

0.86%

571

63.40%

635

47.02%

 

 

    Salt

266

261

5

1.92%

159

67.30%

184

44.57%

 

 

    Non_Salt

667

664

3

0.45%

412

61.89%

451

47.96%

 

 

Total

1,972

2,030

-58

-2.86%

1,440

36.94%

1,569

25.69%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Power Generation Additions/Retirements

 

 

  

 

Front Month Prices

 

 

 

 

 

 

 

 

 

 

 

 

 

Electricity

 

 

 

EOXLive Market Data

 

 

 

Contract

3/16/23

3/15/23

% Change

Change

2/15/23

% Change

3/16/22

% Change

 

 

PJM West On Peak

Apr-23

$36.90

$36.24

1.82%

$0.66

$37.96

-2.81%

$48.94

-24.61%

 

 

ERCOT North On Peak

Apr-23

$32.52

$32.90

-1.17%

-$0.39

$33.88

-4.03%

$42.27

-23.08%

 

 

CAISO SP 15 On Peak

Apr-23

$41.85

$38.99

7.34%

$2.86

$39.34

6.39%

$27.35

53.06%

 

 

MISO Indiana On Peak

Apr-23

$39.05

$38.29

2.00%

$0.77

$41.28

-5.40%

$50.04

-21.95%

 

 

NEISO Mass On Peak

Apr-23

$41.36

$40.45

2.26%

$0.91

$45.20

-8.49%

$52.16

-20.71%

 

 

WECC Mid C On Peak

Apr-23

$75.62

$69.88

8.22%

$5.74

$64.98

16.39%

$30.52

147.79%

 

 

NYISO Zone G On Peak

Apr-23

$37.65

$36.57

2.96%

$1.08

$40.40

-6.80%

$41.93

-10.19%

 

 

 

 

 

Natural Gas & Basis

 

 

 

EOXLive Market Data

 

 

 

Contract

3/16/23

3/15/23

% Change

Change

2/15/23

% Change

3/16/22

% Change

 

 

NYMEX Henry Hub

Apr-23

$2.514

$2.439

3.08%

$0.08

$2.56

-1.60%

$3.61

-30.40%

 

 

Houston Ship Channel

Apr-23

-$0.293

-$0.281

4.24%

-$0.01

-$0.24

21.55%

-$0.15

95.13%

 

 

Chicago

Apr-23

$0.020

$0.021

8.63%

$0.00

$0.05

-61.90%

-$0.16

-112.12%

 

 

Waha

Apr-23

-$1.695

-$1.622

-4.51%

-$0.07

-$1.10

53.48%

-$2.04

-16.92%

 

 

Algonquin

Apr-23

$0.267

$0.289

-7.61%

-$0.02

$0.62

-56.68%

$0.45

-41.07%

 

 

Aeco

Apr-23

-$0.366

-$0.426

-14.00%

$0.06

-$0.65

-43.63%

-$0.91

-59.72%

 

 

Socal

Apr-23

$0.697

$0.662

5.26%

$0.03

$0.35

100.78%

-$0.48

-245.92%

 

 

 

 

 

Natural Gas Liquids

 

 

 

EOXLive Market Data

 

 

 

Contract

3/16/23

3/15/23

% Change

Change

2/15/23

% Change

3/16/22

% Change

 

 

Mt. Belvieu Propane LST

Apr-23

$0.680

$0.700

-2.91%

-$0.02

$0.83

-17.88%

$0.98

-30.52%

 

 

Mt. Belvieu Propane non LST

Apr-23

$0.690

$0.715

-3.44%

-$0.02

$0.83

-16.87%

$0.96

-28.21%

 

 

Mt. Belview Ethane

Apr-23

$0.233

$0.243

-4.10%

-$0.01

$0.24

-1.71%

$0.32

-25.99%

 

 

Mt. Belview Nat. Gasoline

Apr-23

$1.410

$1.541

-8.48%

-$0.13

$1.66

-15.24%

$1.79

-21.31%

 

 

Mt. Belvieu Butane LST

Apr-23

$0.837

$0.942

-11.14%

-$0.10

$1.03

-18.58%

$1.13

-25.63%

 

 

Conway Propane

Apr-23

$0.670

$0.672

-0.30%

$0.00

$0.78

-13.97%

$0.98

-31.68%

 

 

Conway Nat. Gasoline

Apr-23

$1.421

$1.549

-8.26%

-$0.13

$1.70

-16.43%

$1.81

-21.49%

 

 

 

 

Crude Oil

 

 

 

EOXLive Market Data

 

 

 

Contract

3/16/23

3/15/23

% Change

Change

2/15/23

% Change

3/16/22

% Change

 

 

WTI

May-23

$68.52

$67.74

1.14%

$0.78

$79.02

-13.29%

$78.89

-13.14%

 

 

Brent

May-23

$74.70

$73.69

1.35%

$1.01

$85.05

-12.17%

$83.99

-11.06%

 

 

WCS

May-23

-$16.93

-$15.25

9.95%

-$1.68

-$17.18

-1.43%

-$14.81

14.30%

 

 

LLS

May-23

$71.32

$70.20

1.57%

$1.12

$81.66

-12.66%

$82.07

-13.09%

 

 

Mars

May-23

$67.90

$67.79

0.16%

$0.11

$77.01

-11.84%

$78.26

-13.24%

 

 

Sour

May-23

$68.04

$66.80

1.82%

$1.24

$77.15

-11.82%

$79.58

-14.51%

 

 

ESPO

May-23

$73.05

$71.32

2.37%

$1.73

$82.49

-11.45%

$86.67

-15.72%

 

 

 

 

Refined Products

 

 

 

EOXLive Market Data

 

 

 

Contract

3/16/23

3/15/23

% Change

Change

2/15/23

% Change

3/16/22

% Change

 

 

NY Heating Oil

Apr-23

$2.64

$2.61

1.34%

$0.03

$2.82

-6.41%

$2.65

-0.11%

 

 

NY Gasoline

Apr-23

$2.44

$2.44

0.12%

$0.00

$2.69

-9.15%

$2.46

-0.61%

 

 

GC Gasoline

Apr-23

$2.34

$2.34

0.13%

$0.00

$2.59

-9.51%

$2.36

-0.64%

 

 

GC Jet

Apr-23

$2.14

$2.34

-8.63%

-$0.20

$2.55

-16.22%

$2.38

-10.13%

 

 

Chicago Ethanol

Apr-23

$2.22

$2.18

1.69%

$0.04

$2.19

1.23%

$2.09

6.26%

 

 

Rotterdam Gasoil

Apr-23

$687.55

$681.55

0.88%

$6.00

$771.05

-10.83%

$719.55

-4.45%

 

 

Singapore Jet Kero

Apr-23

$94.61

$95.30

-0.72%

-$0.69

$102.25

-7.47%

$97.45

-2.91%

 

 

 

 

Implied Volatilities

 

 

 

EOXLive Market Data

 

 

 

Contract

3/16/23

3/15/23

% Change

Change

2/15/23

% Change

3/16/22

% Change

 

 

Henry Hub Straddle

Apr-23

84.23%

83.95%

0.33%

0.28%

88.58%

-4.91%

39.33%

114.16%

 

 

Algonquin Straddle

Apr-23

71.95%

79.44%

-9.43%

-7.49%

80.89%

-11.05%

44.65%

61.14%

 

 

Waha Straddle

Apr-23

144.30%

143.55%

0.52%

0.75%

249.63%

-42.19%

106.97%

34.90%

 

 

Chicago Straddle

Apr-23

83.84%

86.79%

-3.40%

-2.95%

89.10%

-5.90%

44.72%

87.48%

 

 

PJM West Straddle

Apr-23

70.54%

72.44%

-2.62%

-1.90%

73.33%

-3.80%

45.30%

55.72%

 

 

SP – 15 Straddle

Apr-23

86.17%

100.28%

-14.07%

-14.11%

79.11%

8.92%

22.03%

291.15%

 

 

Mid. C Straddle

Apr-23

241.36%

156.71%

54.02%

84.65%

139.02%

73.62%

34.43%

601.02%

 

 

 

 

Euro Gas and Power/LNG

 

 

EOXLive Market Data

 

 

 

Contract

3/16/23

3/15/23

% Change

Change

2/15/23

% Change

3/16/22

% Change

 

 

Dutch TTF

Apr-23

EUR 44.65

EUR 43.75

2.06%

EUR 0.90

EUR 54.12

-17.49%

EUR 59.90

-25.47%

 

 

NBP

Apr-23

GBP 110.00

GBP 108.24

1.63%

GBP 1.76

GBP 134.61

-18.28%

GBP 161.99

-32.10%

 

 

German Base

Apr-23

EUR 102.65

EUR 104.00

-1.30%

-EUR 1.35

EUR 130.75

-21.49%

EUR 141.04

-27.22%

 

 

UK Base

Apr-23

GBP 116.89

GBP 115.89

0.87%

GBP 1.00

GBP 140.27

-16.67%

GBP 116.16

0.63%

 

 

French Base

Apr-23

EUR 114.82

EUR 114.57

0.22%

EUR 0.25

EUR 148.71

-22.79%

EUR 136.57

-15.93%

 

 

Italian Base

Apr-23

EUR 126.75

EUR 128.87

-1.65%

-EUR 2.12

EUR 157.37

-19.46%

EUR 146.24

-13.33%

 

 

JKM LNG

Apr-23

$13.91

$13.60

2.26%

$0.31

$15.51

-10.34%

$20.29

-31.45%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

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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