Morning Report: Gas * Power * NGL * Crude * Products * Vols — May-04-2023

May 4, 2023

  

 

 

 

 

 

 

 

 

 

Prices as of 8:35 AM CST

 

 

 

 

 

 

 

Current Price

Previous Settle

% Change

Change

Volume

 

 

Natural Gas

$2.148

$2.170

-1.01%

-$0.022

22,374

 

 

WTI

$68.41

$68.60

-0.28%

-$0.19

173,772

 

 

Brent

$72.38

$72.33

0.07%

$0.05

14,043

 

 

ULSD

$2.233

$2.232

0.02%

$0.001

8,333

 

 

RBOB

$2.305

$2.322

-0.72%

-$0.017

10,784

 

 

 

 

Spreads

 

 

 

 

 

 

 

Current

Previous

% Change

Change

Contract

 

 

WTI-Brent

$3.99

$3.78

5.56%

$0.21

Jul-23

 

 

3:2:1 Crack

$26.53

$26.71

-0.69%

-$0.18

Jun-23

 

 

PJM West Spark

$34.56

$34.91

-1.02%

-$0.36

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

5/3/23

5/2/23

% Change

Change

4/4/23

% Change

5/3/22

% Change

 

 

PJM West On Peak

Jun-23

$39.15

$39.55

-1.01%

-$0.40

$37.42

4.63%

$72.08

-45.68%

 

 

ERCOT North On Peak

Jun-23

$42.75

$43.01

-0.60%

-$0.26

$48.39

-11.64%

$62.72

-31.83%

 

 

CAISO SP 15 On Peak

Jun-23

$46.47

$48.10

-3.40%

-$1.64

$49.09

-5.35%

$61.52

-24.47%

 

 

MISO Indiana On Peak

Jun-23

$41.99

$42.89

-2.10%

-$0.90

$41.24

1.81%

$73.41

-42.80%

 

 

NEISO Mass On Peak

Jun-23

$47.17

$49.13

-3.99%

-$1.96

$39.05

20.81%

$57.65

-18.17%

 

 

WECC Mid C On Peak

Jun-23

$43.44

$47.59

-8.73%

-$4.15

$65.01

-33.18%

$52.61

-17.43%

 

 

NYISO Zone G On Peak

Jun-23

$41.29

$42.97

-3.89%

-$1.67

$40.29

2.48%

$59.75

-30.89%

 

 

 

 

 

Natural Gas & Basis

 

 

 

EOXLive Market Data

 

 

 

Contract

5/3/23

5/2/23

% Change

Change

4/4/23

% Change

5/3/22

% Change

 

 

NYMEX Henry Hub

Jun-23

$2.170

$2.214

-1.99%

-$0.04

$2.34

-7.42%

$4.71

-53.90%

 

 

Houston Ship Channel

Jun-23

-$0.205

-$0.232

-11.76%

$0.03

-$0.23

-11.53%

-$0.19

9.28%

 

 

Chicago

Jun-23

-$0.200

-$0.212

6.31%

$0.01

-$0.04

361.20%

-$0.30

-33.74%

 

 

Waha

Jun-23

-$1.147

-$1.175

-2.36%

$0.03

-$1.76

-34.73%

-$2.04

-43.89%

 

 

Algonquin

Jun-23

$1.017

$1.008

0.86%

$0.01

-$0.07

-1537.91%

-$0.74

-236.53%

 

 

Aeco

Jun-23

-$0.773

-$0.799

-3.23%

$0.03

-$0.59

31.75%

-$1.13

-31.52%

 

 

Socal

Jun-23

$0.168

$0.368

-54.32%

-$0.20

$0.80

-78.90%

-$0.42

-140.05%

 

 

 

 

 

Natural Gas Liquids

 

 

 

EOXLive Market Data

 

 

 

Contract

5/3/23

5/2/23

% Change

Change

4/4/23

% Change

5/3/22

% Change

 

 

Mt. Belvieu Propane LST

Jun-23

$0.648

$0.673

-3.72%

-$0.03

$0.84

-22.91%

$1.01

-35.99%

 

 

Mt. Belvieu Propane non LST

Jun-23

$0.648

$0.670

-3.36%

-$0.02

$0.84

-23.05%

$0.99

-34.70%

 

 

Mt. Belview Ethane

Jun-23

$0.196

$0.203

-3.71%

-$0.01

$0.21

-7.30%

$0.40

-50.66%

 

 

Mt. Belview Nat. Gasoline

Jun-23

$1.373

$1.475

-6.93%

-$0.10

$1.62

-15.24%

$1.89

-27.26%

 

 

Mt. Belvieu Butane LST

Jun-23

$0.716

$0.758

-5.52%

-$0.04

$0.96

-25.10%

$1.15

-37.52%

 

 

Conway Propane

Jun-23

$0.638

$0.658

-3.05%

-$0.02

$0.82

-22.48%

$0.99

-35.89%

 

 

Conway Nat. Gasoline

Jun-23

$1.396

$1.504

-7.23%

-$0.11

$1.63

-14.55%

$1.83

-23.76%

 

 

 

 

Crude Oil

 

 

 

EOXLive Market Data

 

 

 

Contract

5/3/23

5/2/23

% Change

Change

4/4/23

% Change

5/3/22

% Change

 

 

WTI

Jun-23

$68.60

$71.66

-4.46%

-$3.06

$80.72

-15.01%

$85.79

-20.04%

 

 

Brent

Jun-23

$72.43

$75.48

-4.22%

-$3.05

$84.94

-14.73%

$90.83

-20.26%

 

 

WCS

Jun-23

-$15.34

-$14.06

8.38%

-$1.28

-$14.25

7.66%

-$13.12

16.90%

 

 

LLS

Jun-23

$70.07

$73.60

-5.04%

-$3.53

$81.80

-14.34%

$87.52

-19.94%

 

 

Mars

Jun-23

$65.96

$69.85

-5.90%

-$3.89

$78.19

-15.63%

$83.40

-20.90%

 

 

Sour

Jun-23

$66.80

$70.17

-5.05%

-$3.38

$78.16

-14.54%

$87.22

-23.42%

 

 

ESPO

Jun-23

$71.28

$74.86

-5.02%

-$3.58

$82.80

-13.91%

$86.09

-17.20%

 

 

 

 

Refined Products

 

 

 

EOXLive Market Data

 

 

 

Contract

5/3/23

5/2/23

% Change

Change

4/4/23

% Change

5/3/22

% Change

 

 

NY Heating Oil

Jun-23

$2.21

$2.29

-3.66%

-$0.08

$2.62

-15.62%

$2.91

-24.01%

 

 

NY Gasoline

Jun-23

$2.31

$2.44

-5.46%

-$0.13

$2.70

-14.76%

$2.69

-14.47%

 

 

GC Gasoline

Jun-23

$2.20

$2.34

-5.69%

-$0.13

$2.60

-15.32%

$2.60

-15.03%

 

 

GC Jet

Jun-23

$2.04

$2.10

-3.04%

-$0.06

$2.45

-16.95%

$2.68

-24.01%

 

 

Chicago Ethanol

Jun-23

$2.36

$2.35

0.21%

$0.01

$2.39

-1.59%

$2.42

-2.85%

 

 

Rotterdam Gasoil

Jun-23

$598.99

$619.66

-3.33%

-$20.66

$712.71

-15.96%

$807.47

-25.82%

 

 

Singapore Jet Kero

Jun-23

$84.82

$90.31

-6.08%

-$5.49

$100.16

-15.32%

$108.60

-21.90%

 

 

 

 

Implied Volatilities

 

 

 

EOXLive Market Data

 

 

 

Contract

5/3/23

5/2/23

% Change

Change

4/4/23

% Change

5/3/22

% Change

 

 

Henry Hub Straddle

Jun-23

66.22%

68.00%

-2.62%

-1.78%

85.01%

-22.10%

47.84%

38.42%

 

 

Algonquin Straddle

Jun-23

159.29%

165.46%

-3.73%

-6.17%

90.72%

75.58%

57.35%

177.75%

 

 

Waha Straddle

Jun-23

175.14%

196.07%

-10.67%

-20.93%

233.35%

-24.95%

95.88%

82.67%

 

 

Chicago Straddle

Jun-23

80.48%

79.48%

1.26%

1.00%

87.68%

-8.21%

50.94%

57.99%

 

 

PJM West Straddle

Jun-23

73.75%

70.59%

4.48%

3.16%

73.54%

0.29%

59.96%

23.00%

 

 

SP – 15 Straddle

Jun-23

66.01%

234.82%

-71.89%

-168.81%

182.72%

-63.87%

53.43%

23.54%

 

 

Mid. C Straddle

Jun-23

249.57%

185.90%

34.25%

63.67%

155.82%

60.17%

65.52%

280.91%

 

 

 

 

Euro Gas and Power/LNG

 

 

EOXLive Market Data

 

 

 

Contract

5/3/23

5/2/23

% Change

Change

4/4/23

% Change

5/3/22

% Change

 

 

Dutch TTF

Jun-23

EUR 36.99

EUR 37.55

-1.48%

-EUR 0.56

EUR 45.88

-19.36%

EUR 72.64

-49.07%

 

 

NBP

Jun-23

GBP 83.75

GBP 85.40

-1.93%

-GBP 1.65

GBP 114.40

-26.79%

GBP 156.29

-46.42%

 

 

German Base

Jun-23

EUR 93.70

EUR 95.50

-1.88%

-EUR 1.80

EUR 120.69

-22.36%

EUR 171.31

-45.30%

 

 

UK Base

Jun-23

GBP 88.88

GBP 95.67

-7.10%

-GBP 6.79

GBP 114.62

-22.46%

GBP 176.63

-49.68%

 

 

French Base

Jun-23

EUR 94.31

EUR 102.29

-7.81%

-EUR 7.99

EUR 131.56

-28.32%

EUR 163.96

-42.48%

 

 

Italian Base

Jun-23

EUR 125.44

EUR 124.92

0.42%

EUR 0.52

EUR 140.15

-10.50%

EUR 183.79

-31.75%

 

 

JKM LNG

Jun-23

$11.10

$10.93

1.48%

$0.16

$14.23

-22.05%

$22.05

-49.67%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

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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