Morning Report: Gas * Power * NGL * Crude * Products * Vols — May-26-2023

May 26, 2023

  

 

 

 

 

 

 

 

 

 

Prices as of 9:00 AM CST

 

 

 

 

 

 

 

Current Price

Previous Settle

% Change

Change

Volume

 

 

Natural Gas

$2.215

$2.307

-3.99%

-$0.092

1,054

 

 

WTI

$72.78

$71.83

1.32%

$0.95

113,042

 

 

Brent

$77.07

$76.26

1.06%

$0.81

6,715

 

 

ULSD

$2.377

$2.346

1.31%

$0.031

1,635

 

 

RBOB

$2.722

$2.674

1.82%

$0.049

2,926

 

 

 

 

Spreads

 

 

 

 

 

 

 

Current

Previous

% Change

Change

Contract

 

 

WTI-Brent

$4.31

$4.43

-2.71%

-$0.12

Jul-23

 

 

3:2:1 Crack

$33.16

$32.36

2.47%

$0.80

Jul-23

 

 

PJM West Spark

$33.75

$35.01

-3.60%

-$1.26

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

 

 

 

 

05/25/18

 

 

 

5/19/23

5/12/23

Net Change

% Change

5/20/22

% Change

5 Year Avg.

% Change

 

 

East

489

458

31

6.77%

325

50.46%

385

27.01%

 

 

Midwest

546

520

26

5.00%

391

39.64%

442

23.53%

 

 

Mountain

120

112

8

7.14%

109

10.09%

118

1.52%

 

 

Pacific

139

127

12

9.45%

190

-26.84%

226

-38.44%

 

 

South

1,042

1,023

19

1.86%

797

30.74%

875

19.11%

 

 

    Salt

294

290

4

1.38%

251

17.13%

277

6.29%

 

 

    Non_Salt

748

734

14

1.91%

546

37.00%

598

25.00%

 

 

Total

2,336

2,240

96

4.29%

1,812

28.92%

2,046

14.16%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Power Generation Additions/Retirements

 

 

  

 

Front Month Prices

 

 

 

 

 

 

 

 

 

 

 

 

 

Electricity

 

 

 

EOXLive Market Data

 

 

 

Contract

5/25/23

5/24/23

% Change

Change

4/27/23

% Change

5/25/22

% Change

 

 

PJM West On Peak

Jun-23

$38.50

$39.95

-3.62%

-$1.44

$42.17

-8.69%

$66.95

-42.49%

 

 

ERCOT North On Peak

Jun-23

$45.95

$45.44

1.12%

$0.51

$43.42

5.84%

$72.88

-36.95%

 

 

CAISO SP 15 On Peak

Jun-23

$44.25

$47.01

-5.89%

-$2.77

$53.42

-17.18%

$67.76

-34.70%

 

 

MISO Indiana On Peak

Jun-23

$43.94

$44.80

-1.90%

-$0.85

$46.70

-5.90%

$69.19

-36.48%

 

 

NEISO Mass On Peak

Jun-23

$43.46

$44.59

-2.54%

-$1.13

$47.71

-8.91%

$57.33

-24.20%

 

 

WECC Mid C On Peak

Jun-23

$68.43

$67.72

1.06%

$0.72

$58.26

17.46%

$54.08

26.55%

 

 

NYISO Zone G On Peak

Jun-23

$37.56

$39.09

-3.91%

-$1.53

$42.70

-12.04%

$57.75

-34.96%

 

 

 

 

 

Natural Gas & Basis

 

 

 

EOXLive Market Data

 

 

 

Contract

5/25/23

5/24/23

% Change

Change

4/27/23

% Change

5/25/22

% Change

 

 

NYMEX Henry Hub

Jun-23

$2.307

$2.398

-3.79%

-$0.09

$2.36

-2.04%

$5.02

-54.06%

 

 

Houston Ship Channel

Jun-23

-$0.139

-$0.136

2.43%

$0.00

-$0.24

-41.29%

-$0.18

-22.75%

 

 

Chicago

Jun-23

-$0.188

-$0.177

-5.60%

-$0.01

-$0.16

19.73%

-$0.28

-32.26%

 

 

Waha

Jun-23

-$0.731

-$0.940

-22.20%

$0.21

-$1.25

-41.54%

-$2.13

-65.63%

 

 

Algonquin

Jun-23

$0.366

$0.511

-28.45%

-$0.15

$0.84

-56.37%

-$0.74

-149.29%

 

 

Aeco

Jun-23

-$0.763

-$0.762

0.12%

$0.00

-$0.70

8.43%

-$1.33

-42.70%

 

 

Socal

Jun-23

$0.461

$0.508

-9.28%

-$0.05

$0.47

-2.66%

-$0.30

-255.47%

 

 

 

 

 

Natural Gas Liquids

 

 

 

EOXLive Market Data

 

 

 

Contract

5/25/23

5/24/23

% Change

Change

4/27/23

% Change

5/25/22

% Change

 

 

Mt. Belvieu Propane LST

Jun-23

$0.626

$0.646

-3.14%

-$0.02

$0.74

-15.79%

$1.03

-39.43%

 

 

Mt. Belvieu Propane non LST

Jun-23

$0.625

$0.644

-2.93%

-$0.02

$0.74

-16.09%

$1.05

-40.31%

 

 

Mt. Belview Ethane

Jun-23

$0.204

$0.211

-3.28%

-$0.01

$0.20

1.22%

$0.42

-50.99%

 

 

Mt. Belview Nat. Gasoline

Jun-23

$1.434

$1.473

-2.64%

-$0.04

$1.47

-2.58%

$1.89

-24.11%

 

 

Mt. Belvieu Butane LST

Jun-23

$0.708

$0.720

-1.63%

-$0.01

$0.84

-15.37%

$1.18

-39.75%

 

 

Conway Propane

Jun-23

$0.620

$0.643

-3.54%

-$0.02

$0.74

-15.78%

$1.03

-39.65%

 

 

Conway Nat. Gasoline

Jun-23

$1.498

$1.514

-1.03%

-$0.02

$1.49

0.30%

$1.90

-21.20%

 

 

 

 

Crude Oil

 

 

 

EOXLive Market Data

 

 

 

Contract

5/25/23

5/24/23

% Change

Change

4/27/23

% Change

5/25/22

% Change

 

 

WTI

Jul-23

$71.83

$74.34

-3.49%

-$2.51

$74.58

-3.69%

$89.67

-19.90%

 

 

Brent

Jul-23

$76.26

$78.36

-2.75%

-$2.10

$78.22

-2.51%

$94.59

-19.38%

 

 

WCS

Jul-23

-$13.56

-$12.51

7.74%

-$1.05

-$13.94

-2.72%

-$15.10

-10.20%

 

 

LLS

Jul-23

$73.57

$75.56

-2.70%

-$1.98

$76.03

-3.23%

$90.35

-18.56%

 

 

Mars

Jul-23

$70.34

$72.17

-2.61%

-$1.84

$72.60

-3.12%

$87.52

-19.63%

 

 

Sour

Jul-23

$70.55

$72.36

-2.57%

-$1.81

$73.08

-3.47%

$88.51

-20.29%

 

 

ESPO

Jul-23

$75.47

$76.64

-1.55%

-$1.17

$76.43

-1.26%

$91.13

-17.18%

 

 

 

 

Refined Products

 

 

 

EOXLive Market Data

 

 

 

Contract

5/25/23

5/24/23

% Change

Change

4/27/23

% Change

5/25/22

% Change

 

 

NY Heating Oil

Jun-23

$2.35

$2.41

-2.86%

-$0.07

$2.35

-0.26%

$3.01

-22.14%

 

 

NY Gasoline

Jun-23

$2.68

$2.73

-1.80%

-$0.05

$2.52

6.44%

$2.91

-7.91%

 

 

GC Gasoline

Jun-23

$2.58

$2.63

-1.86%

-$0.05

$2.42

6.70%

$2.81

-8.19%

 

 

GC Jet

Jun-23

$2.16

$2.20

-1.91%

-$0.04

$2.14

0.98%

$2.82

-23.49%

 

 

Chicago Ethanol

Jun-23

$2.47

$2.46

0.41%

$0.01

$2.34

5.61%

$2.45

0.73%

 

 

Rotterdam Gasoil

Jun-23

$649.50

$653.11

-0.55%

-$3.61

$645.63

0.60%

$830.97

-21.84%

 

 

Singapore Jet Kero

Jun-23

$89.60

$89.50

0.12%

$0.10

$90.32

-0.79%

$110.58

-18.97%

 

 

 

 

Implied Volatilities

 

 

 

EOXLive Market Data

 

 

 

Contract

5/25/23

5/24/23

% Change

Change

4/27/23

% Change

5/25/22

% Change

 

 

Henry Hub Straddle

Jul-23

68.09%

63.84%

6.66%

4.25%

62.47%

9.00%

47.23%

44.17%

 

 

Algonquin Straddle

Jul-23

84.49%

95.35%

-11.39%

-10.86%

155.73%

-45.75%

52.54%

60.81%

 

 

Waha Straddle

Jul-23

97.41%

98.20%

-0.80%

-0.79%

117.63%

-17.19%

81.30%

19.82%

 

 

Chicago Straddle

Jul-23

67.14%

65.78%

2.07%

1.36%

67.34%

-0.30%

49.86%

34.66%

 

 

PJM West Straddle

Jul-23

79.95%

79.43%

0.65%

0.52%

82.43%

-3.01%

59.11%

35.26%

 

 

SP – 15 Straddle

Jul-23

159.76%

154.14%

3.65%

5.62%

142.27%

12.29%

63.11%

153.15%

 

 

Mid. C Straddle

Jul-23

231.10%

223.19%

3.54%

7.91%

169.52%

36.33%

91.09%

153.71%

 

 

 

 

Euro Gas and Power/LNG

 

 

EOXLive Market Data

 

 

 

Contract

5/25/23

5/24/23

% Change

Change

4/27/23

% Change

5/25/22

% Change

 

 

Dutch TTF

Jul-23

EUR 25.40

EUR 28.50

-10.88%

-EUR 3.10

EUR 39.58

-35.82%

EUR 70.15

-63.79%

 

 

NBP

Jul-23

GBP 56.86

GBP 64.00

-11.16%

-GBP 7.14

GBP 92.23

-38.35%

GBP 158.97

-64.23%

 

 

German Base

Jul-23

EUR 83.25

EUR 87.65

-5.02%

-EUR 4.40

EUR 104.21

-20.11%

EUR 194.11

-57.11%

 

 

UK Base

Jul-23

GBP 77.57

GBP 81.21

-4.48%

-GBP 3.64

GBP 101.40

-23.50%

GBP 154.70

-49.86%

 

 

French Base

Jul-23

EUR 83.82

EUR 85.23

-1.65%

-EUR 1.40

EUR 111.87

-25.07%

EUR 177.32

-52.73%

 

 

Italian Base

Jul-23

EUR 104.69

EUR 109.57

-4.45%

-EUR 4.88

EUR 140.95

-25.72%

EUR 182.54

-42.65%

 

 

JKM LNG

Jul-23

$10.52

$10.94

-3.87%

-$0.42

$11.20

-6.12%

$20.81

-49.45%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

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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