Morning Report: Gas * Power * NGL * Crude * Products * Vols — May-02-2023

May 2, 2023

  

 

 

 

 

 

 

 

 

 

Prices as of 8:32 AM CST

 

 

 

 

 

 

 

Current Price

Previous Settle

% Change

Change

Volume

 

 

Natural Gas

$2.243

$2.318

-3.24%

-$0.075

32,147

 

 

WTI

$74.59

$75.66

-1.41%

-$1.07

81,112

 

 

Brent

$78.28

$79.54

-1.58%

-$1.26

8,208

 

 

ULSD

$2.345

$2.382

-1.56%

-$0.037

8,392

 

 

RBOB

$2.509

$2.550

-1.64%

-$0.042

11,071

 

 

 

 

Spreads

 

 

 

 

 

 

 

Current

Previous

% Change

Change

Contract

 

 

WTI-Brent

$3.84

$3.80

1.05%

$0.04

Jul-23

 

 

3:2:1 Crack

$27.42

$27.94

-1.88%

-$0.53

Jun-23

 

 

PJM West Spark

$36.07

$34.68

4.01%

$1.39

Jun-23

 

 

 

 

Baker Hughes Rig Count

 

 

 

 

 

 

 

Date

Count

Change

1 Year Chg.

1 Year Date

 

 

U.S.

04/28/23

755

2

57

04/28/22

 

 

Canada

04/28/23

93

-12

-2

04/28/22

 

 

International

Mar

930

15

115

Mar

 

 

 

 

CFTC Net Positions

 

 

 

 

 

 

As of 4/25/2023

Open Interest

Total Net Long

Total Net Short

Diff

 

 

PJM West On Peak

100,007

99,573

99,362

211

 

 

PJM West Off Peak

89,390

88,784

88,978

-194

 

 

Natural Gas Henry Hub

459,878

430,482

445,650

-15,168

 

 

WTI – Light Sweet Crude Futures

142,157

107,822

105,376

2,446

 

 

Brent Crude Last Day

143,928

134,460

138,481

-4,021

 

 

NYM Ethanol

36,079

35,556

35,617

-61

 

 

Mt Belvieu LDH Propane Swap

150,186

148,931

149,651

-720

 

 

RBOB

294,281

271,915

278,623

-6,708

 

 

HSC Basis

572,084

569,055

563,922

5,133

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

EIA Lower 48 Natural Gas Storage

 

 

 

 

04/27/18

 

 

 

4/21/23

4/14/23

Net Change

% Change

4/22/22

% Change

5 Year Avg.

% Change

 

 

East

390

363

27

7.44%

238

63.87%

293

33.20%

 

 

Midwest

468

450

18

4.00%

309

51.46%

351

33.49%

 

 

Mountain

90

84

6

7.14%

90

0.00%

95

-4.86%

 

 

Pacific

90

83

7

8.43%

171

-47.37%

189

-52.38%

 

 

South

971

949

22

2.32%

681

42.58%

754

28.85%

 

 

    Salt

275

266

9

3.38%

215

27.91%

240

14.49%

 

 

    Non_Salt

695

684

11

1.61%

467

48.82%

513

35.37%

 

 

Total

2,009

1,930

79

4.09%

1,490

34.83%

1,681

19.54%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Power Generation Additions/Retirements

 

 

  

 

Front Month Prices

 

 

 

 

 

 

 

 

 

 

 

 

 

Electricity

 

 

 

EOXLive Market Data

 

 

 

Contract

5/1/23

4/28/23

% Change

Change

3/31/23

% Change

4/29/22

% Change

 

 

PJM West On Peak

Jun-23

$40.87

$39.64

3.11%

$1.23

$39.84

2.59%

$65.37

-37.48%

 

 

ERCOT North On Peak

Jun-23

$42.35

$39.45

7.34%

$2.90

$49.25

-14.02%

$58.65

-27.79%

 

 

CAISO SP 15 On Peak

Jun-23

$48.24

$51.38

-6.12%

-$3.14

$53.10

-9.16%

$60.63

-20.45%

 

 

MISO Indiana On Peak

Jun-23

$44.49

$43.78

1.63%

$0.71

$44.12

0.85%

$66.74

-33.33%

 

 

NEISO Mass On Peak

Jun-23

$49.80

$49.00

1.64%

$0.80

$38.71

28.65%

$62.44

-20.24%

 

 

WECC Mid C On Peak

Jun-23

$52.27

$52.93

-1.25%

-$0.66

$74.96

-30.27%

$49.94

4.65%

 

 

NYISO Zone G On Peak

Jun-23

$45.13

$41.66

8.31%

$3.46

$39.51

14.23%

$53.33

-15.38%

 

 

 

 

 

Natural Gas & Basis

 

 

 

EOXLive Market Data

 

 

 

Contract

5/1/23

4/28/23

% Change

Change

3/31/23

% Change

4/29/22

% Change

 

 

NYMEX Henry Hub

Jun-23

$2.318

$2.410

-3.82%

-$0.09

$2.46

-5.96%

$4.43

-47.70%

 

 

Houston Ship Channel

Jun-23

-$0.231

-$0.238

-3.07%

$0.01

-$0.22

3.13%

-$0.19

23.16%

 

 

Chicago

Jun-23

-$0.208

-$0.193

-7.44%

-$0.02

-$0.04

395.71%

-$0.30

-30.92%

 

 

Waha

Jun-23

-$1.196

-$1.237

-3.32%

$0.04

-$1.93

-37.90%

-$2.02

-40.89%

 

 

Algonquin

Jun-23

$1.002

$0.797

25.81%

$0.21

-$0.07

-1448.99%

-$0.72

-239.62%

 

 

Aeco

Jun-23

-$0.773

-$0.740

4.43%

-$0.03

-$0.55

40.26%

-$1.13

-31.70%

 

 

Socal

Jun-23

$0.475

$0.503

-5.65%

-$0.03

$1.19

-60.20%

-$0.43

-210.50%

 

 

 

 

 

Natural Gas Liquids

 

 

 

EOXLive Market Data

 

 

 

Contract

5/1/23

4/28/23

% Change

Change

3/31/23

% Change

4/29/22

% Change

 

 

Mt. Belvieu Propane LST

Jun-23

$0.707

$0.736

-3.88%

-$0.03

$0.79

-10.56%

$1.02

-30.50%

 

 

Mt. Belvieu Propane non LST

Jun-23

$0.704

$0.724

-2.86%

-$0.02

$0.79

-10.88%

$1.02

-30.67%

 

 

Mt. Belview Ethane

Jun-23

$0.203

$0.208

-2.04%

$0.00

$0.21

-4.19%

$0.35

-41.82%

 

 

Mt. Belview Nat. Gasoline

Jun-23

$1.465

$1.478

-0.91%

-$0.01

$1.50

-2.33%

$1.87

-21.66%

 

 

Mt. Belvieu Butane LST

Jun-23

$0.798

$0.824

-3.15%

-$0.03

$0.90

-10.87%

$1.15

-30.46%

 

 

Conway Propane

Jun-23

$0.695

$0.723

-3.95%

-$0.03

$0.77

-9.77%

$1.01

-31.17%

 

 

Conway Nat. Gasoline

Jun-23

$1.485

$1.478

0.50%

$0.01

$1.52

-2.53%

$1.86

-20.18%

 

 

 

 

Crude Oil

 

 

 

EOXLive Market Data

 

 

 

Contract

5/1/23

4/28/23

% Change

Change

3/31/23

% Change

4/29/22

% Change

 

 

WTI

Jun-23

$76.78

$76.78

0.00%

$0.00

$75.80

1.29%

$85.89

-10.61%

 

 

Brent

Jun-23

$80.55

$80.55

0.00%

$0.00

$79.89

0.83%

$90.95

-11.43%

 

 

WCS

Jun-23

-$14.55

-$15.34

-5.41%

$0.79

-$13.84

5.17%

-$12.04

20.86%

 

 

LLS

Jun-23

$77.47

$78.58

-1.44%

-$1.12

$77.58

-0.15%

$88.21

-12.18%

 

 

Mars

Jun-23

$73.86

$74.58

-0.97%

-$0.72

$73.47

0.54%

$84.40

-12.48%

 

 

Sour

Jun-23

$74.17

$75.06

-1.19%

-$0.88

$73.50

0.91%

$84.83

-12.56%

 

 

ESPO

Jun-23

$78.31

$79.36

-1.34%

-$1.05

$78.59

-0.36%

$89.07

-12.08%

 

 

 

 

Refined Products

 

 

 

EOXLive Market Data

 

 

 

Contract

5/1/23

4/28/23

% Change

Change

3/31/23

% Change

4/29/22

% Change

 

 

NY Heating Oil

Jun-23

$2.38

$2.38

0.17%

$0.00

$2.56

-7.03%

$2.91

-18.12%

 

 

NY Gasoline

Jun-23

$2.55

$2.52

1.19%

$0.03

$2.63

-3.00%

$2.74

-6.80%

 

 

GC Gasoline

Jun-23

$2.45

$2.42

1.24%

$0.03

$2.53

-3.12%

$2.64

-7.05%

 

 

GC Jet

Jun-23

$2.18

$2.17

0.51%

$0.01

$2.36

-7.54%

$3.10

-29.64%

 

 

Chicago Ethanol

Jun-23

$2.36

$2.35

0.51%

$0.01

$2.36

0.21%

$2.46

-4.18%

 

 

Rotterdam Gasoil

Jun-23

$651.18

$653.75

-0.39%

-$2.57

$687.85

-5.33%

$786.87

-17.24%

 

 

Singapore Jet Kero

Jun-23

$91.82

$90.99

0.92%

$0.83

$93.16

-1.44%

$109.90

-16.45%

 

 

 

 

Implied Volatilities

 

 

 

EOXLive Market Data

 

 

 

Contract

5/1/23

4/28/23

% Change

Change

3/31/23

% Change

4/29/22

% Change

 

 

Henry Hub Straddle

Jun-23

68.16%

62.43%

9.18%

5.73%

80.05%

-14.85%

41.12%

65.76%

 

 

Algonquin Straddle

Jun-23

163.30%

161.73%

0.97%

1.57%

80.89%

101.88%

53.60%

204.66%

 

 

Waha Straddle

Jun-23

185.12%

195.89%

-5.50%

-10.77%

238.75%

-22.46%

96.69%

91.46%

 

 

Chicago Straddle

Jun-23

70.89%

65.89%

7.59%

5.00%

77.54%

-8.58%

44.41%

59.63%

 

 

PJM West Straddle

Jun-23

73.42%

73.25%

0.23%

0.17%

68.48%

7.21%

52.05%

41.06%

 

 

SP – 15 Straddle

Jun-23

242.02%

66.05%

266.42%

175.97%

134.28%

80.24%

51.71%

368.03%

 

 

Mid. C Straddle

Jun-23

201.26%

180.30%

11.63%

20.96%

165.33%

21.73%

64.99%

209.68%

 

 

 

 

Euro Gas and Power/LNG

 

 

EOXLive Market Data

 

 

 

Contract

5/1/23

4/28/23

% Change

Change

3/31/23

% Change

4/29/22

% Change

 

 

Dutch TTF

Jun-23

EUR 39.44

EUR 38.30

2.99%

EUR 1.15

EUR 47.01

-16.09%

EUR 73.13

-46.06%

 

 

NBP

Jun-23

GBP 90.61

GBP 87.75

3.26%

GBP 2.86

GBP 116.55

-22.25%

GBP 160.13

-43.41%

 

 

German Base

Jun-23

EUR 100.27

EUR 99.60

0.68%

EUR 0.67

EUR 119.06

-15.78%

EUR 170.41

-41.16%

 

 

UK Base

Jun-23

GBP 95.37

GBP 91.86

3.82%

GBP 3.51

GBP 124.14

-23.18%

GBP 167.68

-43.12%

 

 

French Base

Jun-23

EUR 97.66

EUR 102.98

-5.17%

-EUR 5.32

EUR 132.90

-26.52%

EUR 164.41

-40.60%

 

 

Italian Base

Jun-23

EUR 132.28

EUR 129.59

2.08%

EUR 2.69

EUR 142.01

-6.85%

EUR 181.85

-27.26%

 

 

JKM LNG

Jun-23

$11.35

$11.41

-0.55%

-$0.06

$14.60

-22.28%

$20.91

-45.71%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

Cooling Degree Days

 

 

 

 

 

 

04/29/2023

Week Tot

Dev Norm

Dev L YR

Cum Tot

CumD Norm

CumD L YR

CumD Norm

CumD L YR

 

 

New England

0

0

0

2

2

2

NA

NA

 

 

Middle Atlantic

0

0

0

9

9

8

NA

NA

 

 

E N Central

0

-1

-5

3

1

-1

NA

NA

 

 

W N Central

0

-3

-4

4

-4

-1

NA

NA

 

 

South Atlantic

22

0

-6

243

64

24

36.00%

11.00%

 

 

E S Central

1

-7

-15

47

-8

6

NA

NA

 

 

W S Central

16

-14

-30

213

43

-9

25.00%

-4.00%

 

 

Mountain

12

1

3

24

-23

-22

NA

NA

 

 

Pacific

1

-4

1

1

-19

-6

NA

NA

 

 

United States

7

-4

-6

76

13

2

NA

NA

 

 

 

 

Heating Degree Days

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

04/29/2023

Week Tot

Dev Norm

Dev L YR

Cum Tot

CumD Norm

CumD L YR

CumD Norm

CumD L YR

 

 

New England

117

7

-4

5,376

-874

-303

-14.00%

-5.00%

 

 

Middle Atlantic

111

21

13

4,823

-820

-218

-15.00%

-4.00%

 

 

E N Central

138

44

42

5,573

-624

-135

-10.00%

-2.00%

 

 

W N Central

125

42

23

6,363

-119

232

-2.00%

4.00%

 

 

South Atlantic

42

13

18

2,353

-428

-16

-15.00%

-1.00%

 

 

E S Central

67

32

40

3,022

-495

-82

-14.00%

-3.00%

 

 

W S Central

38

26

27

2,084

-184

152

-8.00%

8.00%

 

 

Mountain

82

-1

0

5,275

392

788

8.00%

18.00%

 

 

Pacific

28

-31

-32

3,378

416

586

14.00%

21.00%

 

 

United States

78

16

14

4,009

-309

99

-7.00%

3.00%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

Weather Forecast & Seasonal Outlook

 

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