Morning Report: Gas * Power * NGL * Crude * Products * Vols — Apr-11-2023

Apr 11, 2023

  

 

 

 

 

 

 

 

 

 

Prices as of 8:55 AM CST

 

 

 

 

 

 

 

Current Price

Previous Settle

% Change

Change

Volume

 

 

Natural Gas

$2.174

$2.172

0.09%

$0.002

44,901

 

 

WTI

$80.08

$79.74

0.43%

$0.34

116,151

 

 

Brent

$84.43

$84.18

0.30%

$0.25

10,772

 

 

ULSD

$2.653

$2.681

-1.06%

-$0.029

10,412

 

 

RBOB

$2.825

$2.808

0.59%

$0.017

10,930

 

 

 

 

Spreads

 

 

 

 

 

 

 

Current

Previous

% Change

Change

Contract

 

 

WTI-Brent

$4.25

$4.41

-3.63%

-$0.16

Jun-23

 

 

3:2:1 Crack

$33.69

$33.93

-0.71%

-$0.24

May-23

 

 

PJM West Spark

$32.02

$30.81

3.93%

$1.21

May-23

 

 

 

 

Baker Hughes Rig Count

 

 

 

 

 

 

 

Date

Count

Change

1 Year Chg.

1 Year Date

 

 

U.S.

04/06/23

751

-4

62

04/08/22

 

 

Canada

04/06/23

127

-12

16

04/08/22

 

 

International

Mar

930

15

115

Mar

 

 

 

 

CFTC Net Positions

 

 

 

 

 

 

As of 4/4/2023

Open Interest

Total Net Long

Total Net Short

Diff

 

 

PJM West On Peak

99,704

97,077

98,614

-1,537

 

 

PJM West Off Peak

87,699

84,874

86,586

-1,712

 

 

Natural Gas Henry Hub

446,409

417,061

433,604

-16,543

 

 

WTI – Light Sweet Crude Futures

127,362

93,069

94,961

-1,892

 

 

Brent Crude Last Day

154,650

145,559

150,421

-4,862

 

 

NYM Ethanol

28,061

27,594

27,742

-148

 

 

Mt Belvieu LDH Propane Swap

155,827

154,953

155,519

-566

 

 

RBOB

310,661

285,943

294,773

-8,830

 

 

HSC Basis

604,581

597,888

594,611

3,277

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

EIA Lower 48 Natural Gas Storage

 

 

 

 

04/06/18

 

 

 

3/31/23

3/24/23

Net Change

% Change

4/1/22

% Change

5 Year Avg.

% Change

 

 

East

335

343

-8

-2.33%

241

39.00%

271

23.71%

 

 

Midwest

421

437

-16

-3.66%

296

42.23%

331

27.19%

 

 

Mountain

80

82

-2

-2.44%

91

-12.09%

89

-10.11%

 

 

Pacific

73

73

0

0.00%

165

-55.76%

171

-57.36%

 

 

South

921

917

4

0.44%

589

56.37%

674

36.65%

 

 

    Salt

263

262

1

0.38%

173

52.02%

207

27.05%

 

 

    Non_Salt

658

655

3

0.46%

416

58.17%

467

40.90%

 

 

Total

1,830

1,853

-23

-1.24%

1,382

32.42%

1,536

19.14%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Power Generation Additions/Retirements

 

 

  

 

Front Month Prices

 

 

 

 

 

 

 

 

 

 

 

 

 

Electricity

 

 

 

EOXLive Market Data

 

 

 

Contract

4/10/23

4/6/23

% Change

Change

3/10/23

% Change

4/7/22

% Change

 

 

PJM West On Peak

May-23

$36.66

$35.45

3.42%

$1.21

$40.95

-10.47%

$57.82

-36.59%

 

 

ERCOT North On Peak

May-23

$37.07

$34.76

6.64%

$2.31

$38.61

-3.98%

$49.28

-24.79%

 

 

CAISO SP 15 On Peak

May-23

$30.96

$30.94

0.06%

$0.02

$32.50

-4.73%

$30.27

2.27%

 

 

MISO Indiana On Peak

May-23

$40.30

$38.76

3.99%

$1.55

$43.53

-7.41%

$59.27

-32.00%

 

 

NEISO Mass On Peak

May-23

$32.48

$30.93

5.00%

$1.55

$37.35

-13.04%

$50.03

-35.09%

 

 

WECC Mid C On Peak

May-23

$65.36

$61.10

6.97%

$4.26

$54.36

20.23%

$31.58

106.97%

 

 

NYISO Zone G On Peak

May-23

$34.60

$32.97

4.95%

$1.63

$38.03

-9.00%

$43.28

-20.05%

 

 

 

 

 

Natural Gas & Basis

 

 

 

EOXLive Market Data

 

 

 

Contract

4/10/23

4/6/23

% Change

Change

3/10/23

% Change

4/7/22

% Change

 

 

NYMEX Henry Hub

May-23

$2.172

$2.011

8.01%

$0.16

$2.56

-15.12%

$4.36

-50.15%

 

 

Houston Ship Channel

May-23

-$0.238

-$0.235

1.19%

$0.00

-$0.27

-12.32%

-$0.21

15.77%

 

 

Chicago

May-23

-$0.030

-$0.014

-55.45%

-$0.02

-$0.09

-66.22%

-$0.30

-89.74%

 

 

Waha

May-23

-$1.474

-$1.525

-3.36%

$0.05

-$2.01

-26.76%

-$1.84

-19.81%

 

 

Algonquin

May-23

-$0.105

-$0.126

16.52%

$0.02

-$0.18

-40.15%

-$0.53

-80.20%

 

 

Aeco

May-23

-$0.401

-$0.429

-6.46%

$0.03

-$0.84

-52.49%

-$1.01

-60.16%

 

 

Socal

May-23

$0.506

$0.440

15.20%

$0.07

$0.22

129.93%

-$0.50

-200.74%

 

 

 

 

 

Natural Gas Liquids

 

 

 

EOXLive Market Data

 

 

 

Contract

4/10/23

4/6/23

% Change

Change

3/10/23

% Change

4/7/22

% Change

 

 

Mt. Belvieu Propane LST

May-23

$0.809

$0.821

-1.52%

-$0.01

$0.81

0.09%

$1.00

-19.49%

 

 

Mt. Belvieu Propane non LST

May-23

$0.811

$0.825

-1.73%

-$0.01

$0.81

0.09%

$1.01

-19.95%

 

 

Mt. Belview Ethane

May-23

$0.203

$0.210

-3.62%

-$0.01

$0.24

-15.57%

$0.33

-39.28%

 

 

Mt. Belview Nat. Gasoline

May-23

$1.587

$1.597

-0.65%

-$0.01

$1.57

1.03%

$1.89

-16.04%

 

 

Mt. Belvieu Butane LST

May-23

$0.947

$0.958

-1.16%

-$0.01

$0.94

0.52%

$1.13

-16.36%

 

 

Conway Propane

May-23

$0.797

$0.802

-0.62%

-$0.01

$0.77

3.80%

$0.99

-19.51%

 

 

Conway Nat. Gasoline

May-23

$1.575

$1.603

-1.72%

-$0.03

$1.59

-0.95%

$1.80

-12.48%

 

 

 

 

Crude Oil

 

 

 

EOXLive Market Data

 

 

 

Contract

4/10/23

4/6/23

% Change

Change

3/10/23

% Change

4/7/22

% Change

 

 

WTI

Jun-23

$79.77

$80.68

-1.14%

-$0.91

$76.80

3.87%

$87.03

-8.34%

 

 

Brent

Jun-23

$84.18

$85.12

-1.12%

-$0.94

$82.16

2.46%

$92.04

-8.54%

 

 

WCS

Jun-23

-$15.00

-$15.00

0.00%

$0.00

-$14.80

1.38%

-$12.20

22.90%

 

 

LLS

Jun-23

$82.39

$82.05

0.40%

$0.33

$78.64

4.77%

$88.41

-6.81%

 

 

Mars

Jun-23

$77.86

$78.55

-0.89%

-$0.69

$75.32

3.37%

$84.41

-7.77%

 

 

Sour

Jun-23

$78.46

$79.12

-0.85%

-$0.67

$75.83

3.46%

$85.09

-7.80%

 

 

ESPO

Jun-23

$83.69

$83.25

0.52%

$0.44

$80.36

4.15%

$91.00

-8.04%

 

 

 

 

Refined Products

 

 

 

EOXLive Market Data

 

 

 

Contract

4/10/23

4/6/23

% Change

Change

3/10/23

% Change

4/7/22

% Change

 

 

NY Heating Oil

May-23

$2.69

$2.67

0.64%

$0.02

$2.72

-1.32%

$2.82

-4.68%

 

 

NY Gasoline

May-23

$2.82

$2.81

0.57%

$0.02

$2.63

7.34%

$2.66

6.17%

 

 

GC Gasoline

May-23

$2.72

$2.70

0.59%

$0.02

$2.53

7.63%

$2.56

6.41%

 

 

GC Jet

May-23

$2.44

$2.45

-0.29%

-$0.01

$2.46

-0.65%

$2.60

-6.15%

 

 

Chicago Ethanol

May-23

$2.45

$2.42

1.28%

$0.03

$2.15

14.00%

$2.31

6.33%

 

 

Rotterdam Gasoil

May-23

$732.38

$739.00

-0.90%

-$6.62

$730.06

0.32%

$773.11

-5.27%

 

 

Singapore Jet Kero

May-23

$100.99

$102.19

-1.18%

-$1.20

$100.26

0.73%

$102.08

-1.07%

 

 

 

 

Implied Volatilities

 

 

 

EOXLive Market Data

 

 

 

Contract

4/10/23

4/6/23

% Change

Change

3/10/23

% Change

4/7/22

% Change

 

 

Henry Hub Straddle

May-23

96.83%

109.15%

-11.29%

-12.32%

87.15%

11.11%

36.91%

162.34%

 

 

Algonquin Straddle

May-23

101.38%

114.49%

-11.45%

-13.11%

96.23%

5.35%

41.53%

144.11%

 

 

Waha Straddle

May-23

330.06%

321.56%

2.64%

8.50%

207.84%

58.80%

90.14%

266.16%

 

 

Chicago Straddle

May-23

95.79%

111.12%

-13.80%

-15.33%

91.61%

4.56%

38.70%

147.52%

 

 

PJM West Straddle

May-23

77.37%

79.31%

-2.45%

-1.94%

71.00%

8.97%

50.40%

53.51%

 

 

SP – 15 Straddle

May-23

59.75%

51.77%

15.41%

7.98%

70.36%

-15.08%

22.12%

170.12%

 

 

Mid. C Straddle

May-23

148.62%

183.98%

-19.22%

-35.36%

169.60%

-12.37%

34.71%

328.18%

 

 

 

 

Euro Gas and Power/LNG

 

 

EOXLive Market Data

 

 

 

Contract

4/10/23

4/6/23

% Change

Change

3/10/23

% Change

4/7/22

% Change

 

 

Dutch TTF

May-23

EUR 43.13

EUR 43.33

-0.47%

-EUR 0.20

EUR 53.89

-19.98%

EUR 66.58

-35.23%

 

 

NBP

May-23

GBP 102.31

GBP 103.80

-1.44%

-GBP 1.49

GBP 137.60

-25.65%

GBP 166.78

-38.66%

 

 

German Base

May-23

EUR 108.33

EUR 109.26

-0.85%

-EUR 0.93

EUR 130.83

-17.20%

EUR 164.98

-34.34%

 

 

UK Base

May-23

GBP 106.40

GBP 106.35

0.05%

GBP 0.06

GBP 149.55

-28.85%

GBP 147.79

-28.01%

 

 

French Base

May-23

EUR 111.47

EUR 114.56

-2.69%

-EUR 3.08

EUR 141.40

-21.17%

EUR 154.51

-27.85%

 

 

Italian Base

May-23

EUR 139.04

EUR 138.95

0.06%

EUR 0.09

EUR 158.61

-12.34%

EUR 171.92

-19.13%

 

 

JKM LNG

May-23

$12.81

$12.45

2.87%

$0.36

$14.67

-12.67%

$24.19

-47.04%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

Cooling Degree Days

 

 

 

 

 

 

04/08/2023

Week Tot

Dev Norm

Dev L YR

Cum Tot

CumD Norm

CumD L YR

CumD Norm

CumD L YR

 

 

New England

0

0

0

0

0

0

NA

NA

 

 

Middle Atlantic

0

0

0

0

0

0

NA

NA

 

 

E N Central

0

0

0

0

-1

0

NA

NA

 

 

W N Central

1

0

1

1

-3

1

NA

NA

 

 

South Atlantic

34

21

13

182

55

31

43.00%

21.00%

 

 

E S Central

15

10

12

44

8

32

NA

NA

 

 

W S Central

28

13

2

150

52

60

NA

NA

 

 

Mountain

0

-6

-9

0

-20

-19

NA

NA

 

 

Pacific

0

-2

-7

0

-9

-7

NA

NA

 

 

United States

10

6

2

53

13

12

NA

NA

 

 

 

 

Heating Degree Days

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

04/08/2023

Week Tot

Dev Norm

Dev L YR

Cum Tot

CumD Norm

CumD L YR

CumD Norm

CumD L YR

 

 

New England

151

-11

5

5,081

-786

-241

-13.00%

-5.00%

 

 

Middle Atlantic

113

-28

-22

4,590

-731

-136

-14.00%

-3.00%

 

 

E N Central

125

-20

-34

5,275

-591

-74

-10.00%

-1.00%

 

 

W N Central

148

9

-8

6,048

-133

305

-2.00%

5.00%

 

 

South Atlantic

36

-19

-19

2,255

-415

1

-16.00%

0.00%

 

 

E S Central

47

-20

-32

2,876

-506

-90

-15.00%

-3.00%

 

 

W S Central

32

-1

5

2,001

-213

111

-10.00%

6.00%

 

 

Mountain

161

45

62

4,998

396

800

9.00%

19.00%

 

 

Pacific

121

41

70

3,181

417

633

15.00%

25.00%

 

 

United States

96

-3

1

3,806

-289

135

-7.00%

4.00%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

Weather Forecast & Seasonal Outlook

 

 

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