Morning Report: Gas * Power * NGL * Crude * Products * Vols — Mar-23-2023

Mar 23, 2023

  

 

 

 

 

 

 

 

 

 

Prices as of 8:24 AM CST

 

 

 

 

 

 

 

Current Price

Previous Settle

% Change

Change

Volume

 

 

Natural Gas

$2.164

$2.171

-0.32%

-$0.007

14,179

 

 

WTI

$70.61

$70.90

-0.41%

-$0.29

78,611

 

 

Brent

$76.39

$76.69

-0.39%

-$0.30

5,136

 

 

ULSD

$2.706

$2.740

-1.25%

-$0.034

3,918

 

 

RBOB

$2.608

$2.593

0.57%

$0.015

1,580

 

 

 

 

Spreads

 

 

 

 

 

 

 

Current

Previous

% Change

Change

Contract

 

 

WTI-Brent

$5.79

$5.79

0.00%

$0.00

May-23

 

 

3:2:1 Crack

$37.62

$37.27

0.93%

$0.35

May-23

 

 

PJM West Spark

$29.21

$30.53

-4.35%

-$1.33

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

3/22/23

3/21/23

% Change

Change

2/22/23

% Change

3/22/22

% Change

 

 

PJM West On Peak

Apr-23

$33.84

$35.18

-3.82%

-$1.34

$35.82

-5.54%

$49.78

-32.03%

 

 

ERCOT North On Peak

Apr-23

$29.71

$30.84

-3.66%

-$1.13

$32.03

-7.25%

$45.88

-35.23%

 

 

CAISO SP 15 On Peak

Apr-23

$43.66

$44.52

-1.91%

-$0.85

$37.62

16.06%

$28.45

53.47%

 

 

MISO Indiana On Peak

Apr-23

$35.01

$36.73

-4.68%

-$1.72

$39.51

-11.38%

$51.05

-31.42%

 

 

NEISO Mass On Peak

Apr-23

$39.12

$37.67

3.86%

$1.45

$41.94

-6.72%

$54.29

-27.94%

 

 

WECC Mid C On Peak

Apr-23

$78.90

$89.14

-11.49%

-$10.24

$64.87

21.63%

$31.36

151.59%

 

 

NYISO Zone G On Peak

Apr-23

$36.11

$34.48

4.71%

$1.62

$36.32

-0.59%

$44.11

-18.15%

 

 

 

 

 

Natural Gas & Basis

 

 

 

EOXLive Market Data

 

 

 

Contract

3/22/23

3/21/23

% Change

Change

2/22/23

% Change

3/22/22

% Change

 

 

NYMEX Henry Hub

Apr-23

$2.171

$2.348

-7.54%

-$0.18

$2.30

-5.53%

$3.79

-42.64%

 

 

Houston Ship Channel

Apr-23

-$0.350

-$0.325

7.64%

-$0.02

-$0.23

52.62%

-$0.18

90.98%

 

 

Chicago

Apr-23

$0.018

$0.016

-10.99%

$0.00

$0.06

-67.90%

-$0.17

-110.65%

 

 

Waha

Apr-23

-$1.621

-$1.765

-8.13%

$0.14

-$1.13

43.24%

-$2.13

-23.81%

 

 

Algonquin

Apr-23

$0.112

$0.149

-24.65%

-$0.04

$0.55

-79.62%

$0.37

-69.60%

 

 

Aeco

Apr-23

-$0.275

-$0.290

-5.07%

$0.01

-$0.42

-33.94%

-$0.95

-71.13%

 

 

Socal

Apr-23

$0.645

$0.996

-35.26%

-$0.35

$0.75

-13.48%

-$0.48

-234.95%

 

 

 

 

 

Natural Gas Liquids

 

 

 

EOXLive Market Data

 

 

 

Contract

3/22/23

3/21/23

% Change

Change

2/22/23

% Change

3/22/22

% Change

 

 

Mt. Belvieu Propane LST

Apr-23

$0.755

$0.730

3.43%

$0.03

$0.81

-6.93%

$1.09

-30.53%

 

 

Mt. Belvieu Propane non LST

Apr-23

$0.757

$0.734

3.18%

$0.02

$0.81

-6.25%

$1.09

-30.41%

 

 

Mt. Belview Ethane

Apr-23

$0.233

$0.225

3.28%

$0.01

$0.22

4.70%

$0.31

-24.64%

 

 

Mt. Belview Nat. Gasoline

Apr-23

$1.489

$1.464

1.70%

$0.02

$1.63

-8.42%

$1.94

-23.27%

 

 

Mt. Belvieu Butane LST

Apr-23

$0.864

$0.850

1.63%

$0.01

$1.03

-16.13%

$1.23

-29.71%

 

 

Conway Propane

Apr-23

$0.718

$0.708

1.40%

$0.01

$0.78

-7.70%

$1.06

-32.22%

 

 

Conway Nat. Gasoline

Apr-23

$1.510

$1.462

3.31%

$0.05

$1.65

-8.66%

$1.92

-21.48%

 

 

 

 

Crude Oil

 

 

 

EOXLive Market Data

 

 

 

Contract

3/22/23

3/21/23

% Change

Change

2/22/23

% Change

3/22/22

% Change

 

 

WTI

May-23

$70.90

$69.67

1.73%

$1.23

$74.19

-4.43%

$86.98

-18.49%

 

 

Brent

May-23

$76.69

$75.32

1.79%

$1.37

$80.45

-4.67%

$92.50

-17.09%

 

 

WCS

May-23

-$15.00

-$15.45

-3.01%

$0.45

-$17.66

-15.09%

-$11.78

27.28%

 

 

LLS

May-23

$73.21

$71.82

1.91%

$1.40

$76.99

-4.90%

$89.42

-18.12%

 

 

Mars

May-23

$69.82

$69.18

0.91%

$0.64

$74.13

-5.82%

$86.94

-19.69%

 

 

Sour

May-23

$69.99

$69.31

0.96%

$0.68

$72.93

-4.04%

$88.26

-20.70%

 

 

ESPO

May-23

$75.43

$73.61

2.41%

$1.82

$79.91

-5.61%

$89.29

-15.53%

 

 

 

 

Refined Products

 

 

 

EOXLive Market Data

 

 

 

Contract

3/22/23

3/21/23

% Change

Change

2/22/23

% Change

3/22/22

% Change

 

 

NY Heating Oil

Apr-23

$2.73

$2.70

1.19%

$0.03

$2.70

1.22%

$2.80

-2.67%

 

 

NY Gasoline

Apr-23

$2.58

$2.53

1.86%

$0.05

$2.54

1.61%

$2.65

-2.71%

 

 

GC Gasoline

Apr-23

$2.48

$2.43

1.93%

$0.05

$2.44

1.68%

$2.55

-2.82%

 

 

GC Jet

Apr-23

$2.53

$2.35

7.54%

$0.18

$2.48

1.73%

$2.60

-2.85%

 

 

Chicago Ethanol

Apr-23

$2.31

$2.27

1.90%

$0.04

$2.22

4.19%

$2.29

0.79%

 

 

Rotterdam Gasoil

Apr-23

$721.68

$708.90

1.80%

$12.79

$743.10

-2.88%

$768.95

-6.15%

 

 

Singapore Jet Kero

Apr-23

$95.41

$95.00

0.43%

$0.41

$100.91

-5.45%

$105.26

-9.36%

 

 

 

 

Implied Volatilities

 

 

 

EOXLive Market Data

 

 

 

Contract

3/22/23

3/21/23

% Change

Change

2/22/23

% Change

3/22/22

% Change

 

 

Henry Hub Straddle

May-23

102.42%

92.31%

10.95%

10.11%

86.81%

17.98%

37.09%

176.14%

 

 

Algonquin Straddle

May-23

107.83%

98.87%

9.06%

8.96%

85.97%

25.43%

41.75%

158.28%

 

 

Waha Straddle

May-23

266.98%

276.16%

-3.32%

-9.18%

227.28%

17.47%

90.23%

195.89%

 

 

Chicago Straddle

May-23

107.82%

94.44%

14.17%

13.38%

89.82%

20.04%

38.43%

180.56%

 

 

PJM West Straddle

May-23

72.79%

74.16%

-1.85%

-1.37%

68.62%

6.08%

45.31%

60.65%

 

 

SP – 15 Straddle

May-23

66.89%

71.05%

-5.86%

-4.16%

54.91%

21.82%

22.00%

204.05%

 

 

Mid. C Straddle

May-23

196.52%

180.37%

8.95%

16.15%

119.64%

64.26%

36.40%

439.89%

 

 

 

 

Euro Gas and Power/LNG

 

 

EOXLive Market Data

 

 

 

Contract

3/22/23

3/21/23

% Change

Change

2/22/23

% Change

3/22/22

% Change

 

 

Dutch TTF

May-23

EUR 40.58

EUR 41.94

-3.24%

-EUR 1.36

EUR 49.40

-17.86%

EUR 58.50

-30.64%

 

 

NBP

May-23

GBP 100.45

GBP 103.70

-3.13%

-GBP 3.25

GBP 122.30

-17.87%

GBP 135.76

-26.01%

 

 

German Base

May-23

EUR 104.50

EUR 104.60

-0.10%

-EUR 0.10

EUR 128.85

-18.90%

EUR 140.20

-25.47%

 

 

UK Base

May-23

GBP 103.33

GBP 111.93

-7.68%

-GBP 8.59

GBP 133.82

-22.78%

GBP 128.71

-19.71%

 

 

French Base

May-23

EUR 109.68

EUR 111.94

-2.02%

-EUR 2.26

EUR 133.33

-17.74%

EUR 132.41

-17.17%

 

 

Italian Base

May-23

EUR 125.42

EUR 126.26

-0.67%

-EUR 0.85

EUR 146.01

-14.10%

EUR 143.20

-12.42%

 

 

JKM LNG

May-23

$12.51

$14.00

-10.67%

-$1.49

$14.78

-15.38%

$25.75

-51.44%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

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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