Morning Report: Gas * Power * NGL * Crude * Products * Vols — May-23-2023

May 23, 2023

  

 

 

 

 

 

 

 

 

 

Prices as of 8:32 AM CST

 

 

 

 

 

 

 

Current Price

Previous Settle

% Change

Change

Volume

 

 

Natural Gas

$2.362

$2.400

-1.58%

-$0.038

12,096

 

 

WTI

$72.83

$71.99

1.17%

$0.84

99,251

 

 

Brent

$76.68

$75.99

0.91%

$0.69

8,301

 

 

ULSD

$2.382

$2.366

0.66%

$0.015

2,646

 

 

RBOB

$2.689

$2.649

1.50%

$0.040

5,791

 

 

 

 

Spreads

 

 

 

 

 

 

 

Current

Previous

% Change

Change

Contract

 

 

WTI-Brent

$3.85

$3.94

-2.28%

-$0.09

Jul-23

 

 

3:2:1 Crack

$32.26

$32.02

0.75%

$0.24

Jul-23

 

 

PJM West Spark

$37.56

$37.39

0.46%

$0.17

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

5/22/23

5/19/23

% Change

Change

4/24/23

% Change

5/20/22

% Change

 

 

PJM West On Peak

Jun-23

$42.61

$42.53

0.20%

$0.09

$40.84

4.33%

$66.22

-35.66%

 

 

ERCOT North On Peak

Jun-23

$45.29

$44.93

0.81%

$0.36

$43.31

4.57%

$67.68

-33.08%

 

 

CAISO SP 15 On Peak

Jun-23

$44.02

$45.94

-4.17%

-$1.92

$53.13

-17.14%

$64.27

-31.51%

 

 

MISO Indiana On Peak

Jun-23

$47.07

$46.10

2.11%

$0.97

$45.38

3.73%

$67.83

-30.61%

 

 

NEISO Mass On Peak

Jun-23

$46.38

$47.01

-1.35%

-$0.63

$50.25

-7.70%

$58.06

-20.12%

 

 

WECC Mid C On Peak

Jun-23

$62.51

$64.51

-3.09%

-$2.00

$59.58

4.92%

$50.28

24.33%

 

 

NYISO Zone G On Peak

Jun-23

$41.70

$42.24

-1.27%

-$0.54

$44.17

-5.59%

$56.87

-26.67%

 

 

 

 

 

Natural Gas & Basis

 

 

 

EOXLive Market Data

 

 

 

Contract

5/22/23

5/19/23

% Change

Change

4/24/23

% Change

5/20/22

% Change

 

 

NYMEX Henry Hub

Jun-23

$2.400

$2.585

-7.16%

-$0.18

$2.47

-2.87%

$4.78

-49.77%

 

 

Houston Ship Channel

Jun-23

-$0.163

-$0.188

-13.27%

$0.02

-$0.28

-41.18%

-$0.17

-6.71%

 

 

Chicago

Jun-23

-$0.157

-$0.165

5.17%

$0.01

-$0.15

1.29%

-$0.27

-42.52%

 

 

Waha

Jun-23

-$1.028

-$1.084

-5.14%

$0.06

-$1.43

-28.35%

-$1.98

-48.13%

 

 

Algonquin

Jun-23

$0.584

$0.581

0.55%

$0.00

$0.93

-37.14%

-$0.69

-184.30%

 

 

Aeco

Jun-23

-$0.796

-$0.864

-7.88%

$0.07

-$0.78

1.45%

-$1.30

-39.00%

 

 

Socal

Jun-23

$0.426

$0.420

1.45%

$0.01

$0.65

-34.88%

-$0.32

-232.57%

 

 

 

 

 

Natural Gas Liquids

 

 

 

EOXLive Market Data

 

 

 

Contract

5/22/23

5/19/23

% Change

Change

4/24/23

% Change

5/20/22

% Change

 

 

Mt. Belvieu Propane LST

Jun-23

$0.632

$0.634

-0.19%

$0.00

$0.81

-21.43%

$1.03

-38.80%

 

 

Mt. Belvieu Propane non LST

Jun-23

$0.629

$0.639

-1.57%

-$0.01

$0.81

-22.02%

$1.03

-39.07%

 

 

Mt. Belview Ethane

Jun-23

$0.207

$0.213

-2.75%

-$0.01

$0.21

-0.41%

$0.37

-43.99%

 

 

Mt. Belview Nat. Gasoline

Jun-23

$1.416

$1.412

0.28%

$0.00

$1.54

-8.15%

$1.87

-24.44%

 

 

Mt. Belvieu Butane LST

Jun-23

$0.713

$0.718

-0.69%

$0.00

$0.92

-22.46%

$1.17

-38.95%

 

 

Conway Propane

Jun-23

$0.622

$0.639

-2.57%

-$0.02

$0.80

-21.96%

$1.02

-38.88%

 

 

Conway Nat. Gasoline

Jun-23

$1.469

$1.458

0.75%

$0.01

$1.57

-6.21%

$1.89

-22.25%

 

 

 

 

Crude Oil

 

 

 

EOXLive Market Data

 

 

 

Contract

5/22/23

5/19/23

% Change

Change

4/24/23

% Change

5/20/22

% Change

 

 

WTI

Jul-23

$72.05

$71.69

0.50%

$0.36

$78.60

-8.33%

$87.74

-17.88%

 

 

Brent

Jul-23

$75.99

$75.58

0.54%

$0.41

$82.54

-7.94%

$92.65

-17.98%

 

 

WCS

Jul-23

-$12.85

-$12.85

0.00%

$0.00

-$14.11

-8.93%

-$13.85

-7.21%

 

 

LLS

Jul-23

$73.99

$73.74

0.33%

$0.24

$80.04

-7.57%

$90.21

-17.99%

 

 

Mars

Jul-23

$70.51

$70.25

0.38%

$0.27

$76.25

-7.53%

$86.45

-18.44%

 

 

Sour

Jul-23

$70.79

$70.69

0.14%

$0.10

$77.14

-8.23%

$87.26

-18.88%

 

 

ESPO

Jul-23

$74.93

$74.70

0.31%

$0.23

$80.84

-7.31%

$89.34

-16.13%

 

 

 

 

Refined Products

 

 

 

EOXLive Market Data

 

 

 

Contract

5/22/23

5/19/23

% Change

Change

4/24/23

% Change

5/20/22

% Change

 

 

NY Heating Oil

Jun-23

$2.37

$2.36

0.17%

$0.00

$2.49

-5.05%

$2.93

-19.33%

 

 

NY Gasoline

Jun-23

$2.65

$2.58

2.91%

$0.08

$2.56

3.59%

$2.80

-5.04%

 

 

GC Gasoline

Jun-23

$2.55

$2.48

3.03%

$0.07

$2.46

3.74%

$2.69

-5.23%

 

 

GC Jet

Jun-23

$2.19

$2.22

-1.35%

-$0.03

$2.25

-2.93%

$2.77

-20.87%

 

 

Chicago Ethanol

Jun-23

$2.41

$2.37

1.95%

$0.05

$2.37

1.60%

$2.45

-1.47%

 

 

Rotterdam Gasoil

Jun-23

$638.34

$643.91

-0.87%

-$5.57

$689.41

-7.41%

$800.08

-20.22%

 

 

Singapore Jet Kero

Jun-23

$89.90

$90.09

-0.21%

-$0.19

$94.11

-4.47%

$109.19

-17.67%

 

 

 

 

Implied Volatilities

 

 

 

EOXLive Market Data

 

 

 

Contract

5/22/23

5/19/23

% Change

Change

4/24/23

% Change

5/20/22

% Change

 

 

Henry Hub Straddle

Jul-23

78.80%

71.81%

9.73%

6.99%

62.11%

26.87%

54.36%

44.96%

 

 

Algonquin Straddle

Jul-23

116.08%

119.80%

-3.11%

-3.72%

161.22%

-28.00%

58.63%

97.99%

 

 

Waha Straddle

Jul-23

120.24%

109.53%

9.78%

10.71%

123.05%

-2.28%

89.98%

33.63%

 

 

Chicago Straddle

Jul-23

80.92%

75.65%

6.97%

5.27%

67.46%

19.95%

57.10%

41.72%

 

 

PJM West Straddle

Jul-23

79.27%

80.37%

-1.37%

-1.10%

82.82%

-4.29%

59.80%

32.56%

 

 

SP – 15 Straddle

Jul-23

181.65%

150.62%

20.60%

31.03%

110.77%

63.99%

60.96%

197.98%

 

 

Mid. C Straddle

Jul-23

216.88%

213.56%

1.55%

3.32%

167.52%

29.47%

90.71%

139.09%

 

 

 

 

Euro Gas and Power/LNG

 

 

EOXLive Market Data

 

 

 

Contract

5/22/23

5/19/23

% Change

Change

4/24/23

% Change

5/20/22

% Change

 

 

Dutch TTF

Jul-23

EUR 29.30

EUR 30.49

-3.89%

-EUR 1.19

EUR 40.03

-26.80%

EUR 69.00

-57.54%

 

 

NBP

Jul-23

GBP 65.54

GBP 67.32

-2.64%

-GBP 1.78

GBP 96.14

-31.83%

GBP 159.41

-58.89%

 

 

German Base

Jul-23

EUR 90.70

EUR 91.45

-0.82%

-EUR 0.75

EUR 108.42

-16.34%

EUR 189.89

-52.23%

 

 

UK Base

Jul-23

GBP 84.06

GBP 87.18

-3.58%

-GBP 3.12

GBP 104.63

-19.66%

GBP 156.65

-46.34%

 

 

French Base

Jul-23

EUR 89.14

EUR 94.72

-5.89%

-EUR 5.58

EUR 123.89

-28.05%

EUR 177.11

-49.67%

 

 

Italian Base

Jul-23

EUR 113.45

EUR 121.05

-6.28%

-EUR 7.60

EUR 151.91

-25.32%

EUR 184.76

-38.60%

 

 

JKM LNG

Jul-23

$11.54

$11.79

-2.10%

-$0.25

$11.77

-1.92%

$19.83

-41.78%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

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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