Morning Report: Gas * Power * NGL * Crude * Products * Vols — Mar-08-2023

Mar 8, 2023

  

 

 

 

 

 

 

 

 

 

Prices as of 9:30 AM CST

 

 

 

 

 

 

 

Current Price

Previous Settle

% Change

Change

Volume

 

 

Natural Gas

$2.542

$2.687

-5.40%

-$0.145

47,014

 

 

WTI

$76.80

$77.58

-1.01%

-$0.78

151,021

 

 

Brent

$82.74

$83.29

-0.66%

-$0.55

11,073

 

 

ULSD

$2.756

$2.798

-1.47%

-$0.041

8,964

 

 

RBOB

$2.676

$2.701

-0.91%

-$0.024

9,575

 

 

 

 

Spreads

 

 

 

 

 

 

 

Current

Previous

% Change

Change

Contract

 

 

WTI-Brent

$5.78

$5.57

3.77%

$0.21

May-23

 

 

3:2:1 Crack

$35.61

$36.12

-1.42%

-$0.51

Apr-23

 

 

PJM West Spark

$34.06

$33.51

1.62%

$0.54

Apr-23

 

 

 

 

Baker Hughes Rig Count

 

 

 

 

 

 

 

Date

Count

Change

1 Year Chg.

1 Year Date

 

 

U.S.

03/03/23

749

-4

99

03/04/22

 

 

Canada

03/03/23

246

2

29

03/04/22

 

 

International

Feb

915

14

102

Feb

 

 

 

 

CFTC Net Positions

 

 

 

 

 

 

As of 1/31/2023

Open Interest

Total Net Long

Total Net Short

Diff

 

 

PJM West On Peak

96,478

95,976

96,327

-351

 

 

PJM West Off Peak

87,750

87,297

87,608

-311

 

 

Natural Gas Henry Hub

436,516

415,851

425,855

-10,004

 

 

WTI – Light Sweet Crude Futures

154,980

120,158

125,414

-5,256

 

 

Brent Crude Last Day

163,764

155,271

159,264

-3,993

 

 

NYM Ethanol

28,226

27,403

27,641

-238

 

 

Mt Belvieu LDH Propane Swap

148,068

146,228

147,180

-952

 

 

RBOB

314,963

293,477

303,106

-9,629

 

 

HSC Basis

558,418

552,342

549,508

2,834

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

EIA Lower 48 Natural Gas Storage

 

 

 

 

03/02/18

 

 

 

2/24/23

2/17/23

Net Change

% Change

2/25/22

% Change

5 Year Avg.

% Change

 

 

East

451

479

-28

-5.85%

358

25.98%

372

21.11%

 

 

Midwest

544

575

-31

-5.39%

404

34.65%

429

26.81%

 

 

Mountain

99

106

-7

-6.60%

96

3.13%

97

2.27%

 

 

Pacific

99

108

-9

-8.33%

164

-39.63%

172

-42.44%

 

 

South

922

926

-4

-0.43%

620

48.71%

649

42.15%

 

 

    Salt

261

262

-1

-0.38%

163

60.12%

184

41.85%

 

 

    Non_Salt

661

664

-3

-0.45%

457

44.64%

465

42.27%

 

 

Total

2,114

2,195

-81

-3.69%

1,643

28.67%

1,719

22.99%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Power Generation Additions/Retirements

 

 

  

 

Front Month Prices

 

 

 

 

 

 

 

 

 

 

 

 

 

Electricity

 

 

 

EOXLive Market Data

 

 

 

Contract

3/7/23

3/6/23

% Change

Change

2/6/23

% Change

3/7/22

% Change

 

 

PJM West On Peak

Apr-23

$39.48

$39.26

0.54%

$0.21

$38.81

1.72%

$48.73

-18.98%

 

 

ERCOT North On Peak

Apr-23

$35.71

$35.63

0.21%

$0.08

$33.93

5.24%

$44.24

-19.29%

 

 

CAISO SP 15 On Peak

Apr-23

$37.51

$38.96

-3.73%

-$1.45

$34.68

8.16%

$27.52

36.30%

 

 

MISO Indiana On Peak

Apr-23

$42.24

$41.73

1.21%

$0.51

$41.93

0.74%

$49.54

-14.75%

 

 

NEISO Mass On Peak

Apr-23

$45.78

$40.39

13.37%

$5.40

$43.94

4.20%

$51.47

-11.05%

 

 

WECC Mid C On Peak

Apr-23

$76.39

$68.19

12.03%

$8.21

$60.40

26.48%

$30.17

153.21%

 

 

NYISO Zone G On Peak

Apr-23

$40.65

$36.60

11.09%

$4.06

$38.84

4.66%

$45.68

-11.01%

 

 

 

 

 

Natural Gas & Basis

 

 

 

EOXLive Market Data

 

 

 

Contract

3/7/23

3/6/23

% Change

Change

2/6/23

% Change

3/7/22

% Change

 

 

NYMEX Henry Hub

Apr-23

$2.687

$2.572

4.47%

$0.12

$2.54

6.00%

$3.61

-25.59%

 

 

Houston Ship Channel

Apr-23

-$0.247

-$0.282

-12.34%

$0.03

-$0.35

-29.72%

-$0.18

38.82%

 

 

Chicago

Apr-23

$0.024

$0.018

-27.05%

$0.01

$0.03

-28.02%

-$0.19

-112.90%

 

 

Waha

Apr-23

-$1.471

-$1.287

-14.26%

-$0.18

-$1.61

-8.43%

-$2.11

-30.43%

 

 

Algonquin

Apr-23

$0.566

$0.615

-8.01%

-$0.05

$0.55

2.06%

$0.54

4.47%

 

 

Aeco

Apr-23

-$0.471

-$0.583

-19.14%

$0.11

-$0.47

-0.25%

-$0.85

-44.66%

 

 

Socal

Apr-23

$0.532

$0.617

-13.72%

-$0.08

$0.37

45.05%

-$0.45

-217.77%

 

 

 

 

 

Natural Gas Liquids

 

 

 

EOXLive Market Data

 

 

 

Contract

3/7/23

3/6/23

% Change

Change

2/6/23

% Change

3/7/22

% Change

 

 

Mt. Belvieu Propane LST

Apr-23

$0.855

$0.905

-5.50%

-$0.05

$0.80

6.90%

$1.12

-23.65%

 

 

Mt. Belvieu Propane non LST

Apr-23

$0.886

$0.900

-1.52%

-$0.01

$0.80

11.14%

$1.12

-20.94%

 

 

Mt. Belview Ethane

Apr-23

$0.237

$0.256

-7.55%

-$0.02

$0.23

2.57%

$0.33

-29.10%

 

 

Mt. Belview Nat. Gasoline

Apr-23

$1.692

$1.682

0.55%

$0.01

$1.55

8.84%

$2.03

-16.56%

 

 

Mt. Belvieu Butane LST

Apr-23

$1.048

$1.049

-0.08%

$0.00

$0.98

6.68%

$1.35

-22.18%

 

 

Conway Propane

Apr-23

$0.840

$0.865

-2.89%

-$0.03

$0.76

10.90%

$1.12

-24.88%

 

 

Conway Nat. Gasoline

Apr-23

$1.691

$1.694

-0.15%

$0.00

$1.57

7.70%

$2.02

-16.14%

 

 

 

 

Crude Oil

 

 

 

EOXLive Market Data

 

 

 

Contract

3/7/23

3/6/23

% Change

Change

2/6/23

% Change

3/7/22

% Change

 

 

WTI

Apr-23

$77.58

$80.46

-3.71%

-$2.88

$74.47

4.18%

$91.57

-15.28%

 

 

Brent

Apr-23

$83.53

$86.45

-3.51%

-$2.93

$80.99

3.13%

$98.14

-14.89%

 

 

WCS

Apr-23

-$15.35

-$15.10

1.60%

-$0.24

-$22.13

-30.66%

-$13.28

15.53%

 

 

LLS

Apr-23

$80.59

$81.93

-1.66%

-$1.34

$77.84

3.53%

$92.81

-13.17%

 

 

Mars

Apr-23

$76.23

$76.89

-0.87%

-$0.66

$72.89

4.58%

$90.74

-15.99%

 

 

Sour

Apr-23

$77.42

$78.23

-1.05%

-$0.81

$72.27

7.12%

$92.15

-15.99%

 

 

ESPO

Apr-23

$82.20

$83.41

-1.47%

-$1.21

$78.28

5.01%

$97.04

-15.29%

 

 

 

 

Refined Products

 

 

 

EOXLive Market Data

 

 

 

Contract

3/7/23

3/6/23

% Change

Change

2/6/23

% Change

3/7/22

% Change

 

 

NY Heating Oil

Apr-23

$2.80

$2.89

-3.12%

-$0.09

$2.72

2.79%

$2.94

-4.73%

 

 

NY Gasoline

Apr-23

$2.78

$2.80

-0.43%

-$0.01

$2.56

8.71%

$2.80

-0.64%

 

 

GC Gasoline

Apr-23

$2.68

$2.70

-0.45%

-$0.01

$2.46

9.06%

$2.70

-0.67%

 

 

GC Jet

Apr-23

$2.64

$2.62

0.76%

$0.02

$2.47

7.13%

$2.67

-1.09%

 

 

Chicago Ethanol

Apr-23

$2.19

$2.20

-0.59%

-$0.01

$2.22

-1.35%

$2.24

-2.36%

 

 

Rotterdam Gasoil

Apr-23

$766.22

$790.37

-3.05%

-$24.14

$742.09

3.25%

$815.78

-6.07%

 

 

Singapore Jet Kero

Apr-23

$106.08

$106.89

-0.76%

-$0.81

$101.64

4.36%

$118.79

-10.70%

 

 

 

 

Implied Volatilities

 

 

 

EOXLive Market Data

 

 

 

Contract

3/7/23

3/6/23

% Change

Change

2/6/23

% Change

3/7/22

% Change

 

 

Henry Hub Straddle

Apr-23

76.42%

91.25%

-16.25%

-14.83%

87.50%

-12.66%

45.24%

68.92%

 

 

Algonquin Straddle

Apr-23

57.80%

73.52%

-21.38%

-15.72%

94.24%

-38.67%

52.98%

9.10%

 

 

Waha Straddle

Apr-23

135.40%

156.98%

-13.75%

-21.58%

370.12%

-63.42%

94.09%

43.90%

 

 

Chicago Straddle

Apr-23

76.22%

95.24%

-19.97%

-19.02%

91.09%

-16.32%

47.79%

59.49%

 

 

PJM West Straddle

Apr-23

70.90%

76.57%

-7.40%

-5.67%

64.15%

10.52%

43.81%

61.84%

 

 

SP – 15 Straddle

Apr-23

180.07%

131.10%

37.35%

48.97%

66.50%

170.78%

21.62%

732.89%

 

 

Mid. C Straddle

Apr-23

179.50%

183.79%

-2.33%

-4.29%

130.92%

37.11%

34.16%

425.47%

 

 

 

 

Euro Gas and Power/LNG

 

 

EOXLive Market Data

 

 

 

Contract

3/7/23

3/6/23

% Change

Change

2/6/23

% Change

3/7/22

% Change

 

 

Dutch TTF

Apr-23

EUR 43.65

EUR 43.20

1.04%

EUR 0.45

EUR 58.45

-25.32%

EUR 91.84

-52.47%

 

 

NBP

Apr-23

GBP 110.25

GBP 107.75

2.32%

GBP 2.50

GBP 147.00

-25.00%

GBP 224.12

-50.81%

 

 

German Base

Apr-23

EUR 103.80

EUR 105.50

-1.61%

-EUR 1.70

EUR 135.70

-23.51%

EUR 158.80

-34.64%

 

 

UK Base

Apr-23

GBP 120.35

GBP 115.42

4.27%

GBP 4.93

GBP 153.70

-21.70%

GBP 150.89

-20.24%

 

 

French Base

Apr-23

EUR 117.31

EUR 108.20

8.41%

EUR 9.10

EUR 153.02

-23.34%

EUR 137.86

-14.91%

 

 

Italian Base

Apr-23

EUR 127.53

EUR 129.41

-1.45%

-EUR 1.88

EUR 166.14

-23.24%

EUR 160.16

-20.37%

 

 

JKM LNG

Apr-23

$13.90

$13.34

4.17%

$0.56

$16.57

-16.16%

$25.90

-46.36%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

Cooling Degree Days

 

 

 

 

 

 

03/04/2023

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

18

9

7

91

22

27

NA

NA

 

 

E S Central

6

3

6

17

4

13

NA

NA

 

 

W S Central

21

13

18

57

22

36

NA

NA

 

 

Mountain

0

-1

-1

0

-5

-1

NA

NA

 

 

Pacific

0

-1

0

0

-3

0

NA

NA

 

 

United States

6

3

4

24

5

10

NA

NA

 

 

 

 

Heating Degree Days

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

03/04/2023

Week Tot

Dev Norm

Dev L YR

Cum Tot

CumD Norm

CumD L YR

CumD Norm

CumD L YR

 

 

New England

245

6

-35

4,180

-723

-296

-15.00%

-7.00%

 

 

Middle Atlantic

198

-22

-33

3,783

-673

-175

-15.00%

-4.00%

 

 

E N Central

179

-54

-43

4,373

-593

-118

-12.00%

-3.00%

 

 

W N Central

212

-21

5

5,033

-261

230

-5.00%

5.00%

 

 

South Atlantic

53

-54

-33

1,907

-386

-34

-17.00%

-2.00%

 

 

E S Central

45

-85

-66

2,437

-489

-96

-17.00%

-4.00%

 

 

W S Central

31

-49

-64

1,758

-199

144

-10.00%

9.00%

 

 

Mountain

214

51

65

4,132

205

616

5.00%

18.00%

 

 

Pacific

170

68

81

2,539

225

381

10.00%

18.00%

 

 

United States

140

-20

-14

3,158

-320

60

-9.00%

2.00%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

Weather Forecast & Seasonal Outlook

 

 

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