Morning Report: Gas * Power * NGL * Crude * Products * Vols — May-22-2023

May 22, 2023

  

 

 

 

 

 

 

 

 

 

Prices as of 10:05 AM CST

 

 

 

 

 

 

 

Current Price

Previous Settle

% Change

Change

Volume

 

 

Natural Gas

$2.394

$2.585

-7.39%

-$0.191

55,937

 

 

WTI

$71.55

$71.55

0.00%

$0.00

3,116

 

 

Brent

$75.63

$75.58

0.07%

$0.05

12,717

 

 

ULSD

$2.361

$2.362

-0.06%

-$0.002

6,128

 

 

RBOB

$2.618

$2.576

1.63%

$0.042

12,176

 

 

 

 

Spreads

 

 

 

 

 

 

 

Current

Previous

% Change

Change

Contract

 

 

WTI-Brent

$3.91

$3.89

0.51%

$0.02

Jul-23

 

 

3:2:1 Crack

$31.64

$31.18

1.48%

$0.46

Jun-23

 

 

PJM West Spark

$37.40

$36.72

1.86%

$0.68

Jun-23

 

 

 

 

Baker Hughes Rig Count

 

 

 

 

 

 

 

Date

Count

Change

1 Year Chg.

1 Year Date

 

 

U.S.

05/19/23

720

-11

-8

05/20/22

 

 

Canada

05/19/23

85

-9

-3

05/20/22

 

 

International

Apr

947

17

141

Apr

 

 

 

 

CFTC Net Positions

 

 

 

 

 

 

As of 5/16/2023

Open Interest

Total Net Long

Total Net Short

Diff

 

 

PJM West On Peak

104,099

103,713

103,848

-135

 

 

PJM West Off Peak

88,593

87,882

88,141

-259

 

 

Natural Gas Henry Hub

452,029

423,773

438,801

-15,028

 

 

WTI – Light Sweet Crude Futures

127,977

95,526

92,624

2,902

 

 

Brent Crude Last Day

142,564

133,882

135,988

-2,106

 

 

NYM Ethanol

35,049

34,616

34,615

1

 

 

Mt Belvieu LDH Propane Swap

146,547

145,395

146,197

-802

 

 

RBOB

306,848

285,236

289,860

-4,624

 

 

HSC Basis

553,444

548,873

544,297

4,576

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

EIA Lower 48 Natural Gas Storage

 

 

 

 

05/18/18

 

 

 

5/12/23

5/5/23

Net Change

% Change

5/13/22

% Change

5 Year Avg.

% Change

 

 

East

458

422

36

8.53%

296

54.73%

355

29.01%

 

 

Midwest

520

497

23

4.63%

364

42.86%

413

25.97%

 

 

Mountain

112

104

8

7.69%

103

8.74%

112

0.36%

 

 

Pacific

127

114

13

11.40%

187

-32.09%

217

-41.53%

 

 

South

1,023

1,002

21

2.10%

781

30.99%

847

20.81%

 

 

    Salt

290

287

3

1.05%

251

15.54%

270

7.33%

 

 

    Non_Salt

734

715

19

2.66%

531

38.23%

577

27.21%

 

 

Total

2,240

2,141

99

4.62%

1,732

29.33%

1,943

15.26%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Power Generation Additions/Retirements

 

 

  

 

Front Month Prices

 

 

 

 

 

 

 

 

 

 

 

 

 

Electricity

 

 

 

EOXLive Market Data

 

 

 

Contract

5/19/23

5/18/23

% Change

Change

4/21/23

% Change

5/19/22

% Change

 

 

PJM West On Peak

Jun-23

$42.53

$42.25

0.65%

$0.27

$40.23

5.70%

$66.60

-36.15%

 

 

ERCOT North On Peak

Jun-23

$44.93

$46.07

-2.49%

-$1.15

$43.66

2.91%

$68.14

-34.07%

 

 

CAISO SP 15 On Peak

Jun-23

$45.94

$46.76

-1.76%

-$0.82

$52.07

-11.78%

$65.20

-29.55%

 

 

MISO Indiana On Peak

Jun-23

$46.10

$46.33

-0.50%

-$0.23

$44.70

3.13%

$68.80

-32.99%

 

 

NEISO Mass On Peak

Jun-23

$47.01

$46.25

1.65%

$0.76

$54.68

-14.03%

$57.64

-18.44%

 

 

WECC Mid C On Peak

Jun-23

$64.51

$66.18

-2.53%

-$1.67

$56.35

14.48%

$51.51

25.23%

 

 

NYISO Zone G On Peak

Jun-23

$42.24

$40.80

3.54%

$1.44

$47.47

-11.02%

$56.94

-25.81%

 

 

 

 

 

Natural Gas & Basis

 

 

 

EOXLive Market Data

 

 

 

Contract

5/19/23

5/18/23

% Change

Change

4/21/23

% Change

5/19/22

% Change

 

 

NYMEX Henry Hub

Jun-23

$2.585

$2.592

-0.27%

-$0.01

$2.41

7.35%

$4.82

-46.32%

 

 

Houston Ship Channel

Jun-23

-$0.188

-$0.217

-13.55%

$0.03

-$0.27

-30.26%

-$0.17

10.94%

 

 

Chicago

Jun-23

-$0.165

-$0.157

-4.55%

-$0.01

-$0.15

10.38%

-$0.28

-40.35%

 

 

Waha

Jun-23

-$1.084

-$1.227

-11.69%

$0.14

-$1.40

-22.38%

-$1.91

-43.31%

 

 

Algonquin

Jun-23

$0.581

$0.617

-5.88%

-$0.04

$0.90

-35.79%

-$0.73

-179.97%

 

 

Aeco

Jun-23

-$0.864

-$0.793

8.90%

-$0.07

-$0.77

12.81%

-$1.29

-32.95%

 

 

Socal

Jun-23

$0.420

$0.414

1.42%

$0.01

$0.66

-36.15%

-$0.31

-235.95%

 

 

 

 

 

Natural Gas Liquids

 

 

 

EOXLive Market Data

 

 

 

Contract

5/19/23

5/18/23

% Change

Change

4/21/23

% Change

5/19/22

% Change

 

 

Mt. Belvieu Propane LST

Jun-23

$0.634

$0.637

-0.58%

$0.00

$0.81

-21.28%

$1.04

-38.94%

 

 

Mt. Belvieu Propane non LST

Jun-23

$0.639

$0.636

0.40%

$0.00

$0.81

-20.75%

$0.95

-33.09%

 

 

Mt. Belview Ethane

Jun-23

$0.213

$0.204

4.13%

$0.01

$0.21

0.89%

$0.39

-45.98%

 

 

Mt. Belview Nat. Gasoline

Jun-23

$1.412

$1.431

-1.35%

-$0.02

$1.53

-7.91%

$1.84

-23.34%

 

 

Mt. Belvieu Butane LST

Jun-23

$0.718

$0.720

-0.40%

$0.00

$0.92

-21.90%

$1.16

-38.20%

 

 

Conway Propane

Jun-23

$0.639

$0.635

0.60%

$0.00

$0.80

-19.71%

$1.02

-37.51%

 

 

Conway Nat. Gasoline

Jun-23

$1.458

$1.482

-1.64%

-$0.02

$1.55

-5.81%

$1.78

-18.21%

 

 

 

 

Crude Oil

 

 

 

EOXLive Market Data

 

 

 

Contract

5/19/23

5/18/23

% Change

Change

4/21/23

% Change

5/19/22

% Change

 

 

WTI

Jul-23

$71.69

$71.94

-0.35%

-$0.25

$77.71

-7.75%

$87.96

-18.50%

 

 

Brent

Jul-23

$75.58

$75.86

-0.37%

-$0.28

$81.46

-7.22%

$92.99

-18.72%

 

 

WCS

Jul-23

-$12.85

-$12.27

4.52%

-$0.58

-$14.05

-8.52%

-$13.85

-7.23%

 

 

LLS

Jul-23

$73.74

$73.69

0.07%

$0.05

$78.98

-6.64%

$85.63

-13.88%

 

 

Mars

Jul-23

$70.25

$70.44

-0.27%

-$0.19

$75.37

-6.80%

$81.18

-13.47%

 

 

Sour

Jul-23

$70.69

$71.17

-0.67%

-$0.48

$76.61

-7.72%

$81.86

-13.64%

 

 

ESPO

Jul-23

$74.70

$74.63

0.10%

$0.07

$79.58

-6.14%

$91.56

-18.42%

 

 

 

 

Refined Products

 

 

 

EOXLive Market Data

 

 

 

Contract

5/19/23

5/18/23

% Change

Change

4/21/23

% Change

5/19/22

% Change

 

 

NY Heating Oil

Jun-23

$2.36

$2.41

-1.79%

-$0.04

$2.48

-4.72%

$2.93

-19.35%

 

 

NY Gasoline

Jun-23

$2.58

$2.57

0.31%

$0.01

$2.58

-0.15%

$2.68

-3.91%

 

 

GC Gasoline

Jun-23

$2.48

$2.47

0.32%

$0.01

$2.48

-0.16%

$2.58

-4.06%

 

 

GC Jet

Jun-23

$2.22

$2.22

-0.09%

$0.00

$2.36

-5.82%

$3.13

-29.25%

 

 

Chicago Ethanol

Jun-23

$2.37

$2.38

-0.63%

-$0.02

$2.36

0.42%

$2.46

-3.86%

 

 

Rotterdam Gasoil

Jun-23

$643.91

$648.00

-0.63%

-$4.09

$685.17

-6.02%

$796.20

-19.13%

 

 

Singapore Jet Kero

Jun-23

$90.09

$91.36

-1.39%

-$1.27

$92.92

-3.04%

$103.39

-12.86%

 

 

 

 

Implied Volatilities

 

 

 

EOXLive Market Data

 

 

 

Contract

5/19/23

5/18/23

% Change

Change

4/21/23

% Change

5/19/22

% Change

 

 

Henry Hub Straddle

Jul-23

71.81%

59.23%

21.24%

12.58%

60.95%

17.82%

52.43%

36.96%

 

 

Algonquin Straddle

Jul-23

119.80%

105.42%

13.64%

14.38%

168.36%

-28.84%

59.52%

101.28%

 

 

Waha Straddle

Jul-23

109.53%

96.04%

14.05%

13.49%

124.94%

-12.33%

92.63%

18.24%

 

 

Chicago Straddle

Jul-23

75.65%

60.82%

24.38%

14.83%

66.42%

13.90%

56.72%

33.37%

 

 

PJM West Straddle

Jul-23

80.37%

80.82%

-0.56%

-0.45%

84.38%

-4.75%

59.13%

35.92%

 

 

SP – 15 Straddle

Jul-23

150.62%

163.77%

-8.03%

-13.15%

106.50%

41.43%

60.12%

150.53%

 

 

Mid. C Straddle

Jul-23

213.56%

211.11%

1.16%

2.45%

165.71%

28.88%

90.81%

135.17%

 

 

 

 

Euro Gas and Power/LNG

 

 

EOXLive Market Data

 

 

 

Contract

5/19/23

5/18/23

% Change

Change

4/21/23

% Change

5/19/22

% Change

 

 

Dutch TTF

Jul-23

EUR 30.49

EUR 30.63

-0.47%

-EUR 0.14

EUR 41.35

-26.28%

EUR 69.08

-55.87%

 

 

NBP

Jul-23

GBP 67.32

GBP 68.38

-1.55%

-GBP 1.06

GBP 100.30

-32.88%

GBP 156.68

-57.03%

 

 

German Base

Jul-23

EUR 91.45

EUR 88.10

3.81%

EUR 3.36

EUR 110.31

-17.09%

EUR 190.80

-52.07%

 

 

UK Base

Jul-23

GBP 87.18

GBP 83.22

4.76%

GBP 3.96

GBP 104.67

-16.71%

GBP 153.52

-43.21%

 

 

French Base

Jul-23

EUR 94.72

EUR 95.70

-1.02%

-EUR 0.98

EUR 128.64

-26.36%

EUR 172.70

-45.15%

 

 

Italian Base

Jul-23

EUR 121.05

EUR 113.60

6.55%

EUR 7.44

EUR 156.44

-22.62%

EUR 188.19

-35.68%

 

 

JKM LNG

Jul-23

$11.79

$11.14

5.87%

$0.65

$11.75

0.34%

$20.08

-41.28%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

Cooling Degree Days

 

 

 

 

 

 

05/20/2023

Week Tot

Dev Norm

Dev L YR

Cum Tot

CumD Norm

CumD L YR

CumD Norm

CumD L YR

 

 

New England

0

-1

-12

5

4

-9

NA

NA

 

 

Middle Atlantic

0

-5

-8

14

6

5

NA

NA

 

 

E N Central

0

-12

-20

9

-15

-47

NA

NA

 

 

W N Central

9

-6

-16

46

9

-27

NA

NA

 

 

South Atlantic

48

7

-15

355

76

-6

27.00%

-2.00%

 

 

E S Central

52

21

-8

153

28

-27

22.00%

-15.00%

 

 

W S Central

61

3

-46

388

74

-104

24.00%

-21.00%

 

 

Mountain

27

6

-7

70

-27

-40

NA

NA

 

 

Pacific

16

9

9

19

-20

4

NA

NA

 

 

United States

24

2

-13

133

18

-26

16.00%

-16.00%

 

 

 

 

Heating Degree Days

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

05/20/2023

Week Tot

Dev Norm

Dev L YR

Cum Tot

CumD Norm

CumD L YR

CumD Norm

CumD L YR

 

 

New England

77

17

45

5,595

-884

-286

-14.00%

-5.00%

 

 

Middle Atlantic

54

8

34

5,004

-820

-181

-14.00%

-3.00%

 

 

E N Central

51

0

29

5,758

-633

-81

-10.00%

-1.00%

 

 

W N Central

38

-7

13

6,496

-156

227

-2.00%

4.00%

 

 

South Atlantic

8

-5

7

2,410

-424

1

-15.00%

0.00%

 

 

E S Central

3

-13

2

3,081

-501

-45

-14.00%

-1.00%

 

 

W S Central

2

-1

2

2,098

-186

160

-8.00%

8.00%

 

 

Mountain

31

-20

-2

5,417

350

769

7.00%

17.00%

 

 

Pacific

0

-40

-27

3,514

412

571

13.00%

19.00%

 

 

United States

26

-8

10

4,130

-318

116

-7.00%

3.00%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

Weather Forecast & Seasonal Outlook

 

Tropical Outlook

 

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