Morning Report: Gas * Power * NGL * Crude * Products * Vols — Mar-21-2023

Mar 21, 2023

  

 

 

 

 

 

 

 

 

 

Prices as of 9:09 AM CST

 

 

 

 

 

 

 

Current Price

Previous Settle

% Change

Change

Volume

 

 

Natural Gas

$2.191

$2.223

-1.44%

-$0.032

44,845

 

 

WTI

$69.35

$67.64

2.53%

$1.71

2,848

 

 

Brent

$75.00

$73.79

1.64%

$1.21

7,882

 

 

ULSD

$2.687

$2.687

0.01%

$0.000

7,526

 

 

RBOB

$2.560

$2.536

0.96%

$0.024

5,529

 

 

 

 

Spreads

 

 

 

 

 

 

 

Current

Previous

% Change

Change

Contract

 

 

WTI-Brent

$5.86

$5.97

-1.84%

-$0.11

May-23

 

 

3:2:1 Crack

$37.30

$37.90

-1.60%

-$0.60

Apr-23

 

 

PJM West Spark

$30.37

$30.98

-1.95%

-$0.60

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

3/20/23

3/17/23

% Change

Change

2/17/23

% Change

3/18/22

% Change

 

 

PJM West On Peak

Apr-23

$35.06

$35.73

-1.89%

-$0.67

$36.36

-3.58%

$48.99

-28.44%

 

 

ERCOT North On Peak

Apr-23

$30.93

$31.46

-1.68%

-$0.53

$31.49

-1.78%

$44.48

-30.45%

 

 

CAISO SP 15 On Peak

Apr-23

$45.46

$44.98

1.07%

$0.48

$35.98

26.34%

$27.38

66.01%

 

 

MISO Indiana On Peak

Apr-23

$36.67

$37.74

-2.84%

-$1.07

$39.62

-7.46%

$50.04

-26.73%

 

 

NEISO Mass On Peak

Apr-23

$38.60

$40.35

-4.35%

-$1.76

$42.79

-9.80%

$52.80

-26.90%

 

 

WECC Mid C On Peak

Apr-23

$79.76

$82.33

-3.13%

-$2.58

$65.19

22.34%

$31.35

154.44%

 

 

NYISO Zone G On Peak

Apr-23

$34.52

$36.22

-4.70%

-$1.70

$38.45

-10.23%

$43.43

-20.51%

 

 

 

 

 

Natural Gas & Basis

 

 

 

EOXLive Market Data

 

 

 

Contract

3/20/23

3/17/23

% Change

Change

2/17/23

% Change

3/18/22

% Change

 

 

NYMEX Henry Hub

Apr-23

$2.223

$2.338

-4.92%

-$0.12

$2.35

-5.48%

$3.65

-39.03%

 

 

Houston Ship Channel

Apr-23

-$0.302

-$0.299

0.94%

$0.00

-$0.20

54.58%

-$0.16

94.77%

 

 

Chicago

Apr-23

$0.020

$0.006

-70.30%

$0.01

$0.08

-75.87%

-$0.16

-112.45%

 

 

Waha

Apr-23

-$1.764

-$1.668

-5.74%

-$0.10

-$1.13

55.61%

-$2.07

-14.99%

 

 

Algonquin

Apr-23

$0.180

$0.216

-16.77%

-$0.04

$0.62

-70.88%

$0.40

-54.51%

 

 

Aeco

Apr-23

-$0.199

-$0.435

-54.11%

$0.24

-$0.35

-42.47%

-$0.93

-78.56%

 

 

Socal

Apr-23

$0.901

$0.868

3.84%

$0.03

$0.47

92.44%

-$0.48

-288.73%

 

 

 

 

 

Natural Gas Liquids

 

 

 

EOXLive Market Data

 

 

 

Contract

3/20/23

3/17/23

% Change

Change

2/17/23

% Change

3/18/22

% Change

 

 

Mt. Belvieu Propane LST

Apr-23

$0.712

$0.723

-1.39%

-$0.01

$0.80

-11.22%

$1.03

-31.02%

 

 

Mt. Belvieu Propane non LST

Apr-23

$0.710

$0.726

-2.15%

-$0.02

$0.81

-12.75%

$1.01

-30.04%

 

 

Mt. Belview Ethane

Apr-23

$0.231

$0.245

-5.62%

-$0.01

$0.23

-0.65%

$0.32

-27.65%

 

 

Mt. Belview Nat. Gasoline

Apr-23

$1.416

$1.447

-2.12%

-$0.03

$1.65

-14.16%

$1.83

-22.63%

 

 

Mt. Belvieu Butane LST

Apr-23

$0.839

$0.840

-0.10%

$0.00

$1.03

-18.84%

$1.17

-28.37%

 

 

Conway Propane

Apr-23

$0.686

$0.691

-0.82%

-$0.01

$0.77

-11.38%

$1.01

-32.36%

 

 

Conway Nat. Gasoline

Apr-23

$1.431

$1.449

-1.21%

-$0.02

$1.68

-14.99%

$1.81

-20.90%

 

 

 

 

Crude Oil

 

 

 

EOXLive Market Data

 

 

 

Contract

3/20/23

3/17/23

% Change

Change

2/17/23

% Change

3/18/22

% Change

 

 

WTI

May-23

$67.82

$66.93

1.31%

$0.89

$76.70

-11.58%

$84.26

-19.51%

 

 

Brent

May-23

$73.79

$72.97

1.11%

$0.82

$82.67

-10.74%

$89.69

-17.73%

 

 

WCS

May-23

-$15.40

-$16.17

-5.00%

$0.77

-$16.74

-8.00%

-$12.30

25.20%

 

 

LLS

May-23

$68.82

$69.47

-0.93%

-$0.64

$79.59

-13.53%

$86.52

-20.45%

 

 

Mars

May-23

$67.18

$65.87

1.95%

$1.31

$74.85

-10.25%

$82.71

-18.78%

 

 

Sour

May-23

$66.92

$65.72

1.79%

$1.20

$74.94

-10.70%

$83.64

-19.99%

 

 

ESPO

May-23

$71.39

$71.79

-0.55%

-$0.40

$79.95

-10.70%

$88.30

-19.15%

 

 

 

 

Refined Products

 

 

 

EOXLive Market Data

 

 

 

Contract

3/20/23

3/17/23

% Change

Change

2/17/23

% Change

3/18/22

% Change

 

 

NY Heating Oil

Apr-23

$2.69

$2.68

0.30%

$0.01

$2.70

-0.59%

$2.70

-0.63%

 

 

NY Gasoline

Apr-23

$2.54

$2.50

1.52%

$0.04

$2.60

-2.46%

$2.59

-2.24%

 

 

GC Gasoline

Apr-23

$2.43

$2.40

1.59%

$0.04

$2.50

-2.56%

$2.49

-2.33%

 

 

GC Jet

Apr-23

$2.22

$2.41

-7.89%

-$0.19

$2.42

-8.23%

$2.53

-12.26%

 

 

Chicago Ethanol

Apr-23

$2.24

$2.25

-0.31%

-$0.01

$2.24

0.27%

$1.89

18.80%

 

 

Rotterdam Gasoil

Apr-23

$708.10

$711.44

-0.47%

-$3.34

$748.21

-5.36%

$720.37

-1.70%

 

 

Singapore Jet Kero

Apr-23

$96.35

$95.53

0.86%

$0.82

$99.36

-3.03%

$101.29

-4.89%

 

 

 

 

Implied Volatilities

 

 

 

EOXLive Market Data

 

 

 

Contract

3/20/23

3/17/23

% Change

Change

2/17/23

% Change

3/18/22

% Change

 

 

Henry Hub Straddle

May-23

89.55%

95.54%

-6.27%

-5.99%

86.81%

3.16%

39.27%

128.04%

 

 

Algonquin Straddle

May-23

97.18%

101.69%

-4.44%

-4.51%

91.45%

6.27%

47.15%

106.11%

 

 

Waha Straddle

May-23

275.07%

229.89%

19.65%

45.18%

241.82%

13.75%

102.11%

169.39%

 

 

Chicago Straddle

May-23

93.26%

99.06%

-5.86%

-5.80%

87.59%

6.47%

40.92%

127.91%

 

 

PJM West Straddle

May-23

85.07%

76.05%

11.86%

9.02%

65.02%

30.84%

45.52%

86.88%

 

 

SP – 15 Straddle

May-23

54.36%

50.95%

6.69%

3.41%

58.84%

-7.61%

22.01%

146.98%

 

 

Mid. C Straddle

May-23

183.76%

176.78%

3.95%

6.98%

125.87%

45.99%

37.15%

394.64%

 

 

 

 

Euro Gas and Power/LNG

 

 

EOXLive Market Data

 

 

 

Contract

3/20/23

3/17/23

% Change

Change

2/17/23

% Change

3/18/22

% Change

 

 

Dutch TTF

May-23

EUR 39.50

EUR 43.60

-9.40%

-EUR 4.10

EUR 49.55

-20.28%

EUR 56.79

-30.45%

 

 

NBP

May-23

GBP 96.50

GBP 107.13

-9.92%

-GBP 10.63

GBP 124.15

-22.27%

GBP 145.21

-33.55%

 

 

German Base

May-23

EUR 103.60

EUR 109.74

-5.60%

-EUR 6.14

EUR 128.80

-19.56%

EUR 138.13

-25.00%

 

 

UK Base

May-23

GBP 100.01

GBP 109.79

-8.91%

-GBP 9.78

GBP 133.75

-25.23%

GBP 131.59

-24.00%

 

 

French Base

May-23

EUR 109.39

EUR 116.16

-5.83%

-EUR 6.77

EUR 137.08

-20.20%

EUR 136.56

-19.90%

 

 

Italian Base

May-23

EUR 121.36

EUR 128.05

-5.22%

-EUR 6.69

EUR 150.82

-19.53%

EUR 145.47

-16.57%

 

 

JKM LNG

May-23

$13.65

$14.01

-2.58%

-$0.36

$14.80

-7.77%

$23.17

-41.10%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

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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