Morning Report: Gas * Power * NGL * Crude * Products * Vols — May-12-2023

May 12, 2023

  

 

 

 

 

 

 

 

 

 

Prices as of 10:52 AM CST

 

 

 

 

 

 

 

Current Price

Previous Settle

% Change

Change

Volume

 

 

Natural Gas

$2.209

$2.190

0.87%

$0.019

53,685

 

 

WTI

$70.41

$70.87

-0.65%

-$0.46

168,461

 

 

Brent

$74.54

$74.98

-0.59%

-$0.44

17,547

 

 

ULSD

$2.320

$2.350

-1.27%

-$0.030

16,853

 

 

RBOB

$2.447

$2.458

-0.43%

-$0.011

21,321

 

 

 

 

Spreads

 

 

 

 

 

 

 

Current

Previous

% Change

Change

Contract

 

 

WTI-Brent

$4.07

$4.10

-0.73%

-$0.03

Jul-23

 

 

3:2:1 Crack

$28.98

$29.38

-1.38%

-$0.41

Jun-23

 

 

PJM West Spark

$34.58

$35.10

-1.49%

-$0.52

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

 

 

 

 

05/11/18

 

 

 

5/5/23

4/28/23

Net Change

% Change

5/6/22

% Change

5 Year Avg.

% Change

 

 

East

422

410

12

2.93%

274

54.01%

336

25.74%

 

 

Midwest

497

481

16

3.33%

342

45.32%

391

26.98%

 

 

Mountain

104

95

9

9.47%

96

8.33%

105

-0.76%

 

 

Pacific

114

100

14

14.00%

183

-37.70%

207

-44.98%

 

 

South

1,002

977

25

2.56%

749

33.78%

818

22.49%

 

 

    Salt

287

278

9

3.24%

241

19.09%

261

9.88%

 

 

    Non_Salt

715

699

16

2.29%

507

41.03%

556

28.50%

 

 

Total

2,141

2,063

78

3.78%

1,643

30.31%

1,857

15.29%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Power Generation Additions/Retirements

 

 

  

 

Front Month Prices

 

 

 

 

 

 

 

 

 

 

 

 

 

Electricity

 

 

 

EOXLive Market Data

 

 

 

Contract

5/11/23

5/10/23

% Change

Change

4/13/23

% Change

5/11/22

% Change

 

 

PJM West On Peak

Jun-23

$39.29

$39.79

-1.25%

-$0.50

$41.62

-5.59%

$64.88

-39.44%

 

 

ERCOT North On Peak

Jun-23

$43.43

$41.39

4.92%

$2.04

$40.26

7.86%

$65.86

-34.06%

 

 

CAISO SP 15 On Peak

Jun-23

$48.16

$48.52

-0.74%

-$0.36

$51.80

-7.03%

$61.83

-22.11%

 

 

MISO Indiana On Peak

Jun-23

$42.43

$41.98

1.07%

$0.45

$45.10

-5.92%

$66.77

-36.46%

 

 

NEISO Mass On Peak

Jun-23

$43.66

$42.76

2.12%

$0.91

$40.18

8.66%

$57.10

-23.53%

 

 

WECC Mid C On Peak

Jun-23

$64.45

$64.32

0.20%

$0.13

$61.51

4.78%

$49.34

30.63%

 

 

NYISO Zone G On Peak

Jun-23

$40.02

$40.36

-0.85%

-$0.34

$37.26

7.39%

$55.81

-28.30%

 

 

 

 

 

Natural Gas & Basis

 

 

 

EOXLive Market Data

 

 

 

Contract

5/11/23

5/10/23

% Change

Change

4/13/23

% Change

5/11/22

% Change

 

 

NYMEX Henry Hub

Jun-23

$2.190

$2.191

-0.05%

$0.00

$2.20

-0.32%

$4.59

-52.30%

 

 

Houston Ship Channel

Jun-23

-$0.246

-$0.235

4.46%

-$0.01

-$0.26

-5.20%

-$0.17

40.76%

 

 

Chicago

Jun-23

-$0.261

-$0.230

-11.62%

-$0.03

-$0.15

76.51%

-$0.27

-5.06%

 

 

Waha

Jun-23

-$1.221

-$1.257

-2.83%

$0.04

-$1.37

-11.17%

-$2.12

-42.27%

 

 

Algonquin

Jun-23

$0.786

$0.978

-19.55%

-$0.19

-$0.12

-753.70%

-$0.72

-208.71%

 

 

Aeco

Jun-23

-$0.873

-$0.852

2.57%

-$0.02

-$0.78

12.19%

-$1.17

-25.42%

 

 

Socal

Jun-23

$0.029

$0.211

-86.38%

-$0.18

$1.20

-97.59%

-$0.38

-107.58%

 

 

 

 

 

Natural Gas Liquids

 

 

 

EOXLive Market Data

 

 

 

Contract

5/11/23

5/10/23

% Change

Change

4/13/23

% Change

5/11/22

% Change

 

 

Mt. Belvieu Propane LST

Jun-23

$0.671

$0.685

-2.02%

-$0.01

$0.84

-20.33%

$1.03

-34.66%

 

 

Mt. Belvieu Propane non LST

Jun-23

$0.669

$0.683

-2.03%

-$0.01

$0.84

-20.47%

$1.05

-36.10%

 

 

Mt. Belview Ethane

Jun-23

$0.193

$0.194

-0.22%

$0.00

$0.19

-0.03%

$0.36

-46.99%

 

 

Mt. Belview Nat. Gasoline

Jun-23

$1.427

$1.464

-2.53%

-$0.04

$1.63

-12.32%

$1.84

-22.58%

 

 

Mt. Belvieu Butane LST

Jun-23

$0.728

$0.751

-3.00%

-$0.02

$0.97

-24.65%

$1.15

-36.63%

 

 

Conway Propane

Jun-23

$0.667

$0.673

-0.87%

-$0.01

$0.83

-19.55%

$1.02

-34.79%

 

 

Conway Nat. Gasoline

Jun-23

$1.458

$1.497

-2.59%

-$0.04

$1.64

-10.81%

$1.81

-19.52%

 

 

 

 

Crude Oil

 

 

 

EOXLive Market Data

 

 

 

Contract

5/11/23

5/10/23

% Change

Change

4/13/23

% Change

5/11/22

% Change

 

 

WTI

Jul-23

$70.88

$72.52

-2.31%

-$1.64

$81.68

-13.22%

$87.74

-19.22%

 

 

Brent

Jul-23

$74.98

$76.41

-1.91%

-$1.43

$85.68

-12.49%

$92.81

-19.21%

 

 

WCS

Jul-23

-$13.65

-$13.25

2.90%

-$0.40

-$14.33

-4.76%

-$14.98

-8.92%

 

 

LLS

Jul-23

$72.84

$74.34

-2.06%

-$1.50

$82.72

-11.95%

$88.29

-17.50%

 

 

Mars

Jul-23

$69.83

$71.03

-1.71%

-$1.19

$79.49

-12.16%

$85.18

-18.02%

 

 

Sour

Jul-23

$70.51

$71.63

-1.59%

-$1.12

$80.32

-12.22%

$86.67

-18.65%

 

 

ESPO

Jul-23

$73.71

$75.04

-1.81%

-$1.33

$83.84

-12.08%

$89.74

-17.87%

 

 

 

 

Refined Products

 

 

 

EOXLive Market Data

 

 

 

Contract

5/11/23

5/10/23

% Change

Change

4/13/23

% Change

5/11/22

% Change

 

 

NY Heating Oil

Jun-23

$2.36

$2.39

-1.42%

-$0.03

$2.63

-10.55%

$3.18

-25.90%

 

 

NY Gasoline

Jun-23

$2.45

$2.49

-1.48%

-$0.04

$2.78

-11.75%

$2.83

-13.22%

 

 

GC Gasoline

Jun-23

$2.36

$2.39

-1.55%

-$0.04

$2.68

-12.19%

$2.73

-13.70%

 

 

GC Jet

Jun-23

$2.20

$2.21

-0.54%

-$0.01

$2.35

-6.50%

$2.67

-17.63%

 

 

Chicago Ethanol

Jun-23

$2.35

$2.36

-0.42%

-$0.01

$2.40

-2.37%

$2.46

-4.67%

 

 

Rotterdam Gasoil

Jun-23

$639.12

$650.26

-1.71%

-$11.14

$728.00

-12.21%

$867.58

-26.33%

 

 

Singapore Jet Kero

Jun-23

$90.82

$91.68

-0.94%

-$0.86

$100.21

-9.37%

$113.39

-19.90%

 

 

 

 

Implied Volatilities

 

 

 

EOXLive Market Data

 

 

 

Contract

5/11/23

5/10/23

% Change

Change

4/13/23

% Change

5/11/22

% Change

 

 

Henry Hub Straddle

Jun-23

63.35%

66.26%

-4.39%

-2.91%

91.68%

-30.90%

50.34%

25.84%

 

 

Algonquin Straddle

Jun-23

138.75%

144.30%

-3.85%

-5.55%

98.58%

40.75%

62.05%

123.61%

 

 

Waha Straddle

Jun-23

139.44%

171.29%

-18.59%

-31.85%

263.00%

-46.98%

102.48%

36.07%

 

 

Chicago Straddle

Jun-23

65.23%

72.05%

-9.47%

-6.82%

94.76%

-31.16%

53.86%

21.11%

 

 

PJM West Straddle

Jun-23

77.41%

74.39%

4.06%

3.02%

78.47%

-1.35%

53.55%

44.56%

 

 

SP – 15 Straddle

Jun-23

199.02%

169.15%

17.66%

29.87%

199.49%

-0.24%

56.60%

251.63%

 

 

Mid. C Straddle

Jun-23

347.26%

341.57%

1.67%

5.69%

185.15%

87.56%

65.12%

433.26%

 

 

 

 

Euro Gas and Power/LNG

 

 

EOXLive Market Data

 

 

 

Contract

5/11/23

5/10/23

% Change

Change

4/13/23

% Change

5/11/22

% Change

 

 

Dutch TTF

Jun-23

EUR 34.81

EUR 34.90

-0.27%

-EUR 0.10

EUR 42.40

-17.91%

EUR 74.36

-53.19%

 

 

NBP

Jun-23

GBP 80.45

GBP 80.30

0.19%

GBP 0.15

GBP 102.16

-21.25%

GBP 161.91

-50.31%

 

 

German Base

Jun-23

EUR 94.05

EUR 97.15

-3.20%

-EUR 3.10

EUR 114.25

-17.68%

EUR 186.22

-49.49%

 

 

UK Base

Jun-23

GBP 89.18

GBP 91.88

-2.94%

-GBP 2.70

GBP 110.11

-19.01%

GBP 161.16

-44.67%

 

 

French Base

Jun-23

EUR 93.19

EUR 98.08

-4.99%

-EUR 4.89

EUR 119.97

-22.32%

EUR 170.24

-45.26%

 

 

Italian Base

Jun-23

EUR 117.00

EUR 116.70

0.25%

EUR 0.30

EUR 144.49

-19.02%

EUR 179.14

-34.69%

 

 

JKM LNG

Jun-23

$10.93

$10.88

0.39%

$0.04

$12.40

-11.87%

$21.95

-50.23%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

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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