Morning Report: Gas * Power * NGL * Crude * Products * Vols — May-16-2023

May 16, 2023

  

 

 

 

 

 

 

 

 

 

Prices as of 8:39 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

$36.26

$35.02

3.54%

$1.24

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 5/9/2023

Open Interest

Total Net Long

Total Net Short

Diff

 

 

PJM West On Peak

103,054

102,621

102,450

171

 

 

PJM West Off Peak

87,576

86,998

87,176

-178

 

 

Natural Gas Henry Hub

445,803

417,715

432,529

-14,814

 

 

WTI – Light Sweet Crude Futures

268,661

200,113

193,636

6,477

 

 

Brent Crude Last Day

136,024

126,317

129,040

-2,723

 

 

NYM Ethanol

32,835

32,384

32,397

-13

 

 

Mt Belvieu LDH Propane Swap

142,237

141,084

141,818

-734

 

 

RBOB

314,543

293,397

296,410

-3,013

 

 

HSC Basis

543,292

539,600

534,139

5,461

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

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

5/15/23

5/12/23

% Change

Change

4/17/23

% Change

5/13/22

% Change

 

 

PJM West On Peak

Jun-23

$40.98

$39.71

3.20%

$1.27

$43.47

-5.73%

$66.01

-37.92%

 

 

ERCOT North On Peak

Jun-23

$50.49

$45.71

10.46%

$4.78

$45.07

12.01%

$66.47

-24.04%

 

 

CAISO SP 15 On Peak

Jun-23

$48.82

$50.91

-4.10%

-$2.09

$54.71

-10.77%

$61.63

-20.79%

 

 

MISO Indiana On Peak

Jun-23

$44.76

$42.90

4.34%

$1.86

$48.43

-7.58%

$68.24

-34.41%

 

 

NEISO Mass On Peak

Jun-23

$43.09

$45.44

-5.19%

-$2.36

$52.79

-18.39%

$51.40

-16.18%

 

 

WECC Mid C On Peak

Jun-23

$66.43

$65.52

1.39%

$0.91

$63.81

4.10%

$48.02

38.34%

 

 

NYISO Zone G On Peak

Jun-23

$40.35

$39.66

1.75%

$0.69

$53.71

-24.87%

$56.94

-29.13%

 

 

 

 

 

Natural Gas & Basis

 

 

 

EOXLive Market Data

 

 

 

Contract

5/15/23

5/12/23

% Change

Change

4/17/23

% Change

5/13/22

% Change

 

 

NYMEX Henry Hub

Jun-23

$2.375

$2.266

4.81%

$0.11

$2.44

-2.82%

$4.60

-48.41%

 

 

Houston Ship Channel

Jun-23

-$0.248

-$0.241

3.04%

-$0.01

-$0.29

-13.87%

-$0.17

45.42%

 

 

Chicago

Jun-23

-$0.269

-$0.232

-13.88%

-$0.04

-$0.13

110.05%

-$0.27

-0.48%

 

 

Waha

Jun-23

-$1.224

-$1.224

0.00%

$0.00

-$1.38

-11.16%

-$2.08

-41.27%

 

 

Algonquin

Jun-23

$0.667

$0.640

4.24%

$0.03

$0.54

23.73%

-$0.74

-189.63%

 

 

Aeco

Jun-23

-$0.927

-$0.738

25.56%

-$0.19

-$0.70

32.58%

-$1.26

-26.25%

 

 

Socal

Jun-23

$0.235

$0.139

69.09%

$0.10

$0.99

-76.38%

-$0.32

-173.41%

 

 

 

 

 

Natural Gas Liquids

 

 

 

EOXLive Market Data

 

 

 

Contract

5/15/23

5/12/23

% Change

Change

4/17/23

% Change

5/13/22

% Change

 

 

Mt. Belvieu Propane LST

Jun-23

$0.640

$0.642

-0.38%

$0.00

$0.82

-22.08%

$1.04

-38.21%

 

 

Mt. Belvieu Propane non LST

Jun-23

$0.639

$0.639

0.00%

$0.00

$0.83

-22.81%

$1.02

-37.18%

 

 

Mt. Belview Ethane

Jun-23

$0.200

$0.196

1.90%

$0.00

$0.20

-1.20%

$0.37

-46.17%

 

 

Mt. Belview Nat. Gasoline

Jun-23

$1.380

$1.370

0.76%

$0.01

$1.59

-13.29%

$1.91

-27.90%

 

 

Mt. Belvieu Butane LST

Jun-23

$0.699

$0.705

-0.80%

-$0.01

$0.94

-25.98%

$1.17

-40.03%

 

 

Conway Propane

Jun-23

$0.635

$0.640

-0.78%

$0.00

$0.82

-22.69%

$1.03

-38.06%

 

 

Conway Nat. Gasoline

Jun-23

$1.412

$1.419

-0.49%

-$0.01

$1.60

-11.98%

$1.90

-25.83%

 

 

 

 

Crude Oil

 

 

 

EOXLive Market Data

 

 

 

Contract

5/15/23

5/12/23

% Change

Change

4/17/23

% Change

5/13/22

% Change

 

 

WTI

Jul-23

$71.09

$70.02

1.51%

$1.07

$80.56

-11.76%

$89.03

-20.15%

 

 

Brent

Jul-23

$75.23

$74.98

0.33%

$0.25

$84.45

-10.92%

$93.96

-19.93%

 

 

WCS

Jul-23

-$13.20

-$13.31

-0.81%

$0.11

-$14.55

-9.27%

-$13.35

-1.12%

 

 

LLS

Jul-23

$71.62

$72.27

-0.91%

-$0.65

$82.11

-12.77%

$90.15

-20.55%

 

 

Mars

Jul-23

$68.04

$68.46

-0.63%

-$0.43

$78.97

-13.85%

$86.94

-21.74%

 

 

Sour

Jul-23

$69.08

$68.74

0.50%

$0.34

$79.79

-13.42%

$87.91

-21.41%

 

 

ESPO

Jul-23

$72.61

$73.13

-0.72%

-$0.52

$83.20

-12.73%

$90.18

-19.48%

 

 

 

 

Refined Products

 

 

 

EOXLive Market Data

 

 

 

Contract

5/15/23

5/12/23

% Change

Change

4/17/23

% Change

5/13/22

% Change

 

 

NY Heating Oil

Jun-23

$2.32

$2.30

0.61%

$0.01

$2.59

-10.64%

$3.03

-23.57%

 

 

NY Gasoline

Jun-23

$2.44

$2.43

0.29%

$0.01

$2.73

-10.87%

$2.85

-14.41%

 

 

GC Gasoline

Jun-23

$2.34

$2.33

0.30%

$0.01

$2.63

-11.28%

$2.75

-14.93%

 

 

GC Jet

Jun-23

$2.19

$2.12

3.02%

$0.06

$2.29

-4.54%

$2.95

-25.90%

 

 

Chicago Ethanol

Jun-23

$2.41

$2.37

1.82%

$0.04

$2.41

-0.08%

$2.44

-1.35%

 

 

Rotterdam Gasoil

Jun-23

$635.52

$629.03

1.03%

$6.49

$715.97

-11.24%

$819.42

-22.44%

 

 

Singapore Jet Kero

Jun-23

$91.01

$87.63

3.86%

$3.38

$98.64

-7.74%

$115.67

-21.32%

 

 

 

 

Implied Volatilities

 

 

 

EOXLive Market Data

 

 

 

Contract

5/15/23

5/12/23

% Change

Change

4/17/23

% Change

5/13/22

% Change

 

 

Henry Hub Straddle

Jun-23

59.83%

57.69%

3.71%

2.14%

75.59%

-20.85%

50.97%

17.38%

 

 

Algonquin Straddle

Jun-23

131.89%

129.46%

1.88%

2.43%

151.70%

-13.06%

62.23%

111.94%

 

 

Waha Straddle

Jun-23

133.10%

125.73%

5.86%

7.37%

255.89%

-47.99%

96.25%

38.29%

 

 

Chicago Straddle

Jun-23

70.49%

65.43%

7.73%

5.06%

80.59%

-12.53%

54.57%

29.17%

 

 

PJM West Straddle

Jun-23

76.98%

73.85%

4.24%

3.13%

78.08%

-1.41%

56.71%

35.74%

 

 

SP – 15 Straddle

Jun-23

224.14%

215.41%

4.05%

8.73%

236.97%

-5.41%

55.89%

301.04%

 

 

Mid. C Straddle

Jun-23

371.68%

357.11%

4.08%

14.57%

188.85%

96.81%

68.92%

439.29%

 

 

 

 

Euro Gas and Power/LNG

 

 

EOXLive Market Data

 

 

 

Contract

5/15/23

5/12/23

% Change

Change

4/17/23

% Change

5/13/22

% Change

 

 

Dutch TTF

Jun-23

EUR 32.62

EUR 32.97

-1.08%

-EUR 0.35

EUR 41.50

-21.41%

EUR 71.86

-54.62%

 

 

NBP

Jun-23

GBP 74.61

GBP 76.25

-2.15%

-GBP 1.64

GBP 100.45

-25.72%

GBP 160.75

-53.59%

 

 

German Base

Jun-23

EUR 91.15

EUR 89.01

2.41%

EUR 2.14

EUR 108.30

-15.84%

EUR 188.55

-51.66%

 

 

UK Base

Jun-23

GBP 75.58

GBP 84.20

-10.24%

-GBP 8.62

GBP 110.09

-31.35%

GBP 169.10

-55.31%

 

 

French Base

Jun-23

EUR 89.69

EUR 95.67

-6.25%

-EUR 5.98

EUR 114.29

-21.52%

EUR 177.76

-49.54%

 

 

Italian Base

Jun-23

EUR 101.03

EUR 110.75

-8.78%

-EUR 9.73

EUR 139.86

-27.77%

EUR 179.05

-43.58%

 

 

JKM LNG

Jun-23

$11.09

$11.15

-0.46%

-$0.05

$12.55

-11.58%

$19.58

-43.34%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

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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