Morning Report: Gas * Power * NGL * Crude * Products * Vols — Mar-13-2023

Mar 13, 2023

  

 

 

 

 

 

 

 

 

 

Prices as of 9:05 AM CST

 

 

 

 

 

 

 

Current Price

Previous Settle

% Change

Change

Volume

 

 

Natural Gas

$2.558

$2.430

5.27%

$0.128

48,079

 

 

WTI

$74.08

$76.68

-3.39%

-$2.60

221,427

 

 

Brent

$80.32

$82.78

-2.97%

-$2.46

20,109

 

 

ULSD

$2.743

$2.773

-1.10%

-$0.030

18,660

 

 

RBOB

$2.571

$2.646

-2.85%

-$0.075

11,984

 

 

 

 

Spreads

 

 

 

 

 

 

 

Current

Previous

% Change

Change

Contract

 

 

WTI-Brent

$5.23

$6.00

-12.83%

-$0.77

May-23

 

 

3:2:1 Crack

$35.02

$35.14

-0.33%

-$0.12

Apr-23

 

 

PJM West Spark

$31.30

$32.34

-3.22%

-$1.04

Apr-23

 

 

 

 

Baker Hughes Rig Count

 

 

 

 

 

 

 

Date

Count

Change

1 Year Chg.

1 Year Date

 

 

U.S.

03/10/23

746

-3

83

03/11/22

 

 

Canada

03/10/23

223

-23

17

03/11/22

 

 

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

 

 

 

 

03/09/18

 

 

 

3/3/23

2/24/23

Net Change

% Change

3/4/22

% Change

5 Year Avg.

% Change

 

 

East

416

451

-35

-7.76%

317

31.23%

334

24.63%

 

 

Midwest

515

544

-29

-5.33%

364

41.48%

394

30.71%

 

 

Mountain

92

99

-7

-7.07%

93

-1.08%

92

-0.43%

 

 

Pacific

81

99

-18

-18.18%

162

-50.00%

168

-51.67%

 

 

South

925

922

3

0.33%

582

58.93%

627

47.62%

 

 

    Salt

261

261

0

0.00%

151

72.85%

175

48.80%

 

 

    Non_Salt

664

661

3

0.45%

431

54.06%

451

47.16%

 

 

Total

2,030

2,114

-84

-3.97%

1,519

33.64%

1,615

25.73%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Power Generation Additions/Retirements

 

 

  

 

Front Month Prices

 

 

 

 

 

 

 

 

 

 

 

 

 

Electricity

 

 

 

EOXLive Market Data

 

 

 

Contract

3/10/23

3/9/23

% Change

Change

2/9/23

% Change

3/10/22

% Change

 

 

PJM West On Peak

Apr-23

$36.77

$37.54

-2.05%

-$0.77

$38.09

-3.46%

$47.66

-22.85%

 

 

ERCOT North On Peak

Apr-23

$33.14

$33.69

-1.61%

-$0.54

$33.65

-1.51%

$41.22

-19.60%

 

 

CAISO SP 15 On Peak

Apr-23

$38.74

$37.23

4.07%

$1.51

$35.74

8.40%

$27.25

42.19%

 

 

MISO Indiana On Peak

Apr-23

$38.87

$39.62

-1.89%

-$0.75

$41.55

-6.46%

$48.71

-20.21%

 

 

NEISO Mass On Peak

Apr-23

$42.99

$43.63

-1.48%

-$0.64

$43.41

-0.99%

$51.91

-17.19%

 

 

WECC Mid C On Peak

Apr-23

$73.20

$73.25

-0.07%

-$0.05

$61.23

19.54%

$29.68

146.58%

 

 

NYISO Zone G On Peak

Apr-23

$38.65

$39.06

-1.05%

-$0.41

$37.61

2.79%

$42.09

-8.17%

 

 

 

 

 

Natural Gas & Basis

 

 

 

EOXLive Market Data

 

 

 

Contract

3/10/23

3/9/23

% Change

Change

2/9/23

% Change

3/10/22

% Change

 

 

NYMEX Henry Hub

Apr-23

$2.430

$2.543

-4.44%

-$0.11

$2.49

-2.49%

$3.58

-32.14%

 

 

Houston Ship Channel

Apr-23

-$0.273

-$0.246

10.64%

-$0.03

-$0.28

-3.20%

-$0.17

57.70%

 

 

Chicago

Apr-23

$0.030

$0.020

-33.55%

$0.01

$0.04

-31.53%

-$0.18

-117.24%

 

 

Waha

Apr-23

-$1.645

-$1.538

-6.90%

-$0.11

-$1.40

17.41%

-$2.09

-21.38%

 

 

Algonquin

Apr-23

$0.352

$0.433

-18.74%

-$0.08

$0.61

-41.82%

$0.53

-33.15%

 

 

Aeco

Apr-23

-$0.577

-$0.450

28.11%

-$0.13

-$0.44

30.60%

-$0.87

-33.87%

 

 

Socal

Apr-23

$0.870

$0.685

27.03%

$0.19

$0.37

134.07%

-$0.47

-283.42%

 

 

 

 

 

Natural Gas Liquids

 

 

 

EOXLive Market Data

 

 

 

Contract

3/10/23

3/9/23

% Change

Change

2/9/23

% Change

3/10/22

% Change

 

 

Mt. Belvieu Propane LST

Apr-23

$0.807

$0.815

-0.92%

-$0.01

$0.84

-4.44%

$1.00

-19.60%

 

 

Mt. Belvieu Propane non LST

Apr-23

$0.810

$0.822

-1.52%

-$0.01

$0.84

-3.86%

$1.04

-21.92%

 

 

Mt. Belview Ethane

Apr-23

$0.244

$0.241

0.93%

$0.00

$0.24

2.24%

$0.32

-22.77%

 

 

Mt. Belview Nat. Gasoline

Apr-23

$1.587

$1.607

-1.28%

-$0.02

$1.69

-6.08%

$1.86

-14.59%

 

 

Mt. Belvieu Butane LST

Apr-23

$0.972

$0.996

-2.40%

-$0.02

$1.07

-9.39%

$1.21

-19.73%

 

 

Conway Propane

Apr-23

$0.765

$0.770

-0.62%

$0.00

$0.81

-5.57%

$1.04

-26.79%

 

 

Conway Nat. Gasoline

Apr-23

$1.598

$1.609

-0.70%

-$0.01

$1.73

-7.59%

$1.85

-13.51%

 

 

 

 

Crude Oil

 

 

 

EOXLive Market Data

 

 

 

Contract

3/10/23

3/9/23

% Change

Change

2/9/23

% Change

3/10/22

% Change

 

 

WTI

Apr-23

$76.68

$75.72

1.25%

$0.96

$78.27

-2.03%

$82.91

-7.51%

 

 

Brent

Apr-23

$83.06

$81.83

1.49%

$1.24

$84.50

-1.70%

$88.35

-5.98%

 

 

WCS

Apr-23

-$15.03

-$15.41

-2.56%

$0.39

-$18.22

-17.51%

-$12.28

22.37%

 

 

LLS

Apr-23

$79.54

$80.18

-0.80%

-$0.64

$81.32

-2.19%

$84.50

-5.87%

 

 

Mars

Apr-23

$74.97

$73.78

1.59%

$1.19

$75.45

-0.63%

$80.80

-7.21%

 

 

Sour

Apr-23

$76.58

$75.06

1.98%

$1.51

$75.97

0.80%

$83.40

-8.18%

 

 

ESPO

Apr-23

$81.71

$80.40

1.60%

$1.31

$81.01

0.86%

$84.59

-3.41%

 

 

 

 

Refined Products

 

 

 

EOXLive Market Data

 

 

 

Contract

3/10/23

3/9/23

% Change

Change

2/9/23

% Change

3/10/22

% Change

 

 

NY Heating Oil

Apr-23

$2.78

$2.67

3.89%

$0.10

$2.79

-0.39%

$2.60

6.85%

 

 

NY Gasoline

Apr-23

$2.64

$2.60

1.27%

$0.03

$2.64

-0.04%

$2.46

7.28%

 

 

GC Gasoline

Apr-23

$2.54

$2.50

1.32%

$0.03

$2.54

-0.04%

$2.36

7.59%

 

 

GC Jet

Apr-23

$2.44

$2.53

-3.52%

-$0.09

$2.50

-2.52%

$2.44

-0.08%

 

 

Chicago Ethanol

Apr-23

$2.19

$2.17

1.15%

$0.02

$2.20

-0.23%

$2.25

-2.53%

 

 

Rotterdam Gasoil

Apr-23

$740.74

$740.66

0.01%

$0.08

$754.72

-1.85%

$690.45

7.28%

 

 

Singapore Jet Kero

Apr-23

$101.10

$104.20

-2.97%

-$3.10

$105.14

-3.84%

$102.60

-1.46%

 

 

 

 

Implied Volatilities

 

 

 

EOXLive Market Data

 

 

 

Contract

3/10/23

3/9/23

% Change

Change

2/9/23

% Change

3/10/22

% Change

 

 

Henry Hub Straddle

Apr-23

85.25%

81.47%

4.64%

3.78%

91.11%

-6.43%

38.82%

119.60%

 

 

Algonquin Straddle

Apr-23

81.95%

70.86%

15.65%

11.09%

89.05%

-7.97%

45.78%

79.01%

 

 

Waha Straddle

Apr-23

169.01%

144.07%

17.31%

24.94%

334.68%

-49.50%

97.42%

73.49%

 

 

Chicago Straddle

Apr-23

84.82%

80.98%

4.74%

3.84%

91.84%

-7.64%

41.22%

105.77%

 

 

PJM West Straddle

Apr-23

76.69%

75.11%

2.10%

1.58%

68.96%

11.21%

44.48%

72.41%

 

 

SP – 15 Straddle

Apr-23

101.02%

100.92%

0.10%

0.10%

83.11%

21.55%

22.08%

357.52%

 

 

Mid. C Straddle

Apr-23

186.11%

182.55%

1.95%

3.56%

129.94%

43.23%

34.49%

439.61%

 

 

 

 

Euro Gas and Power/LNG

 

 

EOXLive Market Data

 

 

 

Contract

3/10/23

3/9/23

% Change

Change

2/9/23

% Change

3/10/22

% Change

 

 

Dutch TTF

Apr-23

EUR 53.85

EUR 47.67

12.97%

EUR 6.18

EUR 53.87

-0.03%

EUR 70.91

-24.05%

 

 

NBP

Apr-23

GBP 137.17

GBP 119.99

14.32%

GBP 17.18

GBP 134.40

2.06%

GBP 204.15

-32.81%

 

 

German Base

Apr-23

EUR 115.75

EUR 103.79

11.52%

EUR 11.96

EUR 130.50

-11.30%

EUR 160.77

-28.00%

 

 

UK Base

Apr-23

GBP 151.78

GBP 130.87

15.98%

GBP 20.91

GBP 142.32

6.65%

GBP 121.71

24.71%

 

 

French Base

Apr-23

EUR 140.38

EUR 118.04

18.92%

EUR 22.34

EUR 147.08

-4.55%

EUR 140.79

-0.29%

 

 

Italian Base

Apr-23

EUR 153.63

EUR 125.63

22.29%

EUR 28.00

EUR 154.39

-0.49%

EUR 159.49

-3.67%

 

 

JKM LNG

Apr-23

$15.00

$13.63

10.12%

$1.38

$16.13

-6.98%

$23.92

-37.26%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

Cooling Degree Days

 

 

 

 

 

 

03/11/2023

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

-1

0

0

-1

0

NA

NA

 

 

W N Central

0

-1

0

0

-1

0

NA

NA

 

 

South Atlantic

17

7

-5

108

29

21

NA

NA

 

 

E S Central

1

-3

-3

18

1

10

NA

NA

 

 

W S Central

23

14

13

80

36

49

NA

NA

 

 

Mountain

0

-1

0

0

-6

-1

NA

NA

 

 

Pacific

0

-1

0

0

-4

0

NA

NA

 

 

United States

6

3

0

30

8

10

NA

NA

 

 

 

 

Heating Degree Days

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

03/11/2023

Week Tot

Dev Norm

Dev L YR

Cum Tot

CumD Norm

CumD L YR

CumD Norm

CumD L YR

 

 

New England

202

-23

8

4,382

-746

-288

-15.00%

-6.00%

 

 

Middle Atlantic

195

-11

30

3,978

-684

-146

-15.00%

-4.00%

 

 

E N Central

190

-26

-6

4,564

-618

-124

-12.00%

-3.00%

 

 

W N Central

209

-7

-54

5,242

-268

176

-5.00%

3.00%

 

 

South Atlantic

76

-21

21

1,983

-407

-13

-17.00%

-1.00%

 

 

E S Central

80

-37

2

2,517

-526

-93

-17.00%

-4.00%

 

 

W S Central

32

-39

-59

1,789

-239

85

-12.00%

5.00%

 

 

Mountain

180

26

-44

4,312

231

572

6.00%

15.00%

 

 

Pacific

147

48

23

2,686

273

404

11.00%

18.00%

 

 

United States

140

-9

-2

3,297

-330

58

-9.00%

2.00%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

Weather Forecast & Seasonal Outlook

 

 

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