Morning Report: Gas * Power * NGL * Crude * Products * Vols — May-03-2023

May 3, 2023

  

 

 

 

 

 

 

 

 

 

Prices as of 8:34 AM CST

 

 

 

 

 

 

 

Current Price

Previous Settle

% Change

Change

Volume

 

 

Natural Gas

$2.156

$2.214

-2.62%

-$0.058

31,671

 

 

WTI

$69.52

$71.66

-2.99%

-$2.14

184,397

 

 

Brent

$73.24

$75.32

-2.76%

-$2.08

14,451

 

 

ULSD

$2.238

$2.289

-2.23%

-$0.051

10,058

 

 

RBOB

$2.382

$2.436

-2.20%

-$0.054

9,083

 

 

 

 

Spreads

 

 

 

 

 

 

 

Current

Previous

% Change

Change

Contract

 

 

WTI-Brent

$3.79

$3.77

0.53%

$0.02

Jul-23

 

 

3:2:1 Crack

$27.40

$27.46

-0.21%

-$0.06

Jun-23

 

 

PJM West Spark

$34.94

$36.13

-3.29%

-$1.19

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

5/2/23

5/1/23

% Change

Change

4/3/23

% Change

5/2/22

% Change

 

 

PJM West On Peak

Jun-23

$39.55

$40.87

-3.21%

-$1.31

$41.22

-4.04%

$70.89

-44.20%

 

 

ERCOT North On Peak

Jun-23

$43.01

$42.35

1.56%

$0.66

$50.29

-14.47%

$60.25

-28.61%

 

 

CAISO SP 15 On Peak

Jun-23

$48.10

$48.24

-0.27%

-$0.13

$49.71

-3.24%

$62.85

-23.47%

 

 

MISO Indiana On Peak

Jun-23

$42.89

$44.49

-3.60%

-$1.60

$45.50

-5.73%

$72.31

-40.69%

 

 

NEISO Mass On Peak

Jun-23

$49.13

$49.80

-1.35%

-$0.67

$40.27

22.01%

$61.64

-20.29%

 

 

WECC Mid C On Peak

Jun-23

$47.59

$52.27

-8.94%

-$4.67

$68.55

-30.57%

$51.19

-7.03%

 

 

NYISO Zone G On Peak

Jun-23

$42.97

$45.13

-4.79%

-$2.16

$40.89

5.07%

$60.99

-29.55%

 

 

 

 

 

Natural Gas & Basis

 

 

 

EOXLive Market Data

 

 

 

Contract

5/2/23

5/1/23

% Change

Change

4/3/23

% Change

5/2/22

% Change

 

 

NYMEX Henry Hub

Jun-23

$2.214

$2.318

-4.49%

-$0.10

$2.33

-5.10%

$4.67

-52.61%

 

 

Houston Ship Channel

Jun-23

-$0.232

-$0.231

0.61%

$0.00

-$0.20

13.99%

-$0.20

19.02%

 

 

Chicago

Jun-23

-$0.212

-$0.208

-1.93%

$0.00

-$0.04

480.05%

-$0.31

-32.11%

 

 

Waha

Jun-23

-$1.175

-$1.196

-1.76%

$0.02

-$1.82

-35.54%

-$2.10

-43.99%

 

 

Algonquin

Jun-23

$1.008

$1.002

0.56%

$0.01

-$0.09

-1284.37%

-$0.77

-231.17%

 

 

Aeco

Jun-23

-$0.799

-$0.773

3.39%

-$0.03

-$0.55

45.68%

-$1.15

-30.53%

 

 

Socal

Jun-23

$0.368

$0.475

-22.49%

-$0.11

$1.00

-63.26%

-$0.43

-186.34%

 

 

 

 

 

Natural Gas Liquids

 

 

 

EOXLive Market Data

 

 

 

Contract

5/2/23

5/1/23

% Change

Change

4/3/23

% Change

5/2/22

% Change

 

 

Mt. Belvieu Propane LST

Jun-23

$0.673

$0.707

-4.94%

-$0.03

$0.83

-18.92%

$1.01

-33.21%

 

 

Mt. Belvieu Propane non LST

Jun-23

$0.670

$0.704

-4.78%

-$0.03

$0.83

-19.49%

$1.00

-32.89%

 

 

Mt. Belview Ethane

Jun-23

$0.203

$0.203

0.00%

$0.00

$0.21

-3.47%

$0.36

-43.12%

 

 

Mt. Belview Nat. Gasoline

Jun-23

$1.475

$1.465

0.69%

$0.01

$1.60

-7.93%

$1.85

-20.39%

 

 

Mt. Belvieu Butane LST

Jun-23

$0.758

$0.798

-5.02%

-$0.04

$0.95

-20.06%

$1.14

-33.46%

 

 

Conway Propane

Jun-23

$0.658

$0.695

-5.36%

-$0.04

$0.81

-19.27%

$1.01

-34.63%

 

 

Conway Nat. Gasoline

Jun-23

$1.504

$1.485

1.30%

$0.02

$1.62

-7.25%

$1.86

-19.14%

 

 

 

 

Crude Oil

 

 

 

EOXLive Market Data

 

 

 

Contract

5/2/23

5/1/23

% Change

Change

4/3/23

% Change

5/2/22

% Change

 

 

WTI

Jun-23

$71.66

$75.66

-5.58%

-$4.00

$80.44

-10.91%

$86.50

-17.16%

 

 

Brent

Jun-23

$75.48

$79.54

-5.38%

-$4.06

$84.93

-11.13%

$91.65

-17.64%

 

 

WCS

Jun-23

-$14.06

-$14.55

-3.52%

$0.49

-$14.97

-6.10%

-$12.50

12.47%

 

 

LLS

Jun-23

$73.60

$77.47

-5.25%

-$3.87

$82.41

-10.69%

$83.79

-12.17%

 

 

Mars

Jun-23

$69.85

$73.86

-5.74%

-$4.01

$78.09

-10.55%

$84.85

-17.67%

 

 

Sour

Jun-23

$70.17

$74.17

-5.70%

-$4.00

$78.07

-10.11%

$86.18

-18.57%

 

 

ESPO

Jun-23

$74.86

$78.31

-4.61%

-$3.45

$83.66

-10.52%

$84.69

-11.60%

 

 

 

 

Refined Products

 

 

 

EOXLive Market Data

 

 

 

Contract

5/2/23

5/1/23

% Change

Change

4/3/23

% Change

5/2/22

% Change

 

 

NY Heating Oil

Jun-23

$2.29

$2.38

-3.74%

-$0.09

$2.62

-12.41%

$2.93

-21.87%

 

 

NY Gasoline

Jun-23

$2.44

$2.55

-4.43%

-$0.11

$2.71

-10.00%

$2.71

-10.04%

 

 

GC Gasoline

Jun-23

$2.34

$2.45

-4.61%

-$0.11

$2.61

-10.39%

$2.61

-10.42%

 

 

GC Jet

Jun-23

$2.10

$2.18

-3.67%

-$0.08

$2.45

-14.17%

$2.78

-24.39%

 

 

Chicago Ethanol

Jun-23

$2.35

$2.36

-0.51%

-$0.01

$2.38

-1.26%

$2.44

-3.61%

 

 

Rotterdam Gasoil

Jun-23

$619.66

$651.18

-4.84%

-$31.52

$724.28

-14.45%

$818.38

-24.28%

 

 

Singapore Jet Kero

Jun-23

$90.31

$91.82

-1.65%

-$1.51

$99.02

-8.80%

$109.56

-17.57%

 

 

 

 

Implied Volatilities

 

 

 

EOXLive Market Data

 

 

 

Contract

5/2/23

5/1/23

% Change

Change

4/3/23

% Change

5/2/22

% Change

 

 

Henry Hub Straddle

Jun-23

68.00%

68.16%

-0.23%

-0.16%

88.67%

-23.31%

43.85%

55.07%

 

 

Algonquin Straddle

Jun-23

165.46%

163.30%

1.32%

2.16%

95.84%

72.64%

54.65%

202.76%

 

 

Waha Straddle

Jun-23

196.07%

185.12%

5.92%

10.95%

239.21%

-18.03%

91.58%

114.10%

 

 

Chicago Straddle

Jun-23

79.48%

70.89%

12.12%

8.59%

82.82%

-4.03%

46.72%

70.12%

 

 

PJM West Straddle

Jun-23

70.59%

73.42%

-3.85%

-2.83%

74.48%

-5.22%

52.40%

34.71%

 

 

SP – 15 Straddle

Jun-23

234.82%

242.02%

-2.97%

-7.20%

162.85%

44.19%

53.24%

341.06%

 

 

Mid. C Straddle

Jun-23

185.90%

201.26%

-7.63%

-15.36%

161.75%

14.93%

71.30%

160.73%

 

 

 

 

Euro Gas and Power/LNG

 

 

EOXLive Market Data

 

 

 

Contract

5/2/23

5/1/23

% Change

Change

4/3/23

% Change

5/2/22

% Change

 

 

Dutch TTF

Jun-23

EUR 37.55

EUR 39.44

-4.80%

-EUR 1.90

EUR 50.75

-26.01%

EUR 69.51

-45.98%

 

 

NBP

Jun-23

GBP 85.40

GBP 90.61

-5.76%

-GBP 5.21

GBP 127.00

-32.76%

GBP 158.27

-46.04%

 

 

German Base

Jun-23

EUR 95.50

EUR 100.27

-4.76%

-EUR 4.77

EUR 133.75

-28.60%

EUR 166.42

-42.61%

 

 

UK Base

Jun-23

GBP 95.67

GBP 95.37

0.31%

GBP 0.30

GBP 128.57

-25.59%

GBP 151.08

-36.68%

 

 

French Base

Jun-23

EUR 102.29

EUR 97.66

4.75%

EUR 4.63

EUR 140.43

-27.16%

EUR 154.43

-33.76%

 

 

Italian Base

Jun-23

EUR 124.92

EUR 132.28

-5.57%

-EUR 7.37

EUR 157.99

-20.93%

EUR 182.94

-31.72%

 

 

JKM LNG

Jun-23

$10.93

$11.35

-3.68%

-$0.42

$16.16

-32.33%

$22.42

-51.22%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

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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