Morning Report: Gas * Power * NGL * Crude * Products * Vols — May-05-2023

May 5, 2023

  

 

 

 

 

 

 

 

 

 

Prices as of 8:35 AM CST

 

 

 

 

 

 

 

Current Price

Previous Settle

% Change

Change

Volume

 

 

Natural Gas

$2.117

$2.101

0.76%

$0.016

31,653

 

 

WTI

$71.16

$68.56

3.79%

$2.60

119,892

 

 

Brent

$75.00

$72.50

3.45%

$2.50

9,233

 

 

ULSD

$2.303

$2.239

2.88%

$0.064

7,474

 

 

RBOB

$2.382

$2.326

2.42%

$0.056

8,222

 

 

 

 

Spreads

 

 

 

 

 

 

 

Current

Previous

% Change

Change

Contract

 

 

WTI-Brent

$3.93

$3.99

-1.50%

-$0.06

Jul-23

 

 

3:2:1 Crack

$26.93

$27.00

-0.29%

-$0.08

Jun-23

 

 

PJM West Spark

$33.68

$34.66

-2.81%

-$0.97

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

Apr

947

17

141

Apr

 

 

 

 

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

 

 

 

 

05/04/18

 

 

 

4/28/23

4/21/23

Net Change

% Change

4/29/22

% Change

5 Year Avg.

% Change

 

 

East

410

390

20

5.13%

253

62.06%

310

32.17%

 

 

Midwest

481

468

13

2.78%

324

48.46%

369

30.35%

 

 

Mountain

95

90

5

5.56%

92

3.26%

99

-4.43%

 

 

Pacific

100

90

10

11.11%

176

-43.18%

197

-49.24%

 

 

South

977

971

6

0.62%

721

35.51%

789

23.83%

 

 

    Salt

278

275

3

1.09%

233

19.31%

253

9.79%

 

 

    Non_Salt

699

695

4

0.58%

489

42.94%

536

30.41%

 

 

Total

2,063

2,009

54

2.69%

1,567

31.65%

1,765

16.91%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Power Generation Additions/Retirements

 

 

  

 

Front Month Prices

 

 

 

 

 

 

 

 

 

 

 

 

 

Electricity

 

 

 

EOXLive Market Data

 

 

 

Contract

5/4/23

5/3/23

% Change

Change

4/5/23

% Change

5/4/22

% Change

 

 

PJM West On Peak

Jun-23

$38.21

$39.15

-2.40%

-$0.94

$42.36

-9.78%

$69.82

-45.26%

 

 

ERCOT North On Peak

Jun-23

$44.40

$42.75

3.85%

$1.65

$46.05

-3.58%

$66.28

-33.01%

 

 

CAISO SP 15 On Peak

Jun-23

$47.59

$46.47

2.42%

$1.13

$50.67

-6.07%

$65.83

-27.70%

 

 

MISO Indiana On Peak

Jun-23

$41.05

$41.99

-2.24%

-$0.94

$46.09

-10.94%

$70.61

-41.87%

 

 

NEISO Mass On Peak

Jun-23

$47.21

$47.17

0.07%

$0.03

$38.69

22.00%

$59.27

-20.35%

 

 

WECC Mid C On Peak

Jun-23

$44.83

$43.44

3.19%

$1.39

$67.02

-33.12%

$53.30

-15.90%

 

 

NYISO Zone G On Peak

Jun-23

$41.19

$41.29

-0.24%

-$0.10

$39.77

3.57%

$58.35

-29.40%

 

 

 

 

 

Natural Gas & Basis

 

 

 

EOXLive Market Data

 

 

 

Contract

5/4/23

5/3/23

% Change

Change

4/5/23

% Change

5/4/22

% Change

 

 

NYMEX Henry Hub

Jun-23

$2.101

$2.170

-3.18%

-$0.07

$2.38

-11.76%

$4.83

-56.54%

 

 

Houston Ship Channel

Jun-23

-$0.212

-$0.205

3.22%

-$0.01

-$0.22

-4.99%

-$0.19

11.55%

 

 

Chicago

Jun-23

-$0.214

-$0.200

-6.59%

-$0.01

-$0.05

325.90%

-$0.28

-23.94%

 

 

Waha

Jun-23

-$1.158

-$1.147

-0.98%

-$0.01

-$1.73

-32.89%

-$2.05

-43.62%

 

 

Algonquin

Jun-23

$0.984

$1.017

-3.18%

-$0.03

-$0.06

-1735.05%

-$0.76

-230.23%

 

 

Aeco

Jun-23

-$0.810

-$0.773

4.75%

-$0.04

-$0.61

32.58%

-$1.13

-28.09%

 

 

Socal

Jun-23

$0.265

$0.168

57.56%

$0.10

$0.82

-67.65%

-$0.37

-171.04%

 

 

 

 

 

Natural Gas Liquids

 

 

 

EOXLive Market Data

 

 

 

Contract

5/4/23

5/3/23

% Change

Change

4/5/23

% Change

5/4/22

% Change

 

 

Mt. Belvieu Propane LST

Jun-23

$0.670

$0.648

3.48%

$0.02

$0.83

-19.27%

$1.01

-33.68%

 

 

Mt. Belvieu Propane non LST

Jun-23

$0.667

$0.648

3.06%

$0.02

$0.83

-19.97%

$1.01

-34.18%

 

 

Mt. Belview Ethane

Jun-23

$0.201

$0.196

2.72%

$0.01

$0.22

-6.99%

$0.37

-45.18%

 

 

Mt. Belview Nat. Gasoline

Jun-23

$1.361

$1.373

-0.88%

-$0.01

$1.59

-14.54%

$1.87

-27.39%

 

 

Mt. Belvieu Butane LST

Jun-23

$0.717

$0.716

0.13%

$0.00

$0.96

-25.41%

$1.17

-38.61%

 

 

Conway Propane

Jun-23

$0.653

$0.638

2.35%

$0.01

$0.81

-19.82%

$1.02

-36.16%

 

 

Conway Nat. Gasoline

Jun-23

$1.413

$1.396

1.26%

$0.02

$1.61

-12.07%

$1.86

-23.91%

 

 

 

 

Crude Oil

 

 

 

EOXLive Market Data

 

 

 

Contract

5/4/23

5/3/23

% Change

Change

4/5/23

% Change

5/4/22

% Change

 

 

WTI

Jun-23

$68.56

$68.60

-0.06%

-$0.04

$80.63

-14.97%

$89.13

-23.08%

 

 

Brent

Jun-23

$72.61

$72.43

0.26%

$0.19

$84.99

-14.56%

$94.16

-22.88%

 

 

WCS

Jun-23

-$15.70

-$15.34

2.31%

-$0.36

-$15.36

2.22%

-$11.88

32.23%

 

 

LLS

Jun-23

$70.54

$70.07

0.67%

$0.47

$82.34

-14.33%

$89.86

-21.50%

 

 

Mars

Jun-23

$66.17

$65.96

0.31%

$0.20

$78.18

-15.37%

$87.40

-24.30%

 

 

Sour

Jun-23

$67.24

$66.80

0.66%

$0.44

$78.68

-14.53%

$87.08

-22.78%

 

 

ESPO

Jun-23

$71.75

$71.28

0.66%

$0.47

$83.05

-13.60%

$89.60

-19.92%

 

 

 

 

Refined Products

 

 

 

EOXLive Market Data

 

 

 

Contract

5/4/23

5/3/23

% Change

Change

4/5/23

% Change

5/4/22

% Change

 

 

NY Heating Oil

Jun-23

$2.23

$2.21

1.18%

$0.03

$2.67

-16.29%

$2.97

-24.80%

 

 

NY Gasoline

Jun-23

$2.29

$2.31

-0.48%

-$0.01

$2.75

-16.52%

$2.81

-18.39%

 

 

GC Gasoline

Jun-23

$2.19

$2.20

-0.50%

-$0.01

$2.65

-17.15%

$2.71

-19.07%

 

 

GC Jet

Jun-23

$2.06

$2.04

1.03%

$0.02

$2.51

-17.80%

$2.98

-31.02%

 

 

Chicago Ethanol

Jun-23

$2.35

$2.36

-0.21%

-$0.01

$2.39

-1.63%

$2.43

-3.21%

 

 

Rotterdam Gasoil

Jun-23

$606.33

$598.99

1.22%

$7.34

$722.57

-16.09%

$810.02

-25.15%

 

 

Singapore Jet Kero

Jun-23

$85.28

$84.82

0.54%

$0.46

$99.50

-14.29%

$110.34

-22.71%

 

 

 

 

Implied Volatilities

 

 

 

EOXLive Market Data

 

 

 

Contract

5/4/23

5/3/23

% Change

Change

4/5/23

% Change

5/4/22

% Change

 

 

Henry Hub Straddle

Jun-23

68.63%

66.22%

3.64%

2.41%

81.49%

-15.78%

43.49%

57.81%

 

 

Algonquin Straddle

Jun-23

156.05%

159.29%

-2.03%

-3.24%

86.00%

81.45%

53.73%

190.43%

 

 

Waha Straddle

Jun-23

209.51%

175.14%

19.62%

34.37%

228.07%

-8.14%

93.02%

125.23%

 

 

Chicago Straddle

Jun-23

73.44%

80.48%

-8.75%

-7.04%

81.52%

-9.91%

47.06%

56.06%

 

 

PJM West Straddle

Jun-23

72.47%

73.75%

-1.74%

-1.28%

75.61%

-4.15%

61.21%

18.40%

 

 

SP – 15 Straddle

Jun-23

192.57%

66.01%

191.73%

126.56%

145.59%

32.27%

54.17%

255.49%

 

 

Mid. C Straddle

Jun-23

240.34%

249.57%

-3.70%

-9.23%

167.81%

43.22%

66.43%

261.79%

 

 

 

 

Euro Gas and Power/LNG

 

 

EOXLive Market Data

 

 

 

Contract

5/4/23

5/3/23

% Change

Change

4/5/23

% Change

5/4/22

% Change

 

 

Dutch TTF

Jun-23

EUR 35.78

EUR 36.99

-3.28%

-EUR 1.22

EUR 45.70

-21.71%

EUR 77.52

-53.85%

 

 

NBP

Jun-23

GBP 80.85

GBP 83.75

-3.46%

-GBP 2.90

GBP 111.50

-27.49%

GBP 166.43

-51.42%

 

 

German Base

Jun-23

EUR 92.59

EUR 93.70

-1.19%

-EUR 1.11

EUR 122.31

-24.30%

EUR 183.78

-49.62%

 

 

UK Base

Jun-23

GBP 87.05

GBP 88.88

-2.06%

-GBP 1.83

GBP 118.72

-26.67%

GBP 166.59

-47.74%

 

 

French Base

Jun-23

EUR 92.50

EUR 94.31

-1.92%

-EUR 1.81

EUR 125.07

-26.04%

EUR 173.15

-46.58%

 

 

Italian Base

Jun-23

EUR 119.65

EUR 125.44

-4.61%

-EUR 5.78

EUR 148.41

-19.37%

EUR 196.99

-39.26%

 

 

JKM LNG

Jun-23

$10.59

$11.10

-4.60%

-$0.51

$12.22

-13.37%

$21.97

-51.81%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

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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