Morning Report: Gas * Power * NGL * Crude * Products * Vols — Mar-24-2023

Mar 24, 2023

  

 

 

 

 

 

 

 

 

 

Prices as of 9:08 AM CST

 

 

 

 

 

 

 

Current Price

Previous Settle

% Change

Change

Volume

 

 

Natural Gas

$2.208

$2.154

2.51%

$0.054

15,975

 

 

WTI

$68.32

$69.96

-2.34%

-$1.64

185,729

 

 

Brent

$74.22

$75.91

-2.23%

-$1.69

10,856

 

 

ULSD

$2.685

$2.685

0.01%

$0.000

5,200

 

 

RBOB

$2.567

$2.606

-1.49%

-$0.039

3,224

 

 

 

 

Spreads

 

 

 

 

 

 

 

Current

Previous

% Change

Change

Contract

 

 

WTI-Brent

$5.91

$5.95

-0.67%

-$0.04

May-23

 

 

3:2:1 Crack

$38.40

$37.94

1.23%

$0.47

May-23

 

 

PJM West Spark

$28.60

$29.23

-2.15%

-$0.63

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

 

 

 

 

03/23/18

 

 

 

3/17/23

3/10/23

Net Change

% Change

3/18/22

% Change

5 Year Avg.

% Change

 

 

East

355

391

-36

-9.21%

268

32.46%

288

23.26%

 

 

Midwest

461

490

-29

-5.92%

318

44.97%

349

31.94%

 

 

Mountain

84

87

-3

-3.45%

87

-3.45%

88

-4.76%

 

 

Pacific

72

72

0

0.00%

157

-54.14%

163

-55.77%

 

 

South

927

933

-6

-0.64%

559

65.83%

638

45.39%

 

 

    Salt

262

266

-4

-1.50%

156

67.95%

189

38.33%

 

 

    Non_Salt

664

667

-3

-0.45%

404

64.36%

448

48.15%

 

 

Total

1,900

1,972

-72

-3.65%

1,389

36.79%

1,526

24.51%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Power Generation Additions/Retirements

 

 

  

 

Front Month Prices

 

 

 

 

 

 

 

 

 

 

 

 

 

Electricity

 

 

 

EOXLive Market Data

 

 

 

Contract

3/23/23

3/22/23

% Change

Change

2/23/23

% Change

3/23/22

% Change

 

 

PJM West On Peak

Apr-23

$33.32

$33.84

-1.52%

-$0.51

$36.22

-8.00%

$50.26

-33.70%

 

 

ERCOT North On Peak

Apr-23

$30.06

$29.71

1.15%

$0.34

$33.16

-9.35%

$45.32

-33.68%

 

 

CAISO SP 15 On Peak

Apr-23

$42.04

$43.66

-3.73%

-$1.63

$40.75

3.16%

$28.41

47.96%

 

 

MISO Indiana On Peak

Apr-23

$34.81

$35.01

-0.57%

-$0.20

$39.89

-12.74%

$51.59

-32.52%

 

 

NEISO Mass On Peak

Apr-23

$36.99

$39.12

-5.44%

-$2.13

$42.16

-12.26%

$55.92

-33.84%

 

 

WECC Mid C On Peak

Apr-23

$83.57

$78.90

5.92%

$4.67

$67.06

24.61%

$32.48

157.27%

 

 

NYISO Zone G On Peak

Apr-23

$34.74

$36.11

-3.79%

-$1.37

$36.93

-5.94%

$44.61

-22.13%

 

 

 

 

 

Natural Gas & Basis

 

 

 

EOXLive Market Data

 

 

 

Contract

3/23/23

3/22/23

% Change

Change

2/23/23

% Change

3/23/22

% Change

 

 

NYMEX Henry Hub

Apr-23

$2.154

$2.171

-0.78%

-$0.02

$2.43

-11.43%

$3.82

-43.57%

 

 

Houston Ship Channel

Apr-23

-$0.339

-$0.350

-3.00%

$0.01

-$0.29

16.90%

-$0.19

76.65%

 

 

Chicago

Apr-23

$0.038

$0.018

-52.73%

$0.02

$0.05

-18.95%

-$0.17

-122.90%

 

 

Waha

Apr-23

-$1.737

-$1.621

-7.12%

-$0.12

-$1.18

46.58%

-$2.10

-17.19%

 

 

Algonquin

Apr-23

$0.123

$0.112

9.24%

$0.01

$0.55

-77.54%

$0.37

-66.94%

 

 

Aeco

Apr-23

-$0.002

-$0.275

-99.13%

$0.27

-$0.50

-99.52%

-$0.93

-99.74%

 

 

Socal

Apr-23

$0.547

$0.645

-15.21%

-$0.10

$0.85

-35.65%

-$0.48

-214.28%

 

 

 

 

 

Natural Gas Liquids

 

 

 

EOXLive Market Data

 

 

 

Contract

3/23/23

3/22/23

% Change

Change

2/23/23

% Change

3/23/22

% Change

 

 

Mt. Belvieu Propane LST

Apr-23

$0.760

$0.755

0.66%

$0.00

$0.81

-5.74%

$1.13

-32.73%

 

 

Mt. Belvieu Propane non LST

Apr-23

$0.762

$0.757

0.65%

$0.00

$0.81

-5.93%

$1.13

-32.32%

 

 

Mt. Belview Ethane

Apr-23

$0.231

$0.233

-0.45%

$0.00

$0.21

8.43%

$0.33

-29.61%

 

 

Mt. Belview Nat. Gasoline

Apr-23

$1.524

$1.489

2.37%

$0.04

$1.62

-6.10%

$1.94

-21.39%

 

 

Mt. Belvieu Butane LST

Apr-23

$0.892

$0.864

3.33%

$0.03

$1.03

-13.23%

$1.28

-30.18%

 

 

Conway Propane

Apr-23

$0.733

$0.718

2.08%

$0.01

$0.77

-4.71%

$1.14

-36.01%

 

 

Conway Nat. Gasoline

Apr-23

$1.535

$1.510

1.61%

$0.02

$1.67

-8.08%

$1.91

-19.59%

 

 

 

 

Crude Oil

 

 

 

EOXLive Market Data

 

 

 

Contract

3/23/23

3/22/23

% Change

Change

2/23/23

% Change

3/23/22

% Change

 

 

WTI

May-23

$69.96

$70.90

-1.34%

-$0.94

$75.60

-7.46%

$89.26

-21.62%

 

 

Brent

May-23

$75.91

$76.69

-1.03%

-$0.78

$81.95

-7.37%

$94.81

-19.93%

 

 

WCS

May-23

-$15.00

-$15.00

0.00%

$0.00

-$16.95

-11.51%

-$14.09

6.42%

 

 

LLS

May-23

$71.89

$73.21

-1.84%

-$1.32

$78.79

-8.75%

$89.95

-20.08%

 

 

Mars

May-23

$68.53

$69.82

-1.88%

-$1.29

$72.89

-5.98%

$86.53

-20.80%

 

 

Sour

May-23

$68.82

$69.99

-1.70%

-$1.17

$73.74

-6.68%

$88.00

-21.80%

 

 

ESPO

May-23

$74.82

$75.43

-0.81%

-$0.61

$79.46

-5.84%

$91.64

-18.36%

 

 

 

 

Refined Products

 

 

 

EOXLive Market Data

 

 

 

Contract

3/23/23

3/22/23

% Change

Change

2/23/23

% Change

3/23/22

% Change

 

 

NY Heating Oil

Apr-23

$2.69

$2.73

-1.54%

-$0.04

$2.71

-0.78%

$2.89

-7.15%

 

 

NY Gasoline

Apr-23

$2.61

$2.58

1.01%

$0.03

$2.54

2.44%

$2.73

-4.40%

 

 

GC Gasoline

Apr-23

$2.51

$2.48

1.05%

$0.03

$2.44

2.54%

$2.63

-4.57%

 

 

GC Jet

Apr-23

$2.22

$2.53

-11.92%

-$0.30

$2.82

-21.07%

$2.70

-17.59%

 

 

Chicago Ethanol

Apr-23

$2.29

$2.31

-0.74%

-$0.02

$2.20

4.37%

$2.34

-1.92%

 

 

Rotterdam Gasoil

Apr-23

$720.75

$721.68

-0.13%

-$0.93

$739.24

-2.50%

$843.82

-14.58%

 

 

Singapore Jet Kero

Apr-23

$95.06

$95.41

-0.37%

-$0.35

$99.80

-4.75%

$106.95

-11.12%

 

 

 

 

Implied Volatilities

 

 

 

EOXLive Market Data

 

 

 

Contract

3/23/23

3/22/23

% Change

Change

2/23/23

% Change

3/23/22

% Change

 

 

Henry Hub Straddle

May-23

106.11%

102.42%

3.60%

3.69%

81.05%

30.92%

39.61%

167.89%

 

 

Algonquin Straddle

May-23

112.16%

107.83%

4.02%

4.33%

90.32%

24.18%

38.90%

188.33%

 

 

Waha Straddle

May-23

285.03%

266.98%

6.76%

18.05%

191.76%

48.64%

92.00%

209.82%

 

 

Chicago Straddle

May-23

108.76%

107.82%

0.87%

0.94%

87.45%

24.37%

41.10%

164.62%

 

 

PJM West Straddle

May-23

73.28%

72.79%

0.67%

0.49%

70.47%

3.99%

46.24%

58.48%

 

 

SP – 15 Straddle

May-23

62.57%

66.89%

-6.46%

-4.32%

60.12%

4.08%

21.83%

186.62%

 

 

Mid. C Straddle

May-23

198.19%

196.52%

0.85%

1.67%

129.97%

52.49%

35.25%

462.24%

 

 

 

 

Euro Gas and Power/LNG

 

 

EOXLive Market Data

 

 

 

Contract

3/23/23

3/22/23

% Change

Change

2/23/23

% Change

3/23/22

% Change

 

 

Dutch TTF

May-23

EUR 43.41

EUR 40.58

6.99%

EUR 2.83

EUR 50.70

-14.38%

EUR 62.80

-30.88%

 

 

NBP

May-23

GBP 109.41

GBP 100.45

8.92%

GBP 8.96

GBP 125.57

-12.87%

GBP 159.23

-31.29%

 

 

German Base

May-23

EUR 109.03

EUR 104.50

4.33%

EUR 4.53

EUR 130.70

-16.58%

EUR 149.17

-26.91%

 

 

UK Base

May-23

GBP 116.03

GBP 103.33

12.29%

GBP 12.70

GBP 133.22

-12.90%

GBP 147.78

-21.48%

 

 

French Base

May-23

EUR 114.57

EUR 109.68

4.46%

EUR 4.89

EUR 133.00

-13.86%

EUR 142.37

-19.52%

 

 

Italian Base

May-23

EUR 132.75

EUR 125.42

5.85%

EUR 7.33

EUR 148.65

-10.70%

EUR 159.78

-16.92%

 

 

JKM LNG

May-23

$14.71

$12.51

17.62%

$2.20

$14.85

-0.93%

$20.66

-28.80%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

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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