Morning Report: Gas * Power * NGL * Crude * Products * Vols — Feb-24-2023

Feb 24, 2023

  

 

 

 

 

 

 

 

 

 

Prices as of 8:44 AM CST

 

 

 

 

 

 

 

Current Price

Previous Settle

% Change

Change

Volume

 

 

Natural Gas

$2.427

$2.314

4.88%

$0.113

1,180

 

 

WTI

$74.30

$75.39

-1.45%

-$1.09

114,718

 

 

Brent

$81.31

$82.21

-1.09%

-$0.90

2,817

 

 

ULSD

$2.695

$2.708

-0.50%

-$0.014

1,743

 

 

RBOB

$2.330

$2.380

-2.08%

-$0.049

2,221

 

 

 

 

Spreads

 

 

 

 

 

 

 

Current

Previous

% Change

Change

Contract

 

 

WTI-Brent

$6.97

$6.82

2.20%

$0.15

Apr-23

 

 

3:2:1 Crack

$34.28

$34.66

-1.09%

-$0.38

Apr-23

 

 

PJM West Spark

$33.08

$31.48

5.08%

$1.60

Mar-23

 

 

 

 

Baker Hughes Rig Count

 

 

 

 

 

 

 

Date

Count

Change

1 Year Chg.

1 Year Date

 

 

U.S.

02/17/23

760

-1

115

02/18/22

 

 

Canada

02/17/23

248

-2

28

02/18/22

 

 

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

 

 

 

 

02/23/18

 

 

 

2/17/23

2/10/23

Net Change

% Change

2/18/22

% Change

5 Year Avg.

% Change

 

 

East

479

498

-19

-3.82%

396

20.96%

408

17.40%

 

 

Midwest

575

601

-26

-4.33%

450

27.78%

466

23.28%

 

 

Mountain

106

114

-8

-7.02%

105

0.95%

103

2.51%

 

 

Pacific

108

122

-14

-11.48%

176

-38.64%

180

-40.07%

 

 

South

926

931

-5

-0.54%

655

41.37%

671

38.00%

 

 

    Salt

262

262

0

0.00%

168

55.95%

189

38.77%

 

 

    Non_Salt

664

670

-6

-0.90%

487

36.34%

483

37.59%

 

 

Total

2,195

2,266

-71

-3.13%

1,782

23.18%

1,829

20.00%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Power Generation Additions/Retirements

 

 

  

 

Front Month Prices

 

 

 

 

 

 

 

 

 

 

 

 

 

Electricity

 

 

 

EOXLive Market Data

 

 

 

Contract

2/23/23

2/22/23

% Change

Change

1/25/23

% Change

2/23/22

% Change

 

 

PJM West On Peak

Mar-23

$38.24

$36.43

4.96%

$1.81

$43.10

-11.28%

$59.40

-35.63%

 

 

ERCOT North On Peak

Mar-23

$29.15

$28.22

3.32%

$0.94

$37.92

-23.11%

$49.10

-40.63%

 

 

CAISO SP 15 On Peak

Mar-23

$59.87

$54.67

9.51%

$5.20

$50.41

18.76%

$49.42

21.15%

 

 

MISO Indiana On Peak

Mar-23

$38.72

$36.85

5.08%

$1.87

$41.94

-7.68%

$57.23

-32.35%

 

 

NEISO Mass On Peak

Mar-23

$57.83

$55.86

3.53%

$1.97

$64.50

-10.34%

$91.63

-36.89%

 

 

WECC Mid C On Peak

Mar-23

$82.48

$79.01

4.39%

$3.47

$61.53

34.05%

$47.33

74.26%

 

 

NYISO Zone G On Peak

Mar-23

$44.47

$42.56

4.50%

$1.91

$50.66

-12.22%

$78.90

-43.64%

 

 

 

 

 

Natural Gas & Basis

 

 

 

EOXLive Market Data

 

 

 

Contract

2/23/23

2/22/23

% Change

Change

1/25/23

% Change

2/23/22

% Change

 

 

NYMEX Henry Hub

Mar-23

$2.314

$2.174

6.44%

$0.14

$2.91

-20.62%

$4.44

-47.87%

 

 

Houston Ship Channel

Mar-23

-$0.262

-$0.207

26.52%

-$0.05

-$0.40

-34.61%

-$0.18

45.74%

 

 

Chicago

Mar-23

$0.048

$0.127

166.25%

-$0.08

$0.15

-68.09%

-$0.01

-727.63%

 

 

Waha

Mar-23

-$0.863

-$0.891

-3.17%

$0.03

-$1.61

-46.44%

-$1.64

-47.31%

 

 

Algonquin

Mar-23

$2.352

$2.385

-1.38%

-$0.03

$3.20

-26.61%

$5.56

-57.72%

 

 

Aeco

Mar-23

-$0.142

-$0.074

91.89%

-$0.07

-$0.31

-54.06%

-$0.95

-85.01%

 

 

Socal

Mar-23

$2.737

$3.033

-9.79%

-$0.30

$1.77

54.53%

$0.08

3548.67%

 

 

 

 

 

Natural Gas Liquids

 

 

 

EOXLive Market Data

 

 

 

Contract

2/23/23

2/22/23

% Change

Change

1/25/23

% Change

2/23/22

% Change

 

 

Mt. Belvieu Propane LST

Mar-23

$0.810

$0.805

0.61%

$0.00

$0.93

-13.08%

$1.07

-24.42%

 

 

Mt. Belvieu Propane non LST

Mar-23

$0.813

$0.820

-0.92%

-$0.01

$0.94

-13.92%

$1.06

-23.70%

 

 

Mt. Belview Ethane

Mar-23

$0.218

$0.227

-3.88%

-$0.01

$0.25

-13.69%

$0.35

-37.47%

 

 

Mt. Belview Nat. Gasoline

Mar-23

$1.625

$1.629

-0.20%

$0.00

$1.73

-6.27%

$1.78

-8.52%

 

 

Mt. Belvieu Butane LST

Mar-23

$1.094

$1.099

-0.47%

-$0.01

$1.08

1.17%

$1.25

-12.53%

 

 

Conway Propane

Mar-23

$0.778

$0.790

-1.58%

-$0.01

$0.89

-12.99%

$1.08

-27.79%

 

 

Conway Nat. Gasoline

Mar-23

$1.672

$1.654

1.06%

$0.02

$1.84

-9.37%

$1.78

-6.23%

 

 

 

 

Crude Oil

 

 

 

EOXLive Market Data

 

 

 

Contract

2/23/23

2/22/23

% Change

Change

1/25/23

% Change

2/23/22

% Change

 

 

WTI

Apr-23

$75.39

$73.95

1.91%

$1.44

$80.44

-6.28%

$80.22

-6.02%

 

 

Brent

Apr-23

$82.21

$80.60

1.96%

$1.61

$86.19

-4.62%

$84.21

-2.38%

 

 

WCS

Apr-23

-$17.40

-$18.06

-3.82%

$0.66

-$22.55

-22.87%

-$14.78

17.65%

 

 

LLS

Apr-23

$78.77

$76.99

2.25%

$1.78

$82.74

-4.80%

$81.48

-3.33%

 

 

Mars

Apr-23

$73.82

$74.65

-1.12%

-$0.83

$77.26

-4.44%

$77.89

-5.22%

 

 

Sour

Apr-23

$73.60

$72.92

0.92%

$0.68

$77.46

-4.99%

$78.20

-5.88%

 

 

ESPO

Apr-23

$80.44

$80.99

-0.68%

-$0.55

$83.50

-3.66%

$80.63

-0.23%

 

 

 

 

Refined Products

 

 

 

EOXLive Market Data

 

 

 

Contract

2/23/23

2/22/23

% Change

Change

1/25/23

% Change

2/23/22

% Change

 

 

NY Heating Oil

Mar-23

$2.70

$2.71

-0.41%

-$0.01

$3.27

-17.30%

$2.56

5.59%

 

 

NY Gasoline

Mar-23

$2.38

$2.34

1.88%

$0.04

$2.62

-9.26%

$2.35

1.23%

 

 

GC Gasoline

Mar-23

$2.28

$2.24

1.97%

$0.04

$2.52

-9.63%

$2.25

1.29%

 

 

GC Jet

Mar-23

$2.86

$2.56

11.79%

$0.30

$3.93

-27.20%

$2.36

21.56%

 

 

Chicago Ethanol

Mar-23

$2.18

$2.21

-1.22%

-$0.03

$2.15

1.53%

$2.07

5.51%

 

 

Rotterdam Gasoil

Mar-23

$749.48

$750.53

-0.14%

-$1.05

$878.82

-14.72%

$690.21

8.59%

 

 

Singapore Jet Kero

Mar-23

$100.20

$101.82

-1.59%

-$1.62

$116.99

-14.35%

$95.46

4.97%

 

 

 

 

Implied Volatilities

 

 

 

EOXLive Market Data

 

 

 

Contract

2/23/23

2/22/23

% Change

Change

1/25/23

% Change

2/23/22

% Change

 

 

Henry Hub Straddle

Apr-23

83.71%

89.78%

-6.76%

-6.07%

80.35%

4.18%

35.57%

135.34%

 

 

Algonquin Straddle

Apr-23

79.75%

80.65%

-1.12%

-0.90%

67.59%

17.99%

33.62%

137.21%

 

 

Waha Straddle

Apr-23

202.27%

201.81%

0.23%

0.46%

430.82%

-53.05%

81.06%

149.53%

 

 

Chicago Straddle

Apr-23

86.13%

91.94%

-6.32%

-5.81%

83.30%

3.40%

36.31%

137.21%

 

 

PJM West Straddle

Apr-23

72.72%

72.04%

0.94%

0.68%

63.05%

15.34%

44.39%

63.82%

 

 

SP – 15 Straddle

Apr-23

81.41%

139.55%

-41.66%

-58.14%

120.11%

-32.22%

21.91%

271.57%

 

 

Mid. C Straddle

Apr-23

145.89%

139.50%

4.58%

6.39%

130.19%

12.06%

34.88%

318.26%

 

 

 

 

Euro Gas and Power/LNG

 

 

EOXLive Market Data

 

 

 

Contract

2/23/23

2/22/23

% Change

Change

1/25/23

% Change

2/23/22

% Change

 

 

Dutch TTF

Apr-23

EUR 50.46

EUR 49.24

2.47%

EUR 1.22

EUR 59.10

-14.63%

EUR 59.70

-15.49%

 

 

NBP

Apr-23

GBP 124.90

GBP 121.80

2.55%

GBP 3.10

GBP 148.50

-15.89%

GBP 152.50

-18.10%

 

 

German Base

Apr-23

EUR 121.86

EUR 121.25

0.50%

EUR 0.61

EUR 124.29

-1.96%

EUR 135.85

-10.30%

 

 

UK Base

Apr-23

GBP 132.41

GBP 132.39

0.01%

GBP 0.02

GBP 142.69

-7.21%

GBP 123.76

6.98%

 

 

French Base

Apr-23

EUR 134.20

EUR 134.43

-0.17%

-EUR 0.23

EUR 138.00

-2.75%

EUR 137.05

-2.08%

 

 

Italian Base

Apr-23

EUR 143.27

EUR 142.10

0.82%

EUR 1.17

EUR 155.59

-7.92%

EUR 154.75

-7.42%

 

 

JKM LNG

Apr-23

$16.72

$17.43

-4.07%

-$0.71

$19.81

-15.63%

$27.67

-39.57%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

Cooling Degree Days

 

 

 

 

 

 

02/18/2023

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

7

0

-1

53

1

14

NA

NA

 

 

E S Central

1

0

1

3

-5

-1

NA

NA

 

 

W S Central

3

-1

-1

21

-2

10

NA

NA

 

 

Mountain

0

-1

0

0

-3

0

NA

NA

 

 

Pacific

0

0

0

0

-2

0

NA

NA

 

 

United States

2

0

0

12

-1

4

NA

NA

 

 

 

 

Heating Degree Days

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

02/18/2023

Week Tot

Dev Norm

Dev L YR

Cum Tot

CumD Norm

CumD L YR

CumD Norm

CumD L YR

 

 

New England

182

-84

-54

3,696

-714

-265

-16.00%

-7.00%

 

 

Middle Atlantic

158

-89

-72

3,391

-610

-127

-15.00%

-4.00%

 

 

E N Central

201

-65

-76

3,984

-500

-33

-11.00%

-1.00%

 

 

W N Central

244

-25

-55

4,543

-268

265

-6.00%

6.00%

 

 

South Atlantic

86

-41

-21

1,796

-273

21

-13.00%

1.00%

 

 

E S Central

116

-40

-30

2,323

-331

25

-12.00%

1.00%

 

 

W S Central

104

1

6

1,675

-110

280

-6.00%

20.00%

 

 

Mountain

230

46

52

3,704

113

565

3.00%

18.00%

 

 

Pacific

149

40

59

2,211

104

291

5.00%

15.00%

 

 

United States

153

-30

-22

2,866

-281

100

-9.00%

4.00%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

Weather Forecast & Seasonal Outlook

 

 

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