Morning Report: Gas * Power * NGL * Crude * Products * Vols — May-10-2023

May 10, 2023

  

 

 

 

 

 

 

 

 

 

Prices as of 9:24 AM CST

 

 

 

 

 

 

 

Current Price

Previous Settle

% Change

Change

Volume

 

 

Natural Gas

$2.191

$2.267

-3.35%

-$0.076

43,819

 

 

WTI

$72.57

$73.71

-1.55%

-$1.14

155,600

 

 

Brent

$76.30

$77.44

-1.47%

-$1.14

13,958

 

 

ULSD

$2.379

$2.390

-0.49%

-$0.012

13,019

 

 

RBOB

$2.463

$2.480

-0.68%

-$0.017

12,589

 

 

 

 

Spreads

 

 

 

 

 

 

 

Current

Previous

% Change

Change

Contract

 

 

WTI-Brent

$3.74

$3.82

-2.09%

-$0.08

Jul-23

 

 

3:2:1 Crack

$28.58

$28.16

1.48%

$0.42

Jun-23

 

 

PJM West Spark

$35.05

$34.89

0.45%

$0.16

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

5/9/23

5/8/23

% Change

Change

4/11/23

% Change

5/9/22

% Change

 

 

PJM West On Peak

Jun-23

$39.73

$39.74

-0.03%

-$0.01

$43.31

-8.27%

$66.75

-40.48%

 

 

ERCOT North On Peak

Jun-23

$43.02

$46.06

-6.59%

-$3.04

$44.59

-3.51%

$63.13

-31.85%

 

 

CAISO SP 15 On Peak

Jun-23

$49.70

$49.96

-0.52%

-$0.26

$50.34

-1.27%

$63.21

-21.37%

 

 

MISO Indiana On Peak

Jun-23

$42.99

$42.82

0.39%

$0.17

$47.15

-8.83%

$68.01

-36.79%

 

 

NEISO Mass On Peak

Jun-23

$48.70

$46.59

4.52%

$2.11

$39.21

24.22%

$60.23

-19.14%

 

 

WECC Mid C On Peak

Jun-23

$63.95

$60.96

4.91%

$2.99

$64.25

-0.47%

$49.62

28.87%

 

 

NYISO Zone G On Peak

Jun-23

$41.67

$42.85

-2.76%

-$1.18

$40.55

2.75%

$61.81

-32.59%

 

 

 

 

 

Natural Gas & Basis

 

 

 

EOXLive Market Data

 

 

 

Contract

5/9/23

5/8/23

% Change

Change

4/11/23

% Change

5/9/22

% Change

 

 

NYMEX Henry Hub

Jun-23

$2.267

$2.238

1.30%

$0.03

$2.35

-3.57%

$4.45

-49.11%

 

 

Houston Ship Channel

Jun-23

-$0.246

-$0.225

9.32%

-$0.02

-$0.22

9.47%

-$0.18

33.50%

 

 

Chicago

Jun-23

-$0.220

-$0.235

7.24%

$0.02

-$0.07

202.34%

-$0.29

-25.06%

 

 

Waha

Jun-23

-$1.262

-$1.259

-0.26%

$0.00

-$1.56

-19.01%

-$2.13

-40.63%

 

 

Algonquin

Jun-23

$1.137

$1.189

-4.35%

-$0.05

-$0.07

-1724.29%

-$0.77

-248.32%

 

 

Aeco

Jun-23

-$0.827

-$0.843

-1.87%

$0.02

-$0.66

24.43%

-$1.15

-27.99%

 

 

Socal

Jun-23

$0.005

$0.226

-97.65%

-$0.22

$0.93

-99.43%

-$0.39

-101.37%

 

 

 

 

 

Natural Gas Liquids

 

 

 

EOXLive Market Data

 

 

 

Contract

5/9/23

5/8/23

% Change

Change

4/11/23

% Change

5/9/22

% Change

 

 

Mt. Belvieu Propane LST

Jun-23

$0.703

$0.705

-0.35%

$0.00

$0.82

-14.72%

$1.01

-30.41%

 

 

Mt. Belvieu Propane non LST

Jun-23

$0.693

$0.702

-1.40%

-$0.01

$0.82

-16.05%

$1.01

-31.44%

 

 

Mt. Belview Ethane

Jun-23

$0.196

$0.197

-0.22%

$0.00

$0.21

-6.98%

$0.35

-44.43%

 

 

Mt. Belview Nat. Gasoline

Jun-23

$1.414

$1.409

0.33%

$0.00

$1.59

-11.10%

$1.90

-25.42%

 

 

Mt. Belvieu Butane LST

Jun-23

$0.748

$0.758

-1.33%

-$0.01

$0.96

-21.83%

$1.13

-33.90%

 

 

Conway Propane

Jun-23

$0.686

$0.701

-2.18%

-$0.02

$0.80

-14.27%

$0.98

-30.16%

 

 

Conway Nat. Gasoline

Jun-23

$1.421

$1.457

-2.49%

-$0.04

$1.61

-11.49%

$1.95

-27.01%

 

 

 

 

Crude Oil

 

 

 

EOXLive Market Data

 

 

 

Contract

5/9/23

5/8/23

% Change

Change

4/11/23

% Change

5/9/22

% Change

 

 

WTI

Jun-23

$73.71

$73.16

0.75%

$0.55

$81.49

-9.55%

$86.28

-14.57%

 

 

Brent

Jun-23

$77.56

$77.14

0.54%

$0.42

$85.61

-9.41%

$91.48

-15.22%

 

 

WCS

Jun-23

-$13.98

-$14.54

-3.96%

$0.55

-$15.42

-9.30%

-$13.16

6.28%

 

 

LLS

Jun-23

$75.65

$75.04

0.80%

$0.61

$82.94

-8.79%

$86.50

-12.54%

 

 

Mars

Jun-23

$71.15

$70.50

0.92%

$0.65

$79.40

-10.39%

$83.78

-15.08%

 

 

Sour

Jun-23

$73.36

$72.46

1.23%

$0.90

$79.93

-8.22%

$83.05

-11.67%

 

 

ESPO

Jun-23

$76.75

$76.26

0.63%

$0.48

$84.31

-8.97%

$84.97

-9.68%

 

 

 

 

Refined Products

 

 

 

EOXLive Market Data

 

 

 

Contract

5/9/23

5/8/23

% Change

Change

4/11/23

% Change

5/9/22

% Change

 

 

NY Heating Oil

Jun-23

$2.39

$2.38

0.46%

$0.01

$2.62

-8.88%

$2.90

-17.44%

 

 

NY Gasoline

Jun-23

$2.48

$2.47

0.57%

$0.01

$2.79

-11.17%

$2.87

-13.65%

 

 

GC Gasoline

Jun-23

$2.38

$2.37

0.59%

$0.01

$2.69

-11.59%

$2.77

-14.14%

 

 

GC Jet

Jun-23

$2.24

$2.20

1.91%

$0.04

$2.40

-6.55%

$2.81

-20.16%

 

 

Chicago Ethanol

Jun-23

$2.33

$2.36

-1.06%

-$0.03

$2.40

-3.00%

$2.43

-4.12%

 

 

Rotterdam Gasoil

Jun-23

$635.05

$646.78

-1.81%

-$11.73

$716.91

-11.42%

$786.85

-19.29%

 

 

Singapore Jet Kero

Jun-23

$90.86

$90.85

0.01%

$0.01

$98.75

-7.99%

$111.60

-18.58%

 

 

 

 

Implied Volatilities

 

 

 

EOXLive Market Data

 

 

 

Contract

5/9/23

5/8/23

% Change

Change

4/11/23

% Change

5/9/22

% Change

 

 

Henry Hub Straddle

Jun-23

64.09%

62.30%

2.87%

1.79%

88.82%

-27.84%

53.25%

20.36%

 

 

Algonquin Straddle

Jun-23

142.16%

144.78%

-1.81%

-2.62%

94.03%

51.19%

64.59%

120.10%

 

 

Waha Straddle

Jun-23

143.73%

204.24%

-29.63%

-60.51%

270.06%

-46.78%

105.80%

35.85%

 

 

Chicago Straddle

Jun-23

69.07%

66.96%

3.15%

2.11%

88.77%

-22.19%

56.94%

21.30%

 

 

PJM West Straddle

Jun-23

72.72%

69.00%

5.39%

3.72%

76.43%

-4.85%

55.23%

31.67%

 

 

SP – 15 Straddle

Jun-23

66.31%

61.10%

8.53%

5.21%

178.04%

-62.76%

55.71%

19.03%

 

 

Mid. C Straddle

Jun-23

158.86%

143.91%

10.39%

14.95%

183.82%

-13.58%

65.00%

144.40%

 

 

 

 

Euro Gas and Power/LNG

 

 

EOXLive Market Data

 

 

 

Contract

5/9/23

5/8/23

% Change

Change

4/11/23

% Change

5/9/22

% Change

 

 

Dutch TTF

Jun-23

EUR 36.10

EUR 37.10

-2.70%

-EUR 1.00

EUR 44.20

-18.33%

EUR 73.72

-51.03%

 

 

NBP

Jun-23

GBP 82.70

GBP 84.55

-2.19%

-GBP 1.85

GBP 106.50

-22.35%

GBP 164.54

-49.74%

 

 

German Base

Jun-23

EUR 93.50

EUR 94.52

-1.08%

-EUR 1.02

EUR 117.00

-20.09%

EUR 186.16

-49.78%

 

 

UK Base

Jun-23

GBP 87.53

GBP 89.70

-2.42%

-GBP 2.18

GBP 113.80

-23.08%

GBP 170.67

-48.71%

 

 

French Base

Jun-23

EUR 97.00

EUR 94.51

2.63%

EUR 2.49

EUR 124.56

-22.13%

EUR 170.52

-43.12%

 

 

Italian Base

Jun-23

EUR 119.92

EUR 121.71

-1.47%

-EUR 1.79

EUR 147.80

-18.86%

EUR 182.62

-34.33%

 

 

JKM LNG

Jun-23

$11.04

$11.22

-1.64%

-$0.18

$13.28

-16.89%

$22.81

-51.62%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

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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