Morning Report: Gas * Power * NGL * Crude * Products * Vols — May-09-2023

May 9, 2023

  

 

 

 

 

 

 

 

 

 

Prices as of 9:00 AM CST

 

 

 

 

 

 

 

Current Price

Previous Settle

% Change

Change

Volume

 

 

Natural Gas

$2.261

$2.238

1.03%

$0.023

41,448

 

 

WTI

$72.59

$73.16

-0.78%

-$0.57

104,436

 

 

Brent

$76.39

$77.01

-0.81%

-$0.62

8,570

 

 

ULSD

$2.362

$2.378

-0.66%

-$0.016

7,688

 

 

RBOB

$2.460

$2.462

-0.08%

-$0.002

12,304

 

 

 

 

Spreads

 

 

 

 

 

 

 

Current

Previous

% Change

Change

Contract

 

 

WTI-Brent

$3.91

$3.94

-0.76%

-$0.03

Jul-23

 

 

3:2:1 Crack

$28.30

$28.05

0.91%

$0.26

Jun-23

 

 

PJM West Spark

$34.90

$33.43

4.42%

$1.48

Jun-23

 

 

 

 

Baker Hughes Rig Count

 

 

 

 

 

 

 

Date

Count

Change

1 Year Chg.

1 Year Date

 

 

U.S.

05/05/23

748

-7

43

05/06/22

 

 

Canada

04/28/23

93

0

2

05/06/22

 

 

International

Apr

947

17

141

Apr

 

 

 

 

CFTC Net Positions

 

 

 

 

 

 

As of 5/2/2023

Open Interest

Total Net Long

Total Net Short

Diff

 

 

PJM West On Peak

104,388

102,864

103,438

-574

 

 

PJM West Off Peak

89,527

88,246

88,536

-290

 

 

Natural Gas Henry Hub

445,841

417,862

432,263

-14,401

 

 

WTI – Light Sweet Crude Futures

265,282

196,694

192,257

4,437

 

 

Brent Crude Last Day

129,626

118,746

123,632

-4,886

 

 

NYM Ethanol

30,674

30,133

30,168

-35

 

 

Mt Belvieu LDH Propane Swap

152,900

151,647

152,341

-694

 

 

RBOB

294,956

273,509

280,094

-6,585

 

 

HSC Basis

578,231

570,759

566,644

4,115

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

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

5/8/23

5/5/23

% Change

Change

4/10/23

% Change

5/6/22

% Change

 

 

PJM West On Peak

Jun-23

$39.74

$38.21

4.00%

$1.53

$43.25

-8.11%

$73.73

-46.09%

 

 

ERCOT North On Peak

Jun-23

$46.06

$45.73

0.73%

$0.33

$45.52

1.17%

$67.80

-32.07%

 

 

CAISO SP 15 On Peak

Jun-23

$49.96

$49.99

-0.05%

-$0.03

$48.44

3.15%

$66.45

-24.82%

 

 

MISO Indiana On Peak

Jun-23

$42.82

$41.14

4.10%

$1.69

$47.27

-9.42%

$74.61

-42.61%

 

 

NEISO Mass On Peak

Jun-23

$46.59

$47.31

-1.52%

-$0.72

$39.64

17.54%

$63.15

-26.22%

 

 

WECC Mid C On Peak

Jun-23

$60.96

$55.60

9.64%

$5.36

$65.02

-6.25%

$49.96

22.02%

 

 

NYISO Zone G On Peak

Jun-23

$42.85

$41.38

3.56%

$1.47

$40.04

7.03%

$63.04

-32.03%

 

 

 

 

 

Natural Gas & Basis

 

 

 

EOXLive Market Data

 

 

 

Contract

5/8/23

5/5/23

% Change

Change

4/10/23

% Change

5/6/22

% Change

 

 

NYMEX Henry Hub

Jun-23

$2.238

$2.137

4.73%

$0.10

$2.36

-5.21%

$4.78

-53.21%

 

 

Houston Ship Channel

Jun-23

-$0.225

-$0.220

2.22%

$0.00

-$0.23

0.00%

-$0.19

19.14%

 

 

Chicago

Jun-23

-$0.235

-$0.238

1.15%

$0.00

-$0.06

291.68%

-$0.29

-19.41%

 

 

Waha

Jun-23

-$1.259

-$1.231

-2.25%

-$0.03

-$1.64

-23.32%

-$2.14

-41.09%

 

 

Algonquin

Jun-23

$1.189

$1.162

2.26%

$0.03

-$0.05

-2359.89%

-$0.76

-257.01%

 

 

Aeco

Jun-23

-$0.843

-$0.868

-2.89%

$0.03

-$0.58

46.28%

-$1.18

-28.70%

 

 

Socal

Jun-23

$0.226

$0.205

10.20%

$0.02

$0.83

-72.84%

-$0.38

-159.89%

 

 

 

 

 

Natural Gas Liquids

 

 

 

EOXLive Market Data

 

 

 

Contract

5/8/23

5/5/23

% Change

Change

4/10/23

% Change

5/6/22

% Change

 

 

Mt. Belvieu Propane LST

Jun-23

$0.705

$0.695

1.43%

$0.01

$0.81

-13.41%

$1.02

-31.15%

 

 

Mt. Belvieu Propane non LST

Jun-23

$0.702

$0.685

2.56%

$0.02

$0.82

-13.94%

$1.03

-31.54%

 

 

Mt. Belview Ethane

Jun-23

$0.197

$0.196

0.23%

$0.00

$0.20

-2.45%

$0.36

-46.08%

 

 

Mt. Belview Nat. Gasoline

Jun-23

$1.409

$1.366

3.18%

$0.04

$1.58

-10.74%

$1.88

-25.14%

 

 

Mt. Belvieu Butane LST

Jun-23

$0.758

$0.746

1.72%

$0.01

$0.95

-19.97%

$1.17

-35.40%

 

 

Conway Propane

Jun-23

$0.701

$0.687

1.99%

$0.01

$0.80

-12.74%

$1.02

-31.09%

 

 

Conway Nat. Gasoline

Jun-23

$1.457

$1.407

3.53%

$0.05

$1.58

-7.89%

$1.87

-22.26%

 

 

 

 

Crude Oil

 

 

 

EOXLive Market Data

 

 

 

Contract

5/8/23

5/5/23

% Change

Change

4/10/23

% Change

5/6/22

% Change

 

 

WTI

Jun-23

$73.16

$71.34

2.49%

$1.82

$79.77

-8.29%

$90.20

-18.89%

 

 

Brent

Jun-23

$77.14

$75.43

2.21%

$1.71

$84.18

-8.36%

$95.39

-19.13%

 

 

WCS

Jun-23

-$14.54

-$14.50

0.23%

-$0.03

-$15.00

-3.09%

-$12.94

12.36%

 

 

LLS

Jun-23

$75.04

$73.41

2.17%

$1.63

$82.39

-8.92%

$91.30

-17.81%

 

 

Mars

Jun-23

$70.50

$69.15

1.90%

$1.34

$77.86

-9.45%

$88.32

-20.18%

 

 

Sour

Jun-23

$72.46

$70.39

2.86%

$2.07

$78.46

-7.64%

$87.12

-16.83%

 

 

ESPO

Jun-23

$76.26

$74.78

1.95%

$1.49

$83.69

-8.87%

$91.45

-16.60%

 

 

 

 

Refined Products

 

 

 

EOXLive Market Data

 

 

 

Contract

5/8/23

5/5/23

% Change

Change

4/10/23

% Change

5/6/22

% Change

 

 

NY Heating Oil

Jun-23

$2.38

$2.32

2.63%

$0.06

$2.63

-9.54%

$3.03

-21.37%

 

 

NY Gasoline

Jun-23

$2.47

$2.38

3.53%

$0.08

$2.75

-10.39%

$2.89

-14.73%

 

 

GC Gasoline

Jun-23

$2.37

$2.28

3.68%

$0.08

$2.65

-10.78%

$2.79

-15.26%

 

 

GC Jet

Jun-23

$2.20

$2.14

2.90%

$0.06

$2.44

-9.77%

$2.82

-21.99%

 

 

Chicago Ethanol

Jun-23

$2.36

$2.37

-0.42%

-$0.01

$2.41

-2.28%

$2.45

-3.84%

 

 

Rotterdam Gasoil

Jun-23

$646.78

$627.00

3.16%

$19.78

$727.10

-11.05%

$809.38

-20.09%

 

 

Singapore Jet Kero

Jun-23

$90.85

$86.36

5.21%

$4.50

$101.11

-10.14%

$110.30

-17.63%

 

 

 

 

Implied Volatilities

 

 

 

EOXLive Market Data

 

 

 

Contract

5/8/23

5/5/23

% Change

Change

4/10/23

% Change

5/6/22

% Change

 

 

Henry Hub Straddle

Jun-23

62.30%

64.26%

-3.05%

-1.96%

83.12%

-25.05%

52.00%

19.81%

 

 

Algonquin Straddle

Jun-23

144.78%

149.96%

-3.45%

-5.18%

86.31%

67.74%

61.62%

134.96%

 

 

Waha Straddle

Jun-23

204.24%

185.34%

10.20%

18.90%

261.11%

-21.78%

96.15%

112.42%

 

 

Chicago Straddle

Jun-23

66.96%

67.53%

-0.84%

-0.57%

80.81%

-17.14%

54.76%

22.28%

 

 

PJM West Straddle

Jun-23

69.00%

72.41%

-4.71%

-3.41%

79.10%

-12.77%

55.67%

23.94%

 

 

SP – 15 Straddle

Jun-23

61.10%

175.25%

-65.14%

-114.15%

213.03%

-71.32%

49.78%

22.74%

 

 

Mid. C Straddle

Jun-23

143.91%

284.06%

-49.34%

-140.15%

162.79%

-11.60%

58.84%

144.58%

 

 

 

 

Euro Gas and Power/LNG

 

 

EOXLive Market Data

 

 

 

Contract

5/8/23

5/5/23

% Change

Change

4/10/23

% Change

5/6/22

% Change

 

 

Dutch TTF

Jun-23

EUR 37.10

EUR 35.85

3.49%

EUR 1.25

EUR 43.43

-14.58%

EUR 77.47

-52.11%

 

 

NBP

Jun-23

GBP 84.55

GBP 81.84

3.31%

GBP 2.71

GBP 105.32

-19.72%

GBP 174.09

-51.43%

 

 

German Base

Jun-23

EUR 94.52

EUR 92.54

2.14%

EUR 1.98

EUR 116.79

-19.07%

EUR 198.52

-52.39%

 

 

UK Base

Jun-23

GBP 89.70

GBP 89.31

0.44%

GBP 0.40

GBP 112.53

-20.29%

GBP 180.91

-50.42%

 

 

French Base

Jun-23

EUR 94.51

EUR 92.90

1.73%

EUR 1.61

EUR 121.64

-22.30%

EUR 186.74

-49.39%

 

 

Italian Base

Jun-23

EUR 121.71

EUR 120.52

0.99%

EUR 1.19

EUR 145.23

-16.19%

EUR 207.46

-41.33%

 

 

JKM LNG

Jun-23

$11.22

$11.47

-2.21%

-$0.25

$12.59

-10.90%

$24.78

-54.72%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

Cooling Degree Days

 

 

 

 

 

 

05/06/2023

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

-1

0

9

8

8

NA

NA

 

 

E N Central

0

-3

0

4

-1

-1

NA

NA

 

 

W N Central

4

-2

4

8

-6

2

NA

NA

 

 

South Atlantic

18

-8

-30

262

57

-6

28.00%

-2.00%

 

 

E S Central

6

-10

-34

53

-18

-28

NA

NA

 

 

W S Central

42

4

-17

256

48

-26

23.00%

-9.00%

 

 

Mountain

10

-3

-4

34

-27

-26

NA

NA

 

 

Pacific

0

-6

0

1

-24

-6

NA

NA

 

 

United States

10

-3

-10

85

9

-7

NA

NA

 

 

 

 

Heating Degree Days

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

05/06/2023

Week Tot

Dev Norm

Dev L YR

Cum Tot

CumD Norm

CumD L YR

CumD Norm

CumD L YR

 

 

New England

99

6

1

5,475

-868

-302

-14.00%

-5.00%

 

 

Middle Atlantic

99

24

28

4,922

-796

-190

-14.00%

-4.00%

 

 

E N Central

106

27

23

5,679

-597

-111

-10.00%

-2.00%

 

 

W N Central

79

10

-17

6,442

-110

215

-2.00%

3.00%

 

 

South Atlantic

43

20

31

2,396

-408

14

-15.00%

1.00%

 

 

E S Central

53

25

45

3,075

-470

-37

-13.00%

-1.00%

 

 

W S Central

12

4

6

2,096

-180

158

-8.00%

8.00%

 

 

Mountain

52

-20

-18

5,327

372

770

8.00%

17.00%

 

 

Pacific

83

30

38

3,461

446

624

15.00%

22.00%

 

 

United States

70

18

21

4,079

-291

120

-7.00%

3.00%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

Weather Forecast & Seasonal Outlook

 

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