Morning Report: Gas * Power * NGL * Crude * Products * Vols — Mar-28-2023

Mar 28, 2023

  

 

 

 

 

 

 

 

 

 

Prices as of 8:35 AM CST

 

 

 

 

 

 

 

Current Price

Previous Settle

% Change

Change

Volume

 

 

Natural Gas

$2.075

$2.088

-0.62%

-$0.013

7,526

 

 

WTI

$72.58

$72.81

-0.32%

-$0.23

123,117

 

 

Brent

$77.90

$78.12

-0.28%

-$0.22

5,279

 

 

ULSD

$2.762

$2.770

-0.29%

-$0.008

4,308

 

 

RBOB

$2.671

$2.684

-0.49%

-$0.013

2,050

 

 

 

 

Spreads

 

 

 

 

 

 

 

Current

Previous

% Change

Change

Contract

 

 

WTI-Brent

$5.31

$5.31

0.00%

$0.00

May-23

 

 

3:2:1 Crack

$38.46

$38.65

-0.51%

-$0.20

May-23

 

 

PJM West Spark

$28.46

$29.65

-4.00%

-$1.19

Apr-23

 

 

 

 

Baker Hughes Rig Count

 

 

 

 

 

 

 

Date

Count

Change

1 Year Chg.

1 Year Date

 

 

U.S.

03/24/23

758

4

88

03/25/22

 

 

Canada

03/24/23

165

-42

25

03/25/22

 

 

International

Feb

915

14

102

Feb

 

 

 

 

CFTC Net Positions

 

 

 

 

 

 

As of 3/14/2023

Open Interest

Total Net Long

Total Net Short

Diff

 

 

PJM West On Peak

90,833

90,456

90,439

17

 

 

PJM West Off Peak

79,712

79,021

79,086

-65

 

 

Natural Gas Henry Hub

447,495

417,678

436,951

-19,273

 

 

WTI – Light Sweet Crude Futures

133,657

98,557

107,310

-8,753

 

 

Brent Crude Last Day

147,510

137,901

139,852

-1,951

 

 

NYM Ethanol

30,700

30,157

30,321

-164

 

 

Mt Belvieu LDH Propane Swap

140,315

139,448

139,635

-187

 

 

RBOB

314,897

290,178

298,135

-7,957

 

 

HSC Basis

582,078

577,524

573,609

3,915

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

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

3/27/23

3/24/23

% Change

Change

2/27/23

% Change

3/25/22

% Change

 

 

PJM West On Peak

Apr-23

$32.90

$34.11

-3.56%

-$1.21

$40.34

-18.45%

$51.06

-35.57%

 

 

ERCOT North On Peak

Apr-23

$31.34

$31.37

-0.07%

-$0.02

$35.10

-10.69%

$46.73

-32.92%

 

 

CAISO SP 15 On Peak

Apr-23

$43.53

$43.86

-0.74%

-$0.32

$44.63

-2.45%

$29.22

49.01%

 

 

MISO Indiana On Peak

Apr-23

$34.47

$35.75

-3.57%

-$1.28

$43.82

-21.33%

$52.36

-34.17%

 

 

NEISO Mass On Peak

Apr-23

$36.61

$37.60

-2.65%

-$1.00

$45.62

-19.76%

$54.90

-33.33%

 

 

WECC Mid C On Peak

Apr-23

$86.83

$88.56

-1.95%

-$1.73

$76.48

13.53%

$31.83

172.74%

 

 

NYISO Zone G On Peak

Apr-23

$33.59

$35.68

-5.84%

-$2.08

$40.55

-17.16%

$45.46

-26.10%

 

 

 

 

 

Natural Gas & Basis

 

 

 

EOXLive Market Data

 

 

 

Contract

3/27/23

3/24/23

% Change

Change

2/27/23

% Change

3/25/22

% Change

 

 

NYMEX Henry Hub

Apr-23

$2.088

$2.216

-5.78%

-$0.13

$2.73

-23.54%

$3.98

-47.60%

 

 

Houston Ship Channel

Apr-23

-$0.334

-$0.324

3.08%

-$0.01

-$0.38

-12.44%

-$0.27

22.41%

 

 

Chicago

Apr-23

$0.019

$0.023

23.94%

$0.00

$0.00

-852.00%

-$0.17

-110.92%

 

 

Waha

Apr-23

-$1.867

-$1.752

-6.54%

-$0.11

-$1.30

43.06%

-$2.12

-12.14%

 

 

Algonquin

Apr-23

$0.070

$0.095

-26.89%

-$0.03

$0.50

-86.03%

$0.37

-81.17%

 

 

Aeco

Apr-23

-$0.097

-$0.122

-20.28%

$0.02

-$0.74

-86.95%

-$0.98

-90.12%

 

 

Socal

Apr-23

$0.675

$0.633

6.57%

$0.04

$0.75

-10.39%

-$0.49

-237.80%

 

 

 

 

 

Natural Gas Liquids

 

 

 

EOXLive Market Data

 

 

 

Contract

3/27/23

3/24/23

% Change

Change

2/27/23

% Change

3/25/22

% Change

 

 

Mt. Belvieu Propane LST

Apr-23

$0.785

$0.752

4.33%

$0.03

$0.81

-2.63%

$1.10

-28.68%

 

 

Mt. Belvieu Propane non LST

Apr-23

$0.768

$0.752

2.07%

$0.02

$0.82

-6.11%

$1.10

-30.27%

 

 

Mt. Belview Ethane

Apr-23

$0.226

$0.235

-3.60%

-$0.01

$0.23

-2.26%

$0.33

-30.61%

 

 

Mt. Belview Nat. Gasoline

Apr-23

$1.530

$1.500

1.99%

$0.03

$1.63

-6.45%

$1.91

-20.07%

 

 

Mt. Belvieu Butane LST

Apr-23

$0.893

$0.878

1.73%

$0.02

$1.05

-14.53%

$1.30

-31.53%

 

 

Conway Propane

Apr-23

$0.740

$0.720

2.82%

$0.02

$0.78

-5.11%

$1.10

-32.80%

 

 

Conway Nat. Gasoline

Apr-23

$1.541

$1.513

1.88%

$0.03

$1.66

-7.16%

$1.87

-17.75%

 

 

 

 

Crude Oil

 

 

 

EOXLive Market Data

 

 

 

Contract

3/27/23

3/24/23

% Change

Change

2/27/23

% Change

3/25/22

% Change

 

 

WTI

May-23

$72.81

$69.26

4.88%

$3.55

$75.81

-3.96%

$88.29

-17.53%

 

 

Brent

May-23

$78.12

$74.99

4.01%

$3.13

$82.04

-4.78%

$94.02

-16.91%

 

 

WCS

May-23

-$14.60

-$14.85

-1.71%

$0.25

-$15.55

-6.11%

-$12.21

19.60%

 

 

LLS

May-23

$75.42

$71.43

5.30%

$4.00

$79.12

-4.67%

$86.23

-12.53%

 

 

Mars

May-23

$72.01

$68.11

5.42%

$3.90

$74.28

-3.05%

$82.27

-12.47%

 

 

Sour

May-23

$72.12

$68.40

5.16%

$3.72

$77.05

-6.39%

$83.71

-13.85%

 

 

ESPO

May-23

$75.12

$72.36

3.67%

$2.76

$80.10

-6.22%

$86.22

-12.88%

 

 

 

 

Refined Products

 

 

 

EOXLive Market Data

 

 

 

Contract

3/27/23

3/24/23

% Change

Change

2/27/23

% Change

3/25/22

% Change

 

 

NY Heating Oil

Apr-23

$2.77

$2.70

2.37%

$0.06

$2.79

-0.90%

$2.81

-1.53%

 

 

NY Gasoline

Apr-23

$2.68

$2.58

3.75%

$0.10

$2.60

3.16%

$2.67

0.52%

 

 

GC Gasoline

Apr-23

$2.58

$2.48

3.90%

$0.10

$2.50

3.28%

$2.57

0.55%

 

 

GC Jet

Apr-23

$2.53

$2.24

13.13%

$0.29

$2.70

-6.15%

$2.61

-3.06%

 

 

Chicago Ethanol

Apr-23

$2.37

$2.33

1.72%

$0.04

$2.16

9.49%

$2.38

-0.55%

 

 

Rotterdam Gasoil

Apr-23

$713.78

$704.56

1.31%

$9.22

$763.37

-6.50%

$770.64

-7.38%

 

 

Singapore Jet Kero

Apr-23

$94.63

$94.08

0.59%

$0.55

$102.61

-7.77%

$106.16

-10.86%

 

 

 

 

Implied Volatilities

 

 

 

EOXLive Market Data

 

 

 

Contract

3/27/23

3/24/23

% Change

Change

2/27/23

% Change

3/25/22

% Change

 

 

Henry Hub Straddle

May-23

99.61%

88.97%

11.96%

10.64%

78.40%

27.05%

34.51%

188.64%

 

 

Algonquin Straddle

May-23

105.26%

93.75%

12.28%

11.51%

84.58%

24.45%

36.50%

188.38%

 

 

Waha Straddle

May-23

308.95%

274.18%

12.68%

34.77%

163.03%

89.50%

89.80%

244.04%

 

 

Chicago Straddle

May-23

102.06%

90.93%

12.24%

11.13%

82.89%

23.13%

36.08%

182.87%

 

 

PJM West Straddle

May-23

72.08%

72.39%

-0.43%

-0.31%

65.37%

10.26%

47.98%

50.23%

 

 

SP – 15 Straddle

May-23

44.98%

37.62%

19.56%

7.36%

77.31%

-41.82%

21.65%

107.76%

 

 

Mid. C Straddle

May-23

205.31%

198.09%

3.64%

7.22%

132.66%

54.76%

36.58%

461.26%

 

 

 

 

Euro Gas and Power/LNG

 

 

EOXLive Market Data

 

 

 

Contract

3/27/23

3/24/23

% Change

Change

2/27/23

% Change

3/25/22

% Change

 

 

Dutch TTF

May-23

EUR 41.62

EUR 41.65

-0.08%

-EUR 0.03

EUR 47.53

-12.43%

EUR 61.86

-32.72%

 

 

NBP

May-23

GBP 103.50

GBP 102.80

0.68%

GBP 0.70

GBP 118.75

-12.84%

GBP 151.22

-31.56%

 

 

German Base

May-23

EUR 102.92

EUR 106.77

-3.61%

-EUR 3.85

EUR 126.01

-18.33%

EUR 151.67

-32.15%

 

 

UK Base

May-23

GBP 108.39

GBP 105.67

2.58%

GBP 2.72

GBP 125.89

-13.91%

GBP 129.77

-16.47%

 

 

French Base

May-23

EUR 113.42

EUR 108.17

4.86%

EUR 5.25

EUR 130.06

-12.79%

EUR 133.94

-15.32%

 

 

Italian Base

May-23

EUR 126.25

EUR 129.17

-2.26%

-EUR 2.92

EUR 139.89

-9.75%

EUR 156.63

-19.40%

 

 

JKM LNG

May-23

$14.14

$12.99

8.82%

$1.15

$14.33

-1.33%

$18.08

-21.78%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

Cooling Degree Days

 

 

 

 

 

 

03/25/2023

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

11

-1

-6

126

24

12

24.00%

11.00%

 

 

E S Central

5

0

5

23

-3

16

NA

NA

 

 

W S Central

20

7

15

104

36

63

NA

NA

 

 

Mountain

0

-3

-2

0

-11

-5

NA

NA

 

 

Pacific

0

-1

0

0

-6

0

NA

NA

 

 

United States

4

-1

1

37

6

10

NA

NA

 

 

 

 

Heating Degree Days

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

03/25/2023

Week Tot

Dev Norm

Dev L YR

Cum Tot

CumD Norm

CumD L YR

CumD Norm

CumD L YR

 

 

New England

182

-10

33

4,755

-774

-232

-14.00%

-5.00%

 

 

Middle Atlantic

164

-9

41

4,330

-694

-70

-14.00%

-2.00%

 

 

E N Central

184

4

53

4,981

-578

-5

-10.00%

0.00%

 

 

W N Central

209

31

61

5,703

-181

310

-3.00%

6.00%

 

 

South Atlantic

81

6

35

2,172

-378

49

-15.00%

2.00%

 

 

E S Central

106

15

30

2,771

-466

-29

-14.00%

-1.00%

 

 

W S Central

62

11

7

1,935

-204

103

-10.00%

6.00%

 

 

Mountain

179

44

55

4,657

297

653

7.00%

16.00%

 

 

Pacific

132

42

72

2,925

326

504

13.00%

21.00%

 

 

United States

137

15

44

3,591

-295

138

-8.00%

4.00%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

Weather Forecast & Seasonal Outlook

 

 

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