Morning Report: Gas * Power * NGL * Crude * Products * Vols — Feb-15-2023

Feb 15, 2023

  

 

 

 

 

 

 

 

 

 

Prices as of 9:22 AM CST

 

 

 

 

 

 

 

Current Price

Previous Settle

% Change

Change

Volume

 

 

Natural Gas

$2.529

$2.567

-1.48%

-$0.038

40,408

 

 

WTI

$78.32

$79.06

-0.94%

-$0.74

107,608

 

 

Brent

$84.84

$85.58

-0.86%

-$0.74

9,460

 

 

ULSD

$2.877

$2.940

-2.13%

-$0.063

7,536

 

 

RBOB

$2.480

$2.489

-0.36%

-$0.009

6,115

 

 

 

 

Spreads

 

 

 

 

 

 

 

Current

Previous

% Change

Change

Contract

 

 

WTI-Brent

$6.33

$6.34

-0.16%

-$0.01

Apr-23

 

 

3:2:1 Crack

$36.30

$36.91

-1.65%

-$0.61

Mar-23

 

 

PJM West Spark

$33.88

$31.20

8.60%

$2.68

Mar-23

 

 

 

 

Baker Hughes Rig Count

 

 

 

 

 

 

 

Date

Count

Change

1 Year Chg.

1 Year Date

 

 

U.S.

02/10/23

761

2

126

02/11/22

 

 

Canada

02/10/23

250

1

31

02/11/22

 

 

International

Jan

901

1

60

Jan

 

 

 

 

CFTC Net Positions

 

 

 

 

 

 

As of 1/24/2023

Open Interest

Total Net Long

Total Net Short

Diff

 

 

PJM West On Peak

96,035

95,644

95,871

-227

 

 

PJM West Off Peak

87,641

87,239

87,353

-114

 

 

Natural Gas Henry Hub

451,692

429,931

441,012

-11,081

 

 

WTI – Light Sweet Crude Futures

147,592

110,044

113,781

-3,737

 

 

Brent Crude Last Day

160,969

152,193

155,194

-3,001

 

 

NYM Ethanol

25,088

24,363

24,610

-247

 

 

Mt Belvieu LDH Propane Swap

139,408

138,186

138,760

-574

 

 

RBOB

318,554

295,300

304,258

-8,958

 

 

HSC Basis

539,877

535,221

531,339

3,882

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

EIA Lower 48 Natural Gas Storage

 

 

 

 

02/09/18

 

 

 

2/3/23

1/27/23

Net Change

% Change

2/4/22

% Change

5 Year Avg.

% Change

 

 

East

529

578

-49

-8.48%

485

9.07%

492

7.56%

 

 

Midwest

641

708

-67

-9.46%

552

16.12%

574

11.59%

 

 

Mountain

120

132

-12

-9.09%

121

-0.83%

123

-2.28%

 

 

Pacific

124

140

-16

-11.43%

181

-31.49%

202

-38.49%

 

 

South

951

1,025

-74

-7.22%

763

24.64%

785

21.12%

 

 

    Salt

271

297

-26

-8.75%

207

30.92%

233

16.51%

 

 

    Non_Salt

680

728

-48

-6.59%

556

22.30%

553

23.05%

 

 

Total

2,366

2,583

-217

-8.40%

2,101

12.61%

2,176

8.74%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Power Generation Additions/Retirements

 

 

  

 

Front Month Prices

 

 

 

 

 

 

 

 

 

 

 

 

 

Electricity

 

 

 

EOXLive Market Data

 

 

 

Contract

2/14/23

2/13/23

% Change

Change

1/17/23

% Change

2/14/22

% Change

 

 

PJM West On Peak

Mar-23

$39.30

$36.69

7.11%

$2.61

$53.58

-26.64%

$55.02

-28.56%

 

 

ERCOT North On Peak

Mar-23

$33.64

$32.03

5.02%

$1.61

$43.83

-23.25%

$46.02

-26.90%

 

 

CAISO SP 15 On Peak

Mar-23

$45.75

$43.11

6.12%

$2.64

$62.86

-27.22%

$47.82

-4.32%

 

 

MISO Indiana On Peak

Mar-23

$39.19

$36.60

7.08%

$2.59

$51.62

-24.07%

$53.04

-26.10%

 

 

NEISO Mass On Peak

Mar-23

$61.36

$56.24

9.11%

$5.12

$85.80

-28.49%

$87.79

-30.10%

 

 

WECC Mid C On Peak

Mar-23

$66.27

$61.13

8.41%

$5.14

$72.24

-8.26%

$45.64

45.21%

 

 

NYISO Zone G On Peak

Mar-23

$48.01

$46.34

3.60%

$1.67

$64.25

-25.27%

$71.91

-33.23%

 

 

 

 

 

Natural Gas & Basis

 

 

 

EOXLive Market Data

 

 

 

Contract

2/14/23

2/13/23

% Change

Change

1/17/23

% Change

2/14/22

% Change

 

 

NYMEX Henry Hub

Mar-23

$2.567

$2.405

6.74%

$0.16

$3.25

-21.09%

$4.15

-38.08%

 

 

Houston Ship Channel

Mar-23

-$0.256

-$0.268

-4.48%

$0.01

-$0.34

-25.09%

-$0.16

57.19%

 

 

Chicago

Mar-23

$0.092

$0.110

19.44%

-$0.02

-$0.09

-207.85%

-$0.01

-1280.77%

 

 

Waha

Mar-23

-$1.057

-$0.985

-7.25%

-$0.07

-$1.72

-38.61%

-$1.29

-18.30%

 

 

Algonquin

Mar-23

$3.197

$2.552

25.27%

$0.64

$4.76

-32.87%

$5.32

-39.87%

 

 

Aeco

Mar-23

-$0.287

-$0.340

-15.61%

$0.05

-$0.46

-37.60%

-$1.06

-72.90%

 

 

Socal

Mar-23

$1.321

$1.174

12.48%

$0.15

$2.12

-37.71%

$0.10

1178.70%

 

 

 

 

 

Natural Gas Liquids

 

 

 

EOXLive Market Data

 

 

 

Contract

2/14/23

2/13/23

% Change

Change

1/17/23

% Change

2/14/22

% Change

 

 

Mt. Belvieu Propane LST

Mar-23

$0.830

$0.835

-0.62%

-$0.01

$0.85

-2.88%

$1.01

-17.93%

 

 

Mt. Belvieu Propane non LST

Mar-23

$0.836

$0.840

-0.47%

$0.00

$0.87

-3.35%

$1.02

-17.84%

 

 

Mt. Belview Ethane

Mar-23

$0.241

$0.250

-3.52%

-$0.01

$0.26

-8.33%

$0.32

-24.61%

 

 

Mt. Belview Nat. Gasoline

Mar-23

$1.678

$1.646

1.98%

$0.03

$1.76

-4.84%

$1.79

-6.23%

 

 

Mt. Belvieu Butane LST

Mar-23

$1.081

$1.087

-0.53%

-$0.01

$1.03

5.00%

$1.19

-9.32%

 

 

Conway Propane

Mar-23

$0.791

$0.793

-0.18%

$0.00

$0.84

-5.64%

$1.06

-25.17%

 

 

Conway Nat. Gasoline

Mar-23

$1.703

$1.691

0.73%

$0.01

$1.78

-4.51%

$1.75

-2.68%

 

 

 

 

Crude Oil

 

 

 

EOXLive Market Data

 

 

 

Contract

2/14/23

2/13/23

% Change

Change

1/17/23

% Change

2/14/22

% Change

 

 

WTI

Apr-23

$79.24

$80.33

-1.38%

-$1.09

$80.65

-1.75%

$79.81

-0.71%

 

 

Brent

Apr-23

$85.58

$86.61

-1.20%

-$1.03

$86.09

-0.59%

$83.71

2.23%

 

 

WCS

Apr-23

-$18.20

-$18.47

-1.48%

$0.27

-$20.88

-12.84%

-$14.16

28.51%

 

 

LLS

Apr-23

$82.12

$83.77

-2.01%

-$1.65

$83.25

-1.36%

$80.17

2.43%

 

 

Mars

Apr-23

$77.41

$77.71

-0.39%

-$0.30

$76.98

0.56%

$76.73

0.89%

 

 

Sour

Apr-23

$77.32

$78.34

-1.32%

-$1.02

$77.56

-0.31%

$76.63

0.90%

 

 

ESPO

Apr-23

$83.18

$83.63

-0.55%

-$0.45

$83.51

-0.40%

$84.51

-1.58%

 

 

 

 

Refined Products

 

 

 

EOXLive Market Data

 

 

 

Contract

2/14/23

2/13/23

% Change

Change

1/17/23

% Change

2/14/22

% Change

 

 

NY Heating Oil

Mar-23

$2.92

$2.89

1.18%

$0.03

$3.19

-8.48%

$2.54

15.25%

 

 

NY Gasoline

Mar-23

$2.49

$2.52

-1.35%

-$0.03

$2.57

-3.15%

$2.30

8.08%

 

 

GC Gasoline

Mar-23

$2.39

$2.42

-1.40%

-$0.03

$2.47

-3.28%

$2.20

8.45%

 

 

GC Jet

Mar-23

$2.70

$2.59

4.32%

$0.11

$2.83

-4.32%

$2.34

15.41%

 

 

Chicago Ethanol

Mar-23

$2.17

$2.20

-1.36%

-$0.03

$2.20

-1.36%

$2.00

8.66%

 

 

Rotterdam Gasoil

Mar-23

$798.01

$798.02

0.00%

-$0.02

$839.49

-4.94%

$682.92

16.85%

 

 

Singapore Jet Kero

Mar-23

$107.50

$104.59

2.79%

$2.92

$112.88

-4.76%

$96.33

11.60%

 

 

 

 

Implied Volatilities

 

 

 

EOXLive Market Data

 

 

 

Contract

2/14/23

2/13/23

% Change

Change

1/17/23

% Change

2/14/22

% Change

 

 

Henry Hub Straddle

Apr-23

85.39%

95.59%

-10.67%

-10.20%

88.74%

-3.78%

36.80%

132.04%

 

 

Algonquin Straddle

Apr-23

80.80%

93.21%

-13.31%

-12.41%

60.07%

34.51%

29.97%

169.60%

 

 

Waha Straddle

Apr-23

285.30%

324.45%

-12.07%

-39.15%

480.99%

-40.68%

63.90%

346.48%

 

 

Chicago Straddle

Apr-23

87.50%

97.17%

-9.95%

-9.67%

87.85%

-0.40%

37.44%

133.71%

 

 

PJM West Straddle

Apr-23

71.92%

75.28%

-4.46%

-3.36%

66.97%

7.39%

41.06%

75.16%

 

 

SP – 15 Straddle

Apr-23

110.51%

82.70%

33.63%

27.81%

187.17%

-40.96%

22.02%

401.86%

 

 

Mid. C Straddle

Apr-23

135.47%

138.67%

-2.31%

-3.20%

120.76%

12.18%

34.54%

292.21%

 

 

 

 

Euro Gas and Power/LNG

 

 

EOXLive Market Data

 

 

 

Contract

2/14/23

2/13/23

% Change

Change

1/17/23

% Change

2/14/22

% Change

 

 

Dutch TTF

Apr-23

EUR 52.90

EUR 51.90

1.93%

EUR 1.00

EUR 60.65

-12.78%

EUR 51.82

2.08%

 

 

NBP

Apr-23

GBP 130.96

GBP 129.50

1.13%

GBP 1.46

GBP 151.51

-13.56%

GBP 131.02

-0.04%

 

 

German Base

Apr-23

EUR 127.45

EUR 127.27

0.14%

EUR 0.17

EUR 144.50

-11.80%

EUR 126.76

0.54%

 

 

UK Base

Apr-23

GBP 138.04

GBP 132.53

4.16%

GBP 5.52

GBP 148.23

-6.87%

GBP 116.22

18.78%

 

 

French Base

Apr-23

EUR 144.78

EUR 143.65

0.79%

EUR 1.13

EUR 154.42

-6.24%

EUR 123.90

16.85%

 

 

Italian Base

Apr-23

EUR 156.11

EUR 147.22

6.04%

EUR 8.90

EUR 171.50

-8.97%

EUR 140.44

11.16%

 

 

JKM LNG

Apr-23

$18.02

$17.53

2.78%

$0.49

$18.02

-0.04%

$28.26

-36.25%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

Cooling Degree Days

 

 

 

 

 

 

02/11/2023

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

0

0

NA

NA

 

 

W N Central

0

0

0

0

0

0

NA

NA

 

 

South Atlantic

10

3

7

46

1

15

NA

NA

 

 

E S Central

0

0

0

2

-6

-2

NA

NA

 

 

W S Central

1

-3

1

18

-2

11

NA

NA

 

 

Mountain

0

-1

0

0

-2

0

NA

NA

 

 

Pacific

0

0

0

0

-2

0

NA

NA

 

 

United States

2

1

1

11

0

4

NA

NA

 

 

 

 

Heating Degree Days

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

02/11/2023

Week Tot

Dev Norm

Dev L YR

Cum Tot

CumD Norm

CumD L YR

CumD Norm

CumD L YR

 

 

New England

226

-50

-29

3,514

-630

-211

NA

NA

 

 

Middle Atlantic

197

-59

-45

3,234

-520

-55

NA

NA

 

 

E N Central

210

-69

-60

3,784

-434

43

NA

NA

 

 

W N Central

232

-54

-20

4,299

-243

319

NA

NA

 

 

South Atlantic

85

-51

-48

1,711

-231

42

NA

NA

 

 

E S Central

110

-58

-64

2,208

-290

56

NA

NA

 

 

W S Central

94

-21

-34

1,571

-112

274

NA

NA

 

 

Mountain

206

12

27

3,474

66

513

NA

NA

 

 

Pacific

117

3

46

2,062

63

233

NA

NA

 

 

United States

154

-39

-27

2,713

-250

122

NA

NA

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

Weather Forecast & Seasonal Outlook

 

 

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