Morning Report: Gas * Power * NGL * Crude * Products * Vols — Mar-22-2023

Mar 22, 2023

  

 

 

 

 

 

 

 

 

 

Prices as of 8:36 AM CST

 

 

 

 

 

 

 

Current Price

Previous Settle

% Change

Change

Volume

 

 

Natural Gas

$2.257

$2.348

-3.88%

-$0.091

24,556

 

 

WTI

$69.81

$69.33

0.69%

$0.48

89,737

 

 

Brent

$75.48

$75.32

0.21%

$0.16

7,144

 

 

ULSD

$2.736

$2.690

1.71%

$0.046

4,372

 

 

RBOB

$2.559

$2.539

0.78%

$0.020

2,779

 

 

 

 

Spreads

 

 

 

 

 

 

 

Current

Previous

% Change

Change

Contract

 

 

WTI-Brent

$5.66

$5.65

0.18%

$0.01

May-23

 

 

3:2:1 Crack

$37.49

$36.53

2.62%

$0.96

May-23

 

 

PJM West Spark

$30.32

$30.03

0.96%

$0.29

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

3/21/23

3/20/23

% Change

Change

2/21/23

% Change

3/21/22

% Change

 

 

PJM West On Peak

Apr-23

$35.18

$35.06

0.35%

$0.12

$35.39

-0.61%

$49.37

-28.74%

 

 

ERCOT North On Peak

Apr-23

$30.84

$30.93

-0.29%

-$0.09

$30.39

1.47%

$44.36

-30.48%

 

 

CAISO SP 15 On Peak

Apr-23

$44.52

$45.46

-2.08%

-$0.95

$37.13

19.90%

$27.74

60.45%

 

 

MISO Indiana On Peak

Apr-23

$36.73

$36.67

0.16%

$0.06

$38.67

-5.02%

$50.63

-27.46%

 

 

NEISO Mass On Peak

Apr-23

$37.67

$38.60

-2.40%

-$0.92

$41.30

-8.79%

$53.07

-29.01%

 

 

WECC Mid C On Peak

Apr-23

$89.14

$79.76

11.76%

$9.38

$61.98

43.82%

$31.13

186.31%

 

 

NYISO Zone G On Peak

Apr-23

$34.48

$34.52

-0.10%

-$0.03

$36.92

-6.60%

$43.77

-21.21%

 

 

 

 

 

Natural Gas & Basis

 

 

 

EOXLive Market Data

 

 

 

Contract

3/21/23

3/20/23

% Change

Change

2/21/23

% Change

3/21/22

% Change

 

 

NYMEX Henry Hub

Apr-23

$2.348

$2.223

5.62%

$0.13

$2.18

7.85%

$3.69

-36.33%

 

 

Houston Ship Channel

Apr-23

-$0.325

-$0.302

7.55%

-$0.02

-$0.28

17.69%

-$0.17

91.68%

 

 

Chicago

Apr-23

$0.016

$0.020

24.69%

$0.00

$0.04

-60.20%

-$0.17

-109.66%

 

 

Waha

Apr-23

-$1.765

-$1.764

-0.05%

$0.00

-$1.14

54.68%

-$2.11

-16.22%

 

 

Algonquin

Apr-23

$0.149

$0.180

-17.10%

-$0.03

$0.55

-72.91%

$0.40

-62.47%

 

 

Aeco

Apr-23

-$0.290

-$0.199

45.39%

-$0.09

-$0.37

-22.05%

-$0.94

-69.16%

 

 

Socal

Apr-23

$0.996

$0.901

10.54%

$0.09

$0.59

69.30%

-$0.48

-308.32%

 

 

 

 

 

Natural Gas Liquids

 

 

 

EOXLive Market Data

 

 

 

Contract

3/21/23

3/20/23

% Change

Change

2/21/23

% Change

3/21/22

% Change

 

 

Mt. Belvieu Propane LST

Apr-23

$0.730

$0.712

2.46%

$0.02

$0.83

-11.52%

$1.08

-32.24%

 

 

Mt. Belvieu Propane non LST

Apr-23

$0.734

$0.710

3.35%

$0.02

$0.83

-11.41%

$1.07

-31.51%

 

 

Mt. Belview Ethane

Apr-23

$0.225

$0.231

-2.53%

-$0.01

$0.24

-6.39%

$0.33

-31.64%

 

 

Mt. Belview Nat. Gasoline

Apr-23

$1.464

$1.416

3.39%

$0.05

$1.66

-11.92%

$1.89

-22.46%

 

 

Mt. Belvieu Butane LST

Apr-23

$0.850

$0.839

1.23%

$0.01

$1.05

-19.45%

$1.22

-30.63%

 

 

Conway Propane

Apr-23

$0.708

$0.686

3.21%

$0.02

$0.79

-10.71%

$1.06

-33.30%

 

 

Conway Nat. Gasoline

Apr-23

$1.462

$1.431

2.16%

$0.03

$1.70

-13.80%

$1.88

-22.07%

 

 

 

 

Crude Oil

 

 

 

EOXLive Market Data

 

 

 

Contract

3/21/23

3/20/23

% Change

Change

2/21/23

% Change

3/21/22

% Change

 

 

WTI

May-23

$69.67

$67.82

2.66%

$1.85

$76.53

-8.96%

$87.57

-20.44%

 

 

Brent

May-23

$75.32

$73.79

2.03%

$1.53

$82.77

-9.00%

$92.85

-18.88%

 

 

WCS

May-23

-$15.45

-$15.40

0.32%

-$0.05

-$17.35

-10.95%

-$13.19

17.13%

 

 

LLS

May-23

$71.82

$68.82

4.17%

$2.99

$79.10

-9.21%

$90.12

-20.31%

 

 

Mars

May-23

$69.18

$67.18

2.90%

$2.01

$75.51

-8.38%

$86.18

-19.72%

 

 

Sour

May-23

$69.31

$66.92

3.45%

$2.39

$74.69

-7.21%

$87.18

-20.50%

 

 

ESPO

May-23

$73.61

$71.39

3.01%

$2.22

$80.91

-9.02%

$88.73

-17.04%

 

 

 

 

Refined Products

 

 

 

EOXLive Market Data

 

 

 

Contract

3/21/23

3/20/23

% Change

Change

2/21/23

% Change

3/21/22

% Change

 

 

NY Heating Oil

Apr-23

$2.70

$2.69

0.37%

$0.01

$2.77

-2.74%

$2.82

-4.36%

 

 

NY Gasoline

Apr-23

$2.53

$2.54

-0.08%

$0.00

$2.63

-3.76%

$2.74

-7.62%

 

 

GC Gasoline

Apr-23

$2.43

$2.43

-0.08%

$0.00

$2.53

-3.91%

$2.64

-7.91%

 

 

GC Jet

Apr-23

$2.35

$2.22

5.91%

$0.13

$2.76

-14.98%

$2.62

-10.38%

 

 

Chicago Ethanol

Apr-23

$2.27

$2.24

1.07%

$0.02

$2.24

1.30%

$2.25

0.76%

 

 

Rotterdam Gasoil

Apr-23

$708.90

$708.10

0.11%

$0.80

$751.74

-5.70%

$875.16

-19.00%

 

 

Singapore Jet Kero

Apr-23

$95.00

$96.35

-1.39%

-$1.34

$101.30

-6.22%

$106.67

-10.94%

 

 

 

 

Implied Volatilities

 

 

 

EOXLive Market Data

 

 

 

Contract

3/21/23

3/20/23

% Change

Change

2/21/23

% Change

3/21/22

% Change

 

 

Henry Hub Straddle

May-23

92.31%

89.55%

3.08%

2.76%

104.08%

-11.31%

38.80%

137.91%

 

 

Algonquin Straddle

May-23

98.87%

97.18%

1.74%

1.69%

114.17%

-13.40%

39.83%

148.23%

 

 

Waha Straddle

May-23

276.16%

275.07%

0.40%

1.09%

232.49%

18.78%

96.80%

185.29%

 

 

Chicago Straddle

May-23

94.44%

93.26%

1.27%

1.18%

111.65%

-15.41%

41.68%

126.58%

 

 

PJM West Straddle

May-23

74.16%

85.07%

-12.82%

-10.91%

64.09%

15.71%

45.44%

63.20%

 

 

SP – 15 Straddle

May-23

71.05%

54.36%

30.70%

16.69%

54.86%

29.51%

21.95%

223.69%

 

 

Mid. C Straddle

May-23

180.37%

183.76%

-1.84%

-3.39%

130.77%

37.93%

37.08%

386.43%

 

 

 

 

Euro Gas and Power/LNG

 

 

EOXLive Market Data

 

 

 

Contract

3/21/23

3/20/23

% Change

Change

2/21/23

% Change

3/21/22

% Change

 

 

Dutch TTF

May-23

EUR 41.94

EUR 39.50

6.16%

EUR 2.44

EUR 49.69

-15.61%

EUR 57.66

-27.27%

 

 

NBP

May-23

GBP 103.70

GBP 96.50

7.46%

GBP 7.20

GBP 121.33

-14.53%

GBP 133.43

-22.28%

 

 

German Base

May-23

EUR 104.60

EUR 103.60

0.97%

EUR 1.00

EUR 126.94

-17.60%

EUR 138.56

-24.51%

 

 

UK Base

May-23

GBP 111.93

GBP 100.01

11.92%

GBP 11.92

GBP 130.59

-14.29%

GBP 125.12

-10.55%

 

 

French Base

May-23

EUR 111.94

EUR 109.39

2.33%

EUR 2.55

EUR 132.33

-15.41%

EUR 132.54

-15.54%

 

 

Italian Base

May-23

EUR 126.26

EUR 121.36

4.04%

EUR 4.90

EUR 143.68

-12.12%

EUR 140.87

-10.37%

 

 

JKM LNG

May-23

$14.00

$13.65

2.59%

$0.35

$14.40

-2.78%

$21.81

-35.81%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

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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