Morning Report: Gas * Power * NGL * Crude * Products * Vols — Mar-29-2023

Mar 29, 2023

  

 

 

 

 

 

 

 

 

 

Prices as of 8:32 AM CST

 

 

 

 

 

 

 

Current Price

Previous Settle

% Change

Change

Volume

 

 

Natural Gas

$1.973

$2.030

-2.81%

-$0.057

1,787

 

 

WTI

$73.98

$73.20

1.07%

$0.78

93,167

 

 

Brent

$79.38

$78.65

0.93%

$0.73

2,655

 

 

ULSD

$2.742

$2.770

-1.00%

-$0.028

2,926

 

 

RBOB

$2.715

$2.712

0.12%

$0.003

846

 

 

 

 

Spreads

 

 

 

 

 

 

 

Current

Previous

% Change

Change

Contract

 

 

WTI-Brent

$5.34

$5.45

-2.02%

-$0.11

May-23

 

 

3:2:1 Crack

$37.93

$38.90

-2.49%

-$0.97

May-23

 

 

PJM West Spark

$27.49

$28.56

-3.74%

-$1.07

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

3/28/23

3/27/23

% Change

Change

2/28/23

% Change

3/28/22

% Change

 

 

PJM West On Peak

Apr-23

$31.71

$32.90

-3.61%

-$1.19

$38.58

-17.81%

$52.22

-39.28%

 

 

ERCOT North On Peak

Apr-23

$33.35

$31.34

6.39%

$2.00

$34.55

-3.48%

$47.68

-30.06%

 

 

CAISO SP 15 On Peak

Apr-23

$49.01

$43.53

12.57%

$5.47

$43.50

12.66%

$29.50

66.15%

 

 

MISO Indiana On Peak

Apr-23

$32.97

$34.47

-4.37%

-$1.51

$41.88

-21.28%

$53.23

-38.07%

 

 

NEISO Mass On Peak

Apr-23

$36.76

$36.61

0.42%

$0.15

$41.96

-12.40%

$57.02

-35.53%

 

 

WECC Mid C On Peak

Apr-23

$97.54

$86.83

12.34%

$10.71

$74.46

30.99%

$32.00

204.83%

 

 

NYISO Zone G On Peak

Apr-23

$34.16

$33.59

1.69%

$0.57

$38.59

-11.47%

$46.64

-26.75%

 

 

 

 

 

Natural Gas & Basis

 

 

 

EOXLive Market Data

 

 

 

Contract

3/28/23

3/27/23

% Change

Change

2/28/23

% Change

3/28/22

% Change

 

 

NYMEX Henry Hub

Apr-23

$2.030

$2.088

-2.78%

-$0.06

$2.75

-26.10%

$3.99

-49.10%

 

 

Houston Ship Channel

Apr-23

-$0.341

-$0.334

1.88%

-$0.01

-$0.33

2.07%

-$0.27

28.05%

 

 

Chicago

Apr-23

$0.016

$0.019

16.05%

$0.00

$0.01

44.64%

-$0.16

-109.93%

 

 

Waha

Apr-23

-$2.000

-$1.867

-7.16%

-$0.13

-$1.24

61.96%

-$2.04

-1.80%

 

 

Algonquin

Apr-23

$0.052

$0.070

-24.86%

-$0.02

$0.51

-89.84%

$0.34

-84.63%

 

 

Aeco

Apr-23

-$0.002

-$0.097

-98.25%

$0.10

-$0.60

-99.72%

-$0.96

-99.82%

 

 

Socal

Apr-23

$1.486

$0.675

120.23%

$0.81

$0.74

99.74%

-$0.49

-400.53%

 

 

 

 

 

Natural Gas Liquids

 

 

 

EOXLive Market Data

 

 

 

Contract

3/28/23

3/27/23

% Change

Change

2/28/23

% Change

3/28/22

% Change

 

 

Mt. Belvieu Propane LST

Apr-23

$0.793

$0.785

0.95%

$0.01

$0.83

-4.95%

$1.04

-23.75%

 

 

Mt. Belvieu Propane non LST

Apr-23

$0.794

$0.768

3.42%

$0.03

$0.83

-4.80%

$1.05

-24.33%

 

 

Mt. Belview Ethane

Apr-23

$0.219

$0.226

-3.28%

-$0.01

$0.23

-5.79%

$0.32

-32.55%

 

 

Mt. Belview Nat. Gasoline

Apr-23

$1.578

$1.530

3.19%

$0.05

$1.64

-3.94%

$1.99

-20.79%

 

 

Mt. Belvieu Butane LST

Apr-23

$0.911

$0.893

2.00%

$0.02

$1.06

-14.20%

$1.23

-25.91%

 

 

Conway Propane

Apr-23

$0.760

$0.740

2.73%

$0.02

$0.80

-4.80%

$1.05

-27.61%

 

 

Conway Nat. Gasoline

Apr-23

$1.577

$1.541

2.34%

$0.04

$1.66

-5.25%

$1.97

-20.03%

 

 

 

 

Crude Oil

 

 

 

EOXLive Market Data

 

 

 

Contract

3/28/23

3/27/23

% Change

Change

2/28/23

% Change

3/28/22

% Change

 

 

WTI

May-23

$73.20

$72.81

0.53%

$0.39

$77.19

-5.17%

$84.20

-13.06%

 

 

Brent

May-23

$78.65

$78.12

0.67%

$0.53

$83.45

-5.75%

$89.87

-12.48%

 

 

WCS

May-23

-$14.65

-$14.60

0.35%

-$0.05

-$14.80

-1.01%

-$13.13

11.62%

 

 

LLS

May-23

$75.25

$75.42

-0.24%

-$0.18

$79.71

-5.60%

$83.15

-9.51%

 

 

Mars

May-23

$72.21

$72.01

0.27%

$0.19

$75.34

-4.15%

$83.17

-13.18%

 

 

Sour

May-23

$72.20

$72.12

0.11%

$0.08

$78.57

-8.10%

$84.46

-14.51%

 

 

ESPO

May-23

$77.04

$75.12

2.50%

$1.92

$80.96

-4.84%

$84.37

-8.69%

 

 

 

 

Refined Products

 

 

 

EOXLive Market Data

 

 

 

Contract

3/28/23

3/27/23

% Change

Change

2/28/23

% Change

3/28/22

% Change

 

 

NY Heating Oil

Apr-23

$2.77

$2.77

0.11%

$0.00

$2.80

-1.04%

$2.68

3.44%

 

 

NY Gasoline

Apr-23

$2.65

$2.68

-1.08%

-$0.03

$2.64

0.61%

$2.61

1.80%

 

 

GC Gasoline

Apr-23

$2.55

$2.58

-1.12%

-$0.03

$2.54

0.63%

$2.51

1.88%

 

 

GC Jet

Apr-23

$2.59

$2.53

2.05%

$0.05

$2.56

1.10%

$2.52

2.74%

 

 

Chicago Ethanol

Apr-23

$2.36

$2.37

-0.21%

-$0.01

$2.12

11.22%

$2.17

8.96%

 

 

Rotterdam Gasoil

Apr-23

$727.66

$713.78

1.94%

$13.87

$765.04

-4.89%

$769.66

-5.46%

 

 

Singapore Jet Kero

Apr-23

$96.98

$94.63

2.48%

$2.35

$102.53

-5.42%

$101.48

-4.43%

 

 

 

 

Implied Volatilities

 

 

 

EOXLive Market Data

 

 

 

Contract

3/28/23

3/27/23

% Change

Change

2/28/23

% Change

3/28/22

% Change

 

 

Henry Hub Straddle

May-23

98.08%

99.61%

-1.54%

-1.53%

76.56%

28.11%

36.20%

170.94%

 

 

Algonquin Straddle

May-23

104.51%

105.26%

-0.71%

-0.75%

82.37%

26.88%

42.54%

145.67%

 

 

Waha Straddle

May-23

309.95%

308.95%

0.32%

1.00%

186.42%

66.26%

88.63%

249.71%

 

 

Chicago Straddle

May-23

100.10%

102.06%

-1.92%

-1.96%

80.14%

24.91%

37.44%

167.36%

 

 

PJM West Straddle

May-23

72.62%

72.08%

0.75%

0.54%

63.11%

15.07%

49.99%

45.27%

 

 

SP – 15 Straddle

May-23

92.79%

44.98%

106.29%

47.81%

93.15%

-0.39%

21.66%

328.39%

 

 

Mid. C Straddle

May-23

212.37%

205.31%

3.44%

7.06%

140.05%

51.64%

36.28%

485.36%

 

 

 

 

Euro Gas and Power/LNG

 

 

EOXLive Market Data

 

 

 

Contract

3/28/23

3/27/23

% Change

Change

2/28/23

% Change

3/28/22

% Change

 

 

Dutch TTF

May-23

EUR 43.16

EUR 41.62

3.70%

EUR 1.54

EUR 47.15

-8.47%

EUR 59.36

-27.29%

 

 

NBP

May-23

GBP 106.70

GBP 103.50

3.09%

GBP 3.20

GBP 117.15

-8.92%

GBP 150.14

-28.93%

 

 

German Base

May-23

EUR 105.22

EUR 102.92

2.24%

EUR 2.30

EUR 121.00

-13.04%

EUR 147.26

-28.55%

 

 

UK Base

May-23

GBP 110.43

GBP 108.39

1.88%

GBP 2.04

GBP 127.06

-13.09%

GBP 136.20

-18.92%

 

 

French Base

May-23

EUR 116.04

EUR 113.42

2.31%

EUR 2.62

EUR 126.62

-8.35%

EUR 134.68

-13.84%

 

 

Italian Base

May-23

EUR 127.41

EUR 126.25

0.92%

EUR 1.16

EUR 139.46

-8.64%

EUR 157.82

-19.27%

 

 

JKM LNG

May-23

$14.14

$14.14

-0.04%

-$0.01

$14.40

-1.85%

$20.36

-30.57%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

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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