Morning Report: Gas * Power * NGL * Crude * Products * Vols — May-30-2023

May 30, 2023

  

 

 

 

 

 

 

 

 

 

Prices as of 9:16 AM CST

 

 

 

 

 

 

 

Current Price

Previous Settle

% Change

Change

Volume

 

 

Natural Gas

$2.309

$2.417

-4.47%

-$0.108

73,535

 

 

WTI

$69.98

$72.67

-3.70%

-$2.69

244,152

 

 

Brent

$74.20

$76.95

-3.57%

-$2.75

7,557

 

 

ULSD

$2.309

$2.369

-2.56%

-$0.061

2,251

 

 

RBOB

$2.617

$2.703

-3.20%

-$0.086

3,396

 

 

 

 

Spreads

 

 

 

 

 

 

 

Current

Previous

% Change

Change

Contract

 

 

WTI-Brent

$4.15

$4.28

-3.04%

-$0.13

Jul-23

 

 

3:2:1 Crack

$32.23

$32.86

-1.93%

-$0.63

Jul-23

 

 

PJM West Spark

NA

NA

NA

NA

Jun-23

 

 

 

 

Baker Hughes Rig Count

 

 

 

 

 

 

 

Date

Count

Change

1 Year Chg.

1 Year Date

 

 

U.S.

05/26/23

711

-9

-16

05/27/22

 

 

Canada

05/26/23

87

2

-16

05/27/22

 

 

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

5/26/23

5/25/23

% Change

Change

4/28/23

% Change

5/26/22

% Change

 

 

PJM West On Peak

Jun-23

$38.18

$38.50

-0.83%

-$0.32

$39.64

-3.67%

$68.46

-44.23%

 

 

ERCOT North On Peak

Jun-23

$45.20

$45.95

-1.64%

-$0.75

$39.45

14.56%

$69.80

-35.24%

 

 

CAISO SP 15 On Peak

Jun-23

$43.05

$44.25

-2.71%

-$1.20

$51.38

-16.21%

$66.25

-35.02%

 

 

MISO Indiana On Peak

Jun-23

$43.76

$43.94

-0.42%

-$0.19

$43.78

-0.05%

$70.69

-38.10%

 

 

NEISO Mass On Peak

Jun-23

$39.98

$43.46

-8.02%

-$3.48

$49.00

-18.42%

$58.24

-31.36%

 

 

WECC Mid C On Peak

Jun-23

$70.26

$68.43

2.68%

$1.83

$52.93

32.76%

$52.24

34.50%

 

 

NYISO Zone G On Peak

Jun-23

$36.50

$37.56

-2.83%

-$1.06

$41.66

-12.40%

$59.05

-38.19%

 

 

 

 

 

Natural Gas & Basis

 

 

 

EOXLive Market Data

 

 

 

Contract

5/26/23

5/25/23

% Change

Change

4/28/23

% Change

5/26/22

% Change

 

 

NYMEX Henry Hub

Jul-23

$2.417

$2.476

-2.38%

-$0.06

$2.58

-6.25%

$5.06

-52.23%

 

 

Houston Ship Channel

Jul-23

-$0.119

-$0.113

5.20%

-$0.01

-$0.16

-26.88%

-$0.16

-26.25%

 

 

Chicago

Jul-23

-$0.173

-$0.167

-3.75%

-$0.01

-$0.16

6.19%

-$0.24

-28.57%

 

 

Waha

Jul-23

-$0.917

-$0.881

-4.06%

-$0.04

-$1.25

-26.75%

-$1.90

-51.65%

 

 

Algonquin

Jul-23

$1.637

$1.722

-4.97%

-$0.09

$2.20

-25.45%

-$0.23

-798.17%

 

 

Aeco

Jul-23

-$1.202

-$1.201

0.05%

$0.00

-$1.30

-7.31%

-$1.40

-14.35%

 

 

Socal

Jul-23

$1.635

$1.718

-4.84%

-$0.08

$1.69

-3.03%

$0.75

118.77%

 

 

 

 

 

Natural Gas Liquids

 

 

 

EOXLive Market Data

 

 

 

Contract

5/26/23

5/25/23

% Change

Change

4/28/23

% Change

5/26/22

% Change

 

 

Mt. Belvieu Propane LST

Jun-23

$0.620

$0.626

-0.99%

-$0.01

$0.74

-15.79%

$1.06

-41.27%

 

 

Mt. Belvieu Propane non LST

Jun-23

$0.625

$0.625

0.01%

$0.00

$0.72

-13.73%

$1.08

-42.30%

 

 

Mt. Belview Ethane

Jun-23

$0.203

$0.204

-0.58%

$0.00

$0.21

-2.44%

$0.40

-49.66%

 

 

Mt. Belview Nat. Gasoline

Jun-23

$1.440

$1.434

0.41%

$0.01

$1.48

-2.59%

$1.91

-24.54%

 

 

Mt. Belvieu Butane LST

Jun-23

$0.700

$0.708

-1.09%

-$0.01

$0.82

-15.00%

$1.23

-42.89%

 

 

Conway Propane

Jun-23

$0.615

$0.620

-0.79%

$0.00

$0.72

-15.00%

$1.06

-41.93%

 

 

Conway Nat. Gasoline

Jun-23

$1.473

$1.498

-1.71%

-$0.03

$1.48

-0.36%

$1.92

-23.27%

 

 

 

 

Crude Oil

 

 

 

EOXLive Market Data

 

 

 

Contract

5/26/23

5/25/23

% Change

Change

4/28/23

% Change

5/26/22

% Change

 

 

WTI

Jul-23

$72.67

$71.83

1.16%

$0.84

$76.61

-5.14%

$91.35

-20.45%

 

 

Brent

Jul-23

$76.95

$76.26

0.90%

$0.69

$80.33

-4.21%

$96.10

-19.93%

 

 

WCS

Jul-23

-$13.39

-$13.56

-1.31%

$0.18

-$14.52

-7.84%

-$15.25

-12.23%

 

 

LLS

Jul-23

$74.53

$73.57

1.29%

$0.96

$78.29

-4.80%

$90.99

-18.08%

 

 

Mars

Jul-23

$71.49

$70.34

1.61%

$1.15

$74.18

-3.64%

$89.78

-20.38%

 

 

Sour

Jul-23

$71.58

$70.55

1.44%

$1.03

$74.61

-4.07%

$90.82

-21.19%

 

 

ESPO

Jul-23

$75.68

$75.47

0.28%

$0.21

$77.38

-2.19%

$92.75

-18.40%

 

 

 

 

Refined Products

 

 

 

EOXLive Market Data

 

 

 

Contract

5/26/23

5/25/23

% Change

Change

4/28/23

% Change

5/26/22

% Change

 

 

NY Heating Oil

Jun-23

$2.37

$2.35

1.02%

$0.02

$2.38

-0.34%

$3.10

-23.47%

 

 

NY Gasoline

Jun-23

$2.71

$2.68

1.16%

$0.03

$2.52

7.50%

$2.63

3.08%

 

 

GC Gasoline

Jun-23

$2.61

$2.58

1.20%

$0.03

$2.42

7.81%

$2.53

3.20%

 

 

GC Jet

Jun-23

$2.17

$2.16

0.69%

$0.01

$2.17

0.18%

$2.85

-23.74%

 

 

Chicago Ethanol

Jun-23

$2.49

$2.47

1.13%

$0.03

$2.35

6.17%

$2.49

0.28%

 

 

Rotterdam Gasoil

Jun-23

$648.03

$649.50

-0.23%

-$1.47

$653.75

-0.88%

$819.70

-20.94%

 

 

Singapore Jet Kero

Jun-23

$87.92

$89.60

-1.88%

-$1.68

$90.99

-3.37%

$111.56

-21.19%

 

 

 

 

Implied Volatilities

 

 

 

EOXLive Market Data

 

 

 

Contract

5/26/23

5/25/23

% Change

Change

4/28/23

% Change

5/26/22

% Change

 

 

Henry Hub Straddle

Jul-23

67.82%

68.09%

-0.40%

-0.27%

60.51%

12.08%

48.33%

40.33%

 

 

Algonquin Straddle

Jul-23

82.85%

84.49%

-1.94%

-1.64%

150.14%

-44.82%

52.70%

57.21%

 

 

Waha Straddle

Jul-23

101.13%

97.41%

3.82%

3.72%

114.27%

-11.50%

81.30%

24.39%

 

 

Chicago Straddle

Jul-23

67.51%

67.14%

0.55%

0.37%

65.88%

2.47%

50.22%

34.43%

 

 

PJM West Straddle

Jul-23

80.34%

79.95%

0.49%

0.39%

82.45%

-2.56%

58.82%

36.59%

 

 

SP – 15 Straddle

Jul-23

164.77%

159.76%

3.14%

5.01%

129.26%

27.47%

62.65%

163.00%

 

 

Mid. C Straddle

Jul-23

238.78%

231.10%

3.32%

7.68%

168.05%

42.09%

90.14%

164.90%

 

 

 

 

Euro Gas and Power/LNG

 

 

EOXLive Market Data

 

 

 

Contract

5/26/23

5/25/23

% Change

Change

4/28/23

% Change

5/26/22

% Change

 

 

Dutch TTF

Jul-23

EUR 25.25

EUR 25.40

-0.59%

-EUR 0.15

EUR 38.67

-34.71%

EUR 71.00

-64.44%

 

 

NBP

Jul-23

GBP 56.10

GBP 56.86

-1.34%

-GBP 0.76

GBP 88.25

-36.43%

GBP 163.27

-65.64%

 

 

German Base

Jul-23

EUR 79.80

EUR 83.25

-4.14%

-EUR 3.45

EUR 106.87

-25.33%

EUR 196.32

-59.35%

 

 

UK Base

Jul-23

GBP 71.04

GBP 77.57

-8.41%

-GBP 6.53

GBP 98.91

-28.17%

GBP 155.38

-54.28%

 

 

French Base

Jul-23

EUR 77.83

EUR 83.82

-7.15%

-EUR 5.99

EUR 114.39

-31.96%

EUR 172.19

-54.80%

 

 

Italian Base

Jul-23

EUR 98.30

EUR 104.69

-6.11%

-EUR 6.39

EUR 141.24

-30.40%

EUR 188.32

-47.80%

 

 

JKM LNG

Jul-23

$10.61

$10.52

0.91%

$0.10

$11.41

-7.02%

$22.11

-52.01%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

Cooling Degree Days

 

 

 

 

 

 

05/27/2023

Week Tot

Dev Norm

Dev L YR

Cum Tot

CumD Norm

CumD L YR

CumD Norm

CumD L YR

 

 

New England

0

-2

-15

5

1

-24

NA

NA

 

 

Middle Atlantic

0

-9

-21

14

-3

-16

NA

NA

 

 

E N Central

3

-13

-4

12

-28

-51

NA

NA

 

 

W N Central

17

-4

16

63

5

-12

NA

NA

 

 

South Atlantic

37

-12

-31

392

64

-37

20.00%

-9.00%

 

 

E S Central

33

-7

-17

186

21

-44

13.00%

-19.00%

 

 

W S Central

57

-12

-1

445

63

-105

16.00%

-19.00%

 

 

Mountain

25

-3

-5

95

-30

-45

-24.00%

-33.00%

 

 

Pacific

3

-7

-7

21

-28

-2

NA

NA

 

 

United States

19

-9

-11

152

9

-37

6.00%

-20.00%

 

 

 

 

Heating Degree Days

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

05/27/2023

Week Tot

Dev Norm

Dev L YR

Cum Tot

CumD Norm

CumD L YR

CumD Norm

CumD L YR

 

 

New England

53

7

27

5,649

-876

-259

-13.00%

-4.00%

 

 

Middle Atlantic

38

4

20

5,043

-815

-161

-14.00%

-3.00%

 

 

E N Central

38

-1

-1

5,796

-634

-83

-10.00%

-1.00%

 

 

W N Central

19

-15

-48

6,515

-171

179

-3.00%

3.00%

 

 

South Atlantic

14

6

10

2,424

-419

10

-15.00%

0.00%

 

 

E S Central

10

-1

4

3,090

-503

-41

-14.00%

-1.00%

 

 

W S Central

2

1

-5

2,100

-186

155

-8.00%

8.00%

 

 

Mountain

24

-17

-31

5,441

333

738

7.00%

16.00%

 

 

Pacific

31

-3

10

3,545

410

581

13.00%

20.00%

 

 

United States

25

-1

2

4,155

-318

118

-7.00%

3.00%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

Weather Forecast & Seasonal Outlook

 

Tropical Outlook

 

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