Morning Report: Gas * Power * NGL * Crude * Products * Vols — Mar-20-2023

Mar 20, 2023

  

 

 

 

 

 

 

 

 

 

Prices as of 8:25 AM CST

 

 

 

 

 

 

 

Current Price

Previous Settle

% Change

Change

Volume

 

 

Natural Gas

$2.375

$2.338

1.58%

$0.037

21,585

 

 

WTI

$66.80

$66.74

0.09%

$0.06

14,899

 

 

Brent

$73.07

$72.97

0.14%

$0.10

9,918

 

 

ULSD

$2.717

$2.679

1.41%

$0.038

5,153

 

 

RBOB

$2.525

$2.502

0.96%

$0.024

5,229

 

 

 

 

Spreads

 

 

 

 

 

 

 

Current

Previous

% Change

Change

Contract

 

 

WTI-Brent

$6.07

$6.04

0.50%

$0.03

May-23

 

 

3:2:1 Crack

$38.58

$37.77

2.12%

$0.80

Apr-23

 

 

PJM West Spark

$30.65

$31.89

-3.90%

-$1.24

Apr-23

 

 

 

 

Baker Hughes Rig Count

 

 

 

 

 

 

 

Date

Count

Change

1 Year Chg.

1 Year Date

 

 

U.S.

03/17/23

754

8

91

03/18/22

 

 

Canada

03/17/23

207

-16

31

03/18/22

 

 

International

Feb

915

14

102

Feb

 

 

 

 

CFTC Net Positions

 

 

 

 

 

 

As of 3/7/2023

Open Interest

Total Net Long

Total Net Short

Diff

 

 

PJM West On Peak

90,464

90,065

90,070

-5

 

 

PJM West Off Peak

79,948

79,333

79,382

-49

 

 

Natural Gas Henry Hub

441,690

411,916

431,326

-19,410

 

 

WTI – Light Sweet Crude Futures

131,152

96,735

103,168

-6,433

 

 

Brent Crude Last Day

142,434

135,098

136,321

-1,223

 

 

NYM Ethanol

28,078

27,577

27,739

-162

 

 

Mt Belvieu LDH Propane Swap

137,082

136,293

136,647

-354

 

 

RBOB

312,852

286,984

296,252

-9,268

 

 

HSC Basis

584,341

578,004

575,386

2,618

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

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

3/17/23

3/16/23

% Change

Change

2/16/23

% Change

3/17/22

% Change

 

 

PJM West On Peak

Apr-23

$35.73

$36.90

-3.15%

-$1.16

$39.08

-8.56%

$49.34

-27.59%

 

 

ERCOT North On Peak

Apr-23

$31.46

$32.52

-3.25%

-$1.06

$34.25

-8.15%

$45.54

-30.92%

 

 

CAISO SP 15 On Peak

Apr-23

$44.98

$41.85

7.47%

$3.13

$40.45

11.19%

$27.74

62.16%

 

 

MISO Indiana On Peak

Apr-23

$37.74

$39.05

-3.36%

-$1.31

$42.51

-11.22%

$50.43

-25.16%

 

 

NEISO Mass On Peak

Apr-23

$40.35

$41.36

-2.45%

-$1.01

$46.18

-12.61%

$51.19

-21.17%

 

 

WECC Mid C On Peak

Apr-23

$82.33

$75.62

8.87%

$6.71

$64.85

26.95%

$31.82

158.70%

 

 

NYISO Zone G On Peak

Apr-23

$36.22

$37.65

-3.81%

-$1.43

$41.25

-12.19%

$42.84

-15.45%

 

 

 

 

 

Natural Gas & Basis

 

 

 

EOXLive Market Data

 

 

 

Contract

3/17/23

3/16/23

% Change

Change

2/16/23

% Change

3/17/22

% Change

 

 

NYMEX Henry Hub

Apr-23

$2.338

$2.514

-7.00%

-$0.18

$2.48

-5.92%

$3.66

-36.05%

 

 

Houston Ship Channel

Apr-23

-$0.299

-$0.293

2.19%

-$0.01

-$0.24

22.43%

-$0.16

91.61%

 

 

Chicago

Apr-23

$0.006

$0.020

228.33%

-$0.01

$0.05

-86.84%

-$0.17

-103.46%

 

 

Waha

Apr-23

-$1.668

-$1.695

-1.58%

$0.03

-$1.08

54.71%

-$2.14

-22.15%

 

 

Algonquin

Apr-23

$0.216

$0.267

-19.01%

-$0.05

$0.62

-65.23%

$0.40

-45.91%

 

 

Aeco

Apr-23

-$0.435

-$0.366

18.68%

-$0.07

-$0.65

-33.29%

-$0.89

-51.01%

 

 

Socal

Apr-23

$0.868

$0.697

24.58%

$0.17

$0.39

125.03%

-$0.48

-280.55%

 

 

 

 

 

Natural Gas Liquids

 

 

 

EOXLive Market Data

 

 

 

Contract

3/17/23

3/16/23

% Change

Change

2/16/23

% Change

3/17/22

% Change

 

 

Mt. Belvieu Propane LST

Apr-23

$0.723

$0.680

6.33%

$0.04

$0.82

-12.29%

$1.00

-27.83%

 

 

Mt. Belvieu Propane non LST

Apr-23

$0.726

$0.690

5.16%

$0.04

$0.82

-11.51%

$1.03

-29.83%

 

 

Mt. Belview Ethane

Apr-23

$0.245

$0.233

4.86%

$0.01

$0.23

4.17%

$0.32

-24.62%

 

 

Mt. Belview Nat. Gasoline

Apr-23

$1.447

$1.410

2.62%

$0.04

$1.71

-15.15%

$1.76

-17.84%

 

 

Mt. Belvieu Butane LST

Apr-23

$0.840

$0.837

0.40%

$0.00

$1.04

-19.30%

$1.19

-29.49%

 

 

Conway Propane

Apr-23

$0.691

$0.670

3.19%

$0.02

$0.80

-13.26%

$1.02

-32.01%

 

 

Conway Nat. Gasoline

Apr-23

$1.449

$1.421

1.94%

$0.03

$1.74

-16.70%

$1.76

-17.79%

 

 

 

 

Crude Oil

 

 

 

EOXLive Market Data

 

 

 

Contract

3/17/23

3/16/23

% Change

Change

2/16/23

% Change

3/17/22

% Change

 

 

WTI

May-23

$66.93

$68.52

-2.38%

-$1.59

$78.90

-15.17%

$83.55

-19.89%

 

 

Brent

May-23

$72.97

$74.70

-2.37%

-$1.73

$84.80

-13.95%

$88.70

-17.73%

 

 

WCS

May-23

-$16.17

-$16.93

-4.71%

$0.76

-$16.07

0.65%

-$13.70

18.01%

 

 

LLS

May-23

$69.47

$71.32

-2.67%

-$1.86

$81.73

-15.01%

$90.90

-23.58%

 

 

Mars

May-23

$65.87

$67.90

-3.08%

-$2.03

$76.79

-14.23%

$86.61

-23.95%

 

 

Sour

May-23

$65.72

$68.04

-3.52%

-$2.31

$76.76

-14.38%

$88.12

-25.42%

 

 

ESPO

May-23

$71.79

$73.05

-1.76%

-$1.26

$82.06

-12.52%

$83.90

-14.44%

 

 

 

 

Refined Products

 

 

 

EOXLive Market Data

 

 

 

Contract

3/17/23

3/16/23

% Change

Change

2/16/23

% Change

3/17/22

% Change

 

 

NY Heating Oil

Apr-23

$2.68

$2.64

1.36%

$0.04

$2.79

-3.84%

$2.67

0.26%

 

 

NY Gasoline

Apr-23

$2.50

$2.44

2.25%

$0.06

$2.63

-5.13%

$2.57

-2.69%

 

 

GC Gasoline

Apr-23

$2.40

$2.34

2.35%

$0.06

$2.53

-5.33%

$2.47

-2.80%

 

 

GC Jet

Apr-23

$2.41

$2.14

12.63%

$0.27

$2.45

-1.87%

$2.51

-3.87%

 

 

Chicago Ethanol

Apr-23

$2.25

$2.22

1.26%

$0.03

$2.21

1.81%

$2.20

2.27%

 

 

Rotterdam Gasoil

Apr-23

$711.44

$687.55

3.47%

$23.89

$766.68

-7.21%

$764.54

-6.95%

 

 

Singapore Jet Kero

Apr-23

$95.53

$94.61

0.96%

$0.91

$103.64

-7.83%

$94.62

0.96%

 

 

 

 

Implied Volatilities

 

 

 

EOXLive Market Data

 

 

 

Contract

3/17/23

3/16/23

% Change

Change

2/16/23

% Change

3/17/22

% Change

 

 

Henry Hub Straddle

May-23

95.54%

86.12%

10.94%

9.42%

74.02%

29.07%

34.57%

176.37%

 

 

Algonquin Straddle

May-23

101.69%

92.79%

9.59%

8.90%

80.51%

26.31%

38.38%

164.96%

 

 

Waha Straddle

May-23

229.89%

215.88%

6.49%

14.01%

259.07%

-11.26%

97.05%

136.88%

 

 

Chicago Straddle

May-23

99.06%

89.64%

10.51%

9.42%

77.57%

27.70%

36.73%

169.70%

 

 

PJM West Straddle

May-23

76.05%

75.94%

0.14%

0.11%

65.78%

15.61%

38.52%

97.43%

 

 

SP – 15 Straddle

May-23

50.95%

51.66%

-1.37%

-0.71%

41.23%

23.58%

21.94%

132.22%

 

 

Mid. C Straddle

May-23

176.78%

174.00%

1.60%

2.78%

123.48%

43.16%

36.65%

382.35%

 

 

 

 

Euro Gas and Power/LNG

 

 

EOXLive Market Data

 

 

 

Contract

3/17/23

3/16/23

% Change

Change

2/16/23

% Change

3/17/22

% Change

 

 

Dutch TTF

May-23

EUR 43.60

EUR 45.15

-3.43%

-EUR 1.55

EUR 52.35

-16.72%

EUR 55.26

-21.10%

 

 

NBP

May-23

GBP 107.13

GBP 112.11

-4.44%

-GBP 4.98

GBP 131.80

-18.72%

GBP 140.76

-23.89%

 

 

German Base

May-23

EUR 109.74

EUR 111.21

-1.32%

-EUR 1.47

EUR 130.31

-15.79%

EUR 139.91

-21.56%

 

 

UK Base

May-23

GBP 109.79

GBP 117.94

-6.92%

-GBP 8.16

GBP 137.56

-20.19%

GBP 131.80

-16.70%

 

 

French Base

May-23

EUR 116.16

EUR 119.54

-2.83%

-EUR 3.38

EUR 139.24

-16.58%

EUR 139.95

-17.00%

 

 

Italian Base

May-23

EUR 128.05

EUR 130.30

-1.72%

-EUR 2.24

EUR 153.32

-16.48%

EUR 149.77

-14.50%

 

 

JKM LNG

May-23

$14.01

$13.91

0.73%

$0.10

$15.14

-7.46%

$20.87

-32.89%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

Cooling Degree Days

 

 

 

 

 

 

03/18/2023

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

-1

0

NA

NA

 

 

W N Central

0

-1

0

0

-2

0

NA

NA

 

 

South Atlantic

8

-3

-3

116

26

18

NA

NA

 

 

E S Central

0

-5

0

18

-4

10

NA

NA

 

 

W S Central

4

-7

-2

85

30

48

NA

NA

 

 

Mountain

0

-1

-1

0

-8

-3

NA

NA

 

 

Pacific

0

-1

0

0

-5

0

NA

NA

 

 

United States

2

-2

-1

32

6

9

NA

NA

 

 

 

 

Heating Degree Days

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

03/18/2023

Week Tot

Dev Norm

Dev L YR

Cum Tot

CumD Norm

CumD L YR

CumD Norm

CumD L YR

 

 

New England

190

-19

23

4,573

-763

-265

-14.00%

-5.00%

 

 

Middle Atlantic

189

0

35

4,166

-685

-110

-14.00%

-3.00%

 

 

E N Central

233

35

66

4,796

-584

-58

-11.00%

-1.00%

 

 

W N Central

252

55

73

5,494

-212

250

-4.00%

5.00%

 

 

South Atlantic

109

23

26

2,091

-385

14

-16.00%

1.00%

 

 

E S Central

148

44

34

2,665

-482

-59

-15.00%

-2.00%

 

 

W S Central

84

23

11

1,873

-215

96

-10.00%

5.00%

 

 

Mountain

166

22

26

4,478

253

598

6.00%

15.00%

 

 

Pacific

107

12

28

2,793

285

432

11.00%

18.00%

 

 

United States

157

21

36

3,454

-310

94

-8.00%

3.00%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

Weather Forecast & Seasonal Outlook

 

 

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