Morning Report: Gas * Power * NGL * Crude * Products * Vols — Mar-31-2023

Mar 31, 2023

  

 

 

 

 

 

 

 

 

 

Prices as of 8:33 AM CST

 

 

 

 

 

 

 

Current Price

Previous Settle

% Change

Change

Volume

 

 

Natural Gas

$2.192

$2.104

4.18%

$0.088

45,022

 

 

WTI

$74.96

$74.37

0.79%

$0.59

92,189

 

 

Brent

$79.55

$79.27

0.35%

$0.28

171

 

 

ULSD

$2.655

$2.624

1.19%

$0.031

390

 

 

RBOB

$2.656

$2.661

-0.20%

-$0.005

365

 

 

 

 

Spreads

 

 

 

 

 

 

 

Current

Previous

% Change

Change

Contract

 

 

WTI-Brent

$4.61

$4.90

-5.92%

-$0.29

May-23

 

 

3:2:1 Crack

$35.04

$35.38

-0.98%

-$0.35

May-23

 

 

PJM West Spark

NA

NA

NA

NA

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

 

 

 

 

03/30/18

 

 

 

3/24/23

3/17/23

Net Change

% Change

3/25/22

% Change

5 Year Avg.

% Change

 

 

East

343

355

-12

-3.38%

268

27.99%

279

22.85%

 

 

Midwest

437

461

-24

-5.21%

317

37.85%

340

28.45%

 

 

Mountain

82

84

-2

-2.38%

89

-7.87%

89

-7.66%

 

 

Pacific

73

72

1

1.39%

161

-54.66%

166

-56.08%

 

 

South

917

927

-10

-1.08%

581

57.83%

656

39.87%

 

 

    Salt

262

262

0

0.00%

169

55.03%

199

31.66%

 

 

    Non_Salt

655

664

-9

-1.36%

412

58.98%

457

43.26%

 

 

Total

1,853

1,900

-47

-2.47%

1,415

30.95%

1,530

21.13%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Power Generation Additions/Retirements

 

 

  

 

Front Month Prices

 

 

 

 

 

 

 

 

 

 

 

 

 

Electricity

 

 

 

EOXLive Market Data

 

 

 

Contract

3/30/23

3/29/23

% Change

Change

3/2/23

% Change

3/30/22

% Change

 

 

PJM West On Peak

Apr-23

$30.98

$34.47

-10.14%

-$3.49

$39.89

-22.34%

$51.50

-39.85%

 

 

ERCOT North On Peak

Apr-23

$34.87

$34.92

-0.15%

-$0.05

$37.83

-7.82%

$48.57

-28.22%

 

 

CAISO SP 15 On Peak

Apr-23

$48.05

$50.98

-5.74%

-$2.93

$46.45

3.43%

$29.81

61.17%

 

 

MISO Indiana On Peak

Apr-23

$32.42

$33.55

-3.39%

-$1.14

$42.79

-24.24%

$52.73

-38.52%

 

 

NEISO Mass On Peak

Apr-23

$37.19

$35.85

3.74%

$1.34

$44.09

-15.66%

$55.33

-32.79%

 

 

WECC Mid C On Peak

Apr-23

$93.26

$98.02

-4.87%

-$4.77

$72.71

28.27%

$32.01

191.33%

 

 

NYISO Zone G On Peak

Apr-23

$34.43

$33.14

3.89%

$1.29

$40.10

-14.13%

$45.94

-25.06%

 

 

 

 

 

Natural Gas & Basis

 

 

 

EOXLive Market Data

 

 

 

Contract

3/30/23

3/29/23

% Change

Change

3/2/23

% Change

3/30/22

% Change

 

 

NYMEX Henry Hub

May-23

$2.104

$2.184

-3.66%

-$0.08

$2.90

-27.42%

$3.86

-45.45%

 

 

Houston Ship Channel

May-23

-$0.271

-$0.280

-3.11%

$0.01

-$0.26

6.23%

-$0.27

0.18%

 

 

Chicago

May-23

-$0.022

-$0.042

94.47%

$0.02

-$0.09

-76.13%

-$0.31

-92.96%

 

 

Waha

May-23

-$1.712

-$1.843

-7.12%

$0.13

-$1.62

5.94%

-$1.87

-8.26%

 

 

Algonquin

May-23

-$0.109

-$0.147

25.51%

$0.04

-$0.25

-56.56%

-$0.56

-80.57%

 

 

Aeco

May-23

-$0.354

-$0.337

5.29%

-$0.02

-$0.83

-57.26%

-$1.00

-64.72%

 

 

Socal

May-23

$0.731

$0.508

43.79%

$0.22

$0.48

52.49%

-$0.52

-240.23%

 

 

 

 

 

Natural Gas Liquids

 

 

 

EOXLive Market Data

 

 

 

Contract

3/30/23

3/29/23

% Change

Change

3/2/23

% Change

3/30/22

% Change

 

 

Mt. Belvieu Propane LST

Apr-23

$0.795

$0.798

-0.32%

$0.00

$0.89

-10.67%

$1.07

-26.04%

 

 

Mt. Belvieu Propane non LST

Apr-23

$0.808

$0.800

1.00%

$0.01

$0.88

-8.57%

$1.09

-25.99%

 

 

Mt. Belview Ethane

Apr-23

$0.219

$0.227

-3.49%

-$0.01

$0.25

-11.15%

$0.33

-33.74%

 

 

Mt. Belview Nat. Gasoline

Apr-23

$1.559

$1.573

-0.89%

-$0.01

$1.64

-5.20%

$1.88

-16.92%

 

 

Mt. Belvieu Butane LST

Apr-23

$0.914

$0.908

0.68%

$0.01

$1.03

-11.62%

$1.22

-25.30%

 

 

Conway Propane

Apr-23

$0.755

$0.768

-1.66%

-$0.01

$0.84

-9.61%

$1.09

-30.60%

 

 

Conway Nat. Gasoline

Apr-23

$1.579

$1.577

0.13%

$0.00

$1.67

-5.52%

$1.88

-15.96%

 

 

 

 

Crude Oil

 

 

 

EOXLive Market Data

 

 

 

Contract

3/30/23

3/29/23

% Change

Change

3/2/23

% Change

3/30/22

% Change

 

 

WTI

May-23

$74.37

$72.97

1.88%

$1.40

$78.31

-5.03%

$87.10

-14.62%

 

 

Brent

May-23

$79.27

$78.28

1.25%

$0.99

$84.75

-6.47%

$92.68

-14.47%

 

 

WCS

May-23

-$14.85

-$14.65

1.34%

-$0.20

-$14.68

1.16%

-$14.10

5.29%

 

 

LLS

May-23

$76.19

$75.25

1.23%

$0.94

$80.58

-5.44%

$89.71

-15.06%

 

 

Mars

May-23

$72.42

$71.44

1.35%

$0.98

$76.23

-5.00%

$85.48

-15.28%

 

 

Sour

May-23

$72.33

$70.87

2.03%

$1.46

$76.68

-5.67%

$86.23

-16.11%

 

 

ESPO

May-23

$78.07

$77.23

1.08%

$0.84

$82.05

-4.84%

$90.91

-14.12%

 

 

 

 

Refined Products

 

 

 

EOXLive Market Data

 

 

 

Contract

3/30/23

3/29/23

% Change

Change

3/2/23

% Change

3/30/22

% Change

 

 

NY Heating Oil

Apr-23

$2.63

$2.66

-1.09%

-$0.03

$2.87

-8.20%

$2.82

-6.80%

 

 

NY Gasoline

Apr-23

$2.65

$2.67

-0.79%

-$0.02

$2.70

-1.82%

$2.68

-1.12%

 

 

GC Gasoline

Apr-23

$2.55

$2.57

-0.82%

-$0.02

$2.60

-1.89%

$2.58

-1.16%

 

 

GC Jet

Apr-23

$2.49

$2.46

1.06%

$0.03

$2.77

-10.05%

$2.62

-5.04%

 

 

Chicago Ethanol

Apr-23

$2.34

$2.37

-0.93%

-$0.02

$2.15

8.72%

$2.21

5.92%

 

 

Rotterdam Gasoil

Apr-23

$708.06

$711.33

-0.46%

-$3.27

$791.29

-10.52%

$786.15

-9.93%

 

 

Singapore Jet Kero

Apr-23

$94.45

$95.63

-1.23%

-$1.18

$104.69

-9.78%

$102.31

-7.68%

 

 

 

 

Implied Volatilities

 

 

 

EOXLive Market Data

 

 

 

Contract

3/30/23

3/29/23

% Change

Change

3/2/23

% Change

3/30/22

% Change

 

 

Henry Hub Straddle

May-23

95.26%

90.54%

5.21%

4.72%

74.92%

27.15%

33.91%

180.92%

 

 

Algonquin Straddle

May-23

100.95%

99.29%

1.67%

1.66%

78.62%

28.40%

37.63%

168.27%

 

 

Waha Straddle

May-23

310.67%

308.02%

0.86%

2.65%

177.86%

74.67%

100.41%

209.40%

 

 

Chicago Straddle

May-23

97.53%

92.77%

5.13%

4.76%

77.55%

25.76%

34.70%

181.07%

 

 

PJM West Straddle

May-23

69.30%

74.60%

-7.10%

-5.30%

63.88%

8.48%

50.85%

36.28%

 

 

SP – 15 Straddle

May-23

98.37%

85.00%

15.73%

13.37%

86.22%

14.09%

21.59%

355.63%

 

 

Mid. C Straddle

May-23

234.14%

228.92%

2.28%

5.22%

153.35%

52.68%

37.65%

521.89%

 

 

 

 

Euro Gas and Power/LNG

 

 

EOXLive Market Data

 

 

 

Contract

3/30/23

3/29/23

% Change

Change

3/2/23

% Change

3/30/22

% Change

 

 

Dutch TTF

May-23

EUR 43.50

EUR 43.10

0.93%

EUR 0.40

EUR 46.93

-7.31%

EUR 57.21

-23.97%

 

 

NBP

May-23

GBP 108.30

GBP 106.45

1.74%

GBP 1.85

GBP 119.10

-9.07%

GBP 152.23

-28.86%

 

 

German Base

May-23

EUR 106.75

EUR 111.50

-4.26%

-EUR 4.75

EUR 121.25

-11.96%

EUR 155.58

-31.38%

 

 

UK Base

May-23

GBP 113.58

GBP 110.59

2.70%

GBP 2.99

GBP 128.02

-11.28%

GBP 138.54

-18.02%

 

 

French Base

May-23

EUR 112.81

EUR 111.18

1.47%

EUR 1.63

EUR 126.53

-10.85%

EUR 151.98

-25.77%

 

 

Italian Base

May-23

EUR 128.53

EUR 134.09

-4.15%

-EUR 5.56

EUR 141.20

-8.97%

EUR 172.28

-25.40%

 

 

JKM LNG

May-23

$13.47

$13.72

-1.76%

-$0.24

$14.46

-6.80%

$19.88

-32.22%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

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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