Morning Report: Gas * Power * NGL * Crude * Products * Vols — Dec-14-2022

Dec 14, 2022

  

 

 

 

 

 

 

 

 

 

Prices as of 8:11 AM CST

 

 

 

 

 

 

 

Current Price

Previous Settle

% Change

Change

Volume

 

 

Natural Gas

$6.633

$6.935

-4.35%

-$0.302

33,911

 

 

WTI

$76.07

$75.39

0.90%

$0.68

65,571

 

 

Brent

$81.46

$80.68

0.97%

$0.78

7,973

 

 

ULSD

$3.176

$3.092

2.70%

$0.083

6,286

 

 

RBOB

$2.177

$2.161

0.75%

$0.016

2,623

 

 

 

 

Spreads

 

 

 

 

 

 

 

Current

Previous

% Change

Change

Contract

 

 

WTI-Brent

$5.27

$5.24

0.57%

$0.03

Feb-23

 

 

3:2:1 Crack

$29.17

$28.32

3.01%

$0.85

Jan-23

 

 

PJM West Spark

$128.60

$114.47

12.34%

$14.13

Jan-23

 

 

 

 

Baker Hughes Rig Count

 

 

 

 

 

 

 

Date

Count

Change

1 Year Chg.

1 Year Date

 

 

U.S.

12/09/22

780

-4

204

12/10/21

 

 

Canada

12/09/22

202

7

25

12/10/21

 

 

International

Nov

910

-1

93

Nov

 

 

 

 

CFTC Net Positions

 

 

 

 

 

 

As of 12/6/2022

Open Interest

Total Net Long

Total Net Short

Diff

 

 

PJM West On Peak

83,669

83,134

83,421

-287

 

 

PJM West Off Peak

78,596

77,526

78,039

-513

 

 

Natural Gas Henry Hub

433,491

414,212

423,062

-8,850

 

 

WTI – Light Sweet Crude Futures

136,490

106,576

105,487

1,089

 

 

Brent Crude Last Day

153,587

143,254

147,862

-4,608

 

 

NYM Ethanol

19,130

18,312

18,954

-642

 

 

Mt Belvieu LDH Propane Swap

128,632

127,593

127,217

376

 

 

RBOB

256,698

237,906

240,350

-2,444

 

 

HSC Basis

512,393

508,066

503,333

4,733

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

EIA Lower 48 Natural Gas Storage

 

 

 

 

12/08/17

 

 

 

12/2/22

11/25/22

Net Change

% Change

12/3/21

% Change

5 Year Avg.

% Change

 

 

East

834

840

-6

-0.71%

843

-1.07%

842

-1.00%

 

 

Midwest

1,028

1,040

-12

-1.15%

1,019

0.88%

1,009

1.88%

 

 

Mountain

193

197

-4

-2.03%

206

-6.31%

201

-3.88%

 

 

Pacific

217

226

-9

-3.98%

266

-18.42%

279

-22.33%

 

 

South

1,191

1,181

10

0.85%

1,171

1.71%

1,150

3.55%

 

 

    Salt

327

314

13

4.14%

328

-0.30%

328

-0.37%

 

 

    Non_Salt

864

867

-3

-0.35%

842

2.61%

822

5.14%

 

 

Total

3,462

3,483

-21

-0.60%

3,505

-1.23%

3,482

-0.58%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Power Generation Additions/Retirements

 

 

  

 

Front Month Prices

 

 

 

 

 

 

 

 

 

 

 

 

 

Electricity

 

 

 

EOXLive Market Data

 

 

 

Contract

12/13/22

12/12/22

% Change

Change

11/14/22

% Change

12/14/21

% Change

 

 

PJM West On Peak

Jan-23

$142.82

$129.31

10.45%

$13.51

$117.07

22.00%

$67.13

112.75%

 

 

ERCOT North On Peak

Jan-23

$109.63

$103.67

5.75%

$5.96

$88.02

24.55%

$54.37

101.64%

 

 

CAISO SP 15 On Peak

Jan-23

$240.93

$246.34

-2.20%

-$5.41

$101.44

137.51%

$60.19

300.27%

 

 

MISO Indiana On Peak

Jan-23

$125.33

$113.52

10.41%

$11.81

$106.81

17.35%

$62.97

99.05%

 

 

NEISO Mass On Peak

Jan-23

$262.59

$286.06

-8.20%

-$23.47

$220.84

18.90%

$122.04

115.18%

 

 

WECC Mid C On Peak

Jan-23

$228.65

$335.87

-31.92%

-$107.22

$130.85

74.75%

$65.15

250.98%

 

 

NYISO Zone G On Peak

Jan-23

$214.71

$228.42

-6.00%

-$13.71

$178.83

20.07%

$89.56

139.76%

 

 

 

 

 

Natural Gas & Basis

 

 

 

EOXLive Market Data

 

 

 

Contract

12/13/22

12/12/22

% Change

Change

11/14/22

% Change

12/14/21

% Change

 

 

NYMEX Henry Hub

Jan-23

$6.935

$6.587

5.28%

$0.35

$6.30

10.10%

$4.07

70.23%

 

 

Houston Ship Channel

Jan-23

$0.387

$0.542

-28.67%

-$0.16

$0.20

94.52%

$0.25

54.37%

 

 

Chicago

Jan-23

$1.562

$1.497

-4.13%

$0.06

$0.93

67.19%

$0.35

344.39%

 

 

Waha

Jan-23

$0.541

$0.534

1.37%

$0.01

-$0.72

-175.20%

-$0.20

-368.64%

 

 

Algonquin

Jan-23

$25.503

$28.548

-10.67%

-$3.05

$18.98

34.35%

$9.85

158.99%

 

 

Aeco

Jan-23

-$1.893

-$2.037

-7.06%

$0.14

-$1.95

-2.84%

-$1.18

60.94%

 

 

Socal

Jan-23

$14.330

$29.399

-51.26%

-$15.07

$2.27

530.88%

$0.96

1397.36%

 

 

 

 

 

Natural Gas Liquids

 

 

 

EOXLive Market Data

 

 

 

Contract

12/13/22

12/12/22

% Change

Change

11/14/22

% Change

12/14/21

% Change

 

 

Mt. Belvieu Propane LST

Jan-23

$0.748

$0.715

4.73%

$0.03

$0.90

-16.73%

$0.90

-16.89%

 

 

Mt. Belvieu Propane non LST

Jan-23

$0.745

$0.730

2.05%

$0.01

$0.90

-17.10%

$0.89

-16.08%

 

 

Mt. Belview Ethane

Jan-23

$0.378

$0.353

7.05%

$0.02

$0.43

-11.38%

$0.30

26.55%

 

 

Mt. Belview Nat. Gasoline

Jan-23

$1.429

$1.382

3.42%

$0.05

$1.67

-14.56%

$1.47

-2.81%

 

 

Mt. Belvieu Butane LST

Jan-23

$0.894

$0.870

2.73%

$0.02

$1.02

-12.53%

$1.00

-10.56%

 

 

Conway Propane

Jan-23

$0.767

$0.758

1.32%

$0.01

$0.95

-19.22%

$0.94

-18.14%

 

 

Conway Nat. Gasoline

Jan-23

$1.434

$1.398

2.59%

$0.04

$1.71

-16.12%

$1.48

-3.16%

 

 

 

 

Crude Oil

 

 

 

EOXLive Market Data

 

 

 

Contract

12/13/22

12/12/22

% Change

Change

11/14/22

% Change

12/14/21

% Change

 

 

WTI

Feb-23

$75.44

$73.28

2.86%

$2.16

$84.36

-10.57%

$66.86

12.83%

 

 

Brent

Feb-23

$80.68

$77.99

3.33%

$2.69

$91.82

-12.13%

$70.36

14.67%

 

 

WCS

Feb-23

-$29.03

-$24.72

14.87%

-$4.32

-$26.70

8.74%

-$14.80

96.16%

 

 

LLS

Feb-23

$76.83

$74.99

2.40%

$1.84

$85.69

-10.33%

$69.84

10.02%

 

 

Mars

Feb-23

$70.26

$68.00

3.22%

$2.26

$79.14

-11.23%

$66.87

5.07%

 

 

Sour

Feb-23

$69.67

$67.40

3.25%

$2.27

$80.30

-13.24%

$66.17

5.29%

 

 

ESPO

Feb-23

$78.04

$74.88

4.05%

$3.16

$86.52

-9.80%

$70.85

10.15%

 

 

 

 

Refined Products

 

 

 

EOXLive Market Data

 

 

 

Contract

12/13/22

12/12/22

% Change

Change

11/14/22

% Change

12/14/21

% Change

 

 

NY Heating Oil

Jan-23

$3.10

$2.96

4.63%

$0.14

$3.43

-9.79%

$2.14

44.34%

 

 

NY Gasoline

Jan-23

$2.17

$2.08

4.29%

$0.09

$2.47

-12.34%

$1.91

13.34%

 

 

GC Gasoline

Jan-23

$2.07

$1.98

4.50%

$0.09

$2.37

-12.86%

$1.81

14.08%

 

 

GC Jet

Jan-23

$2.77

$2.66

3.86%

$0.10

$2.98

-7.21%

$2.09

32.38%

 

 

Chicago Ethanol

Jan-23

$2.18

$2.17

0.51%

$0.01

$2.26

-3.46%

$1.98

10.23%

 

 

Rotterdam Gasoil

Jan-23

$839.17

$796.51

5.36%

$42.66

$918.18

-8.60%

$571.82

46.75%

 

 

Singapore Jet Kero

Jan-23

$108.07

$97.88

10.42%

$10.20

$119.64

-9.67%

$80.34

34.52%

 

 

 

 

Implied Volatilities

 

 

 

EOXLive Market Data

 

 

 

Contract

12/13/22

12/12/22

% Change

Change

11/14/22

% Change

12/14/21

% Change

 

 

Henry Hub Straddle

Jan-23

107.50%

106.19%

1.23%

1.31%

124.76%

-13.83%

49.61%

116.69%

 

 

Algonquin Straddle

Jan-23

118.29%

119.45%

-0.97%

-1.16%

142.42%

-16.94%

53.41%

121.48%

 

 

Waha Straddle

Jan-23

147.05%

161.49%

-8.94%

-14.44%

151.04%

-2.64%

48.93%

200.53%

 

 

Chicago Straddle

Jan-23

104.33%

119.95%

-13.02%

-15.62%

113.29%

-7.91%

48.96%

113.09%

 

 

PJM West Straddle

Jan-23

167.57%

178.16%

-5.94%

-10.59%

125.83%

33.17%

54.32%

208.49%

 

 

SP – 15 Straddle

Jan-23

0.00%

215.90%

-100.00%

-215.90%

174.24%

-100.00%

24.01%

-100.00%

 

 

Mid. C Straddle

Jan-23

305.50%

490.53%

-37.72%

-185.03%

245.26%

24.56%

33.29%

817.69%

 

 

 

 

Euro Gas and Power/LNG

 

 

EOXLive Market Data

 

 

 

Contract

12/13/22

12/12/22

% Change

Change

11/14/22

% Change

12/14/21

% Change

 

 

Dutch TTF

Jan-23

EUR 137.55

EUR 134.70

2.12%

EUR 2.85

EUR 123.69

11.20%

EUR 72.38

90.04%

 

 

NBP

Jan-23

GBP 343.00

GBP 336.00

2.08%

GBP 7.00

GBP 326.25

5.13%

GBP 190.77

79.80%

 

 

German Base

Jan-23

EUR 342.53

EUR 346.26

-1.08%

-EUR 3.74

EUR 291.76

17.40%

EUR 194.68

75.94%

 

 

UK Base

Jan-23

GBP 398.37

GBP 418.95

-4.91%

-GBP 20.58

GBP 580.84

-31.41%

GBP 189.06

110.71%

 

 

French Base

Jan-23

EUR 491.48

EUR 589.16

-16.58%

-EUR 97.68

EUR 852.32

-42.34%

EUR 211.62

132.25%

 

 

Italian Base

Jan-23

EUR 349.30

EUR 362.77

-3.71%

-EUR 13.47

EUR 350.58

-0.36%

EUR 185.85

87.95%

 

 

JKM LNG

Jan-23

$34.55

$34.33

0.63%

$0.22

$27.53

25.52%

$25.75

34.19%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

Cooling Degree Days

 

 

 

 

 

 

12/10/2022

Week Tot

Dev Norm

Dev L YR

Cum Tot

CumD Norm

CumD L YR

CumD Norm

CumD L YR

 

 

New England

0

0

0

652

235

-4

56.00%

-1.00%

 

 

Middle Atlantic

0

0

0

856

200

-57

30.00%

-6.00%

 

 

E N Central

0

0

0

826

117

-141

17.00%

-15.00%

 

 

W N Central

0

0

0

1,090

163

-28

18.00%

-3.00%

 

 

South Atlantic

12

3

1

2,161

217

-28

11.00%

-1.00%

 

 

E S Central

4

3

4

1,725

179

52

12.00%

3.00%

 

 

W S Central

23

20

3

2,912

469

317

19.00%

12.00%

 

 

Mountain

0

0

0

1,384

141

-17

11.00%

-1.00%

 

 

Pacific

0

-1

0

975

271

69

38.00%

8.00%

 

 

United States

5

3

1

1,436

224

10

18.00%

1.00%

 

 

 

 

Heating Degree Days

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

12/10/2022

Week Tot

Dev Norm

Dev L YR

Cum Tot

CumD Norm

CumD L YR

CumD Norm

CumD L YR

 

 

New England

187

-36

-30

1,429

-268

16

NA

NA

 

 

Middle Atlantic

180

-27

-9

1,305

-178

139

NA

NA

 

 

E N Central

211

-25

-7

1,579

-89

194

NA

NA

 

 

W N Central

250

-12

22

1,749

-66

342

NA

NA

 

 

South Atlantic

82

-31

-9

641

-45

48

NA

NA

 

 

E S Central

80

-67

-21

869

-31

78

NA

NA

 

 

W S Central

36

-70

-8

531

-2

164

NA

NA

 

 

Mountain

193

-8

29

1,471

-32

355

NA

NA

 

 

Pacific

145

23

29

856

-6

153

NA

NA

 

 

United States

145

-25

0

1,091

-70

154

NA

NA

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

Weather Forecast & Seasonal Outlook

 

 

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