Morning Report: Gas * Power * NGL * Crude * Products * Vols — May-01-2023

May 1, 2023

  

 

 

 

 

 

 

 

 

 

Prices as of 8:35 AM CST

 

 

 

 

 

 

 

Current Price

Previous Settle

% Change

Change

Volume

 

 

Natural Gas

$2.367

$2.410

-1.78%

-$0.043

26,953

 

 

WTI

$75.37

$76.78

-1.84%

-$1.41

74,161

 

 

Brent

$78.99

$79.54

-0.69%

-$0.55

3,126

 

 

ULSD

$2.345

$2.379

-1.43%

-$0.034

6,633

 

 

RBOB

$2.512

$2.578

-2.56%

-$0.066

6,500

 

 

 

 

Spreads

 

 

 

 

 

 

 

Current

Previous

% Change

Change

Contract

 

 

WTI-Brent

$3.79

$3.72

1.88%

$0.07

Jul-23

 

 

3:2:1 Crack

$26.79

$26.40

1.46%

$0.39

Jun-23

 

 

PJM West Spark

NA

NA

NA

NA

May-23

 

 

 

 

Baker Hughes Rig Count

 

 

 

 

 

 

 

Date

Count

Change

1 Year Chg.

1 Year Date

 

 

U.S.

04/28/23

755

2

57

04/28/22

 

 

Canada

04/28/23

93

-12

-2

04/28/22

 

 

International

Mar

930

15

115

Mar

 

 

 

 

CFTC Net Positions

 

 

 

 

 

 

As of 4/25/2023

Open Interest

Total Net Long

Total Net Short

Diff

 

 

PJM West On Peak

100,007

99,573

99,362

211

 

 

PJM West Off Peak

89,390

88,784

88,978

-194

 

 

Natural Gas Henry Hub

459,878

430,482

445,650

-15,168

 

 

WTI – Light Sweet Crude Futures

142,157

107,822

105,376

2,446

 

 

Brent Crude Last Day

143,928

134,460

138,481

-4,021

 

 

NYM Ethanol

36,079

35,556

35,617

-61

 

 

Mt Belvieu LDH Propane Swap

150,186

148,931

149,651

-720

 

 

RBOB

294,281

271,915

278,623

-6,708

 

 

HSC Basis

572,084

569,055

563,922

5,133

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

EIA Lower 48 Natural Gas Storage

 

 

 

 

04/27/18

 

 

 

4/21/23

4/14/23

Net Change

% Change

4/22/22

% Change

5 Year Avg.

% Change

 

 

East

390

363

27

7.44%

238

63.87%

293

33.20%

 

 

Midwest

468

450

18

4.00%

309

51.46%

351

33.49%

 

 

Mountain

90

84

6

7.14%

90

0.00%

95

-4.86%

 

 

Pacific

90

83

7

8.43%

171

-47.37%

189

-52.38%

 

 

South

971

949

22

2.32%

681

42.58%

754

28.85%

 

 

    Salt

275

266

9

3.38%

215

27.91%

240

14.49%

 

 

    Non_Salt

695

684

11

1.61%

467

48.82%

513

35.37%

 

 

Total

2,009

1,930

79

4.09%

1,490

34.83%

1,681

19.54%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Power Generation Additions/Retirements

 

 

  

 

Front Month Prices

 

 

 

 

 

 

 

 

 

 

 

 

 

Electricity

 

 

 

EOXLive Market Data

 

 

 

Contract

4/28/23

4/27/23

% Change

Change

3/30/23

% Change

4/28/22

% Change

 

 

PJM West On Peak

May-23

$39.82

$39.80

0.06%

$0.03

$33.46

19.03%

$62.93

-36.72%

 

 

ERCOT North On Peak

May-23

$26.92

$31.10

-13.43%

-$4.17

$38.69

-30.41%

$50.08

-46.24%

 

 

CAISO SP 15 On Peak

May-23

$33.46

$36.00

-7.05%

-$2.54

$34.42

-2.79%

$35.65

-6.15%

 

 

MISO Indiana On Peak

May-23

$43.29

$43.87

-1.33%

-$0.58

$36.41

18.91%

$64.19

-32.56%

 

 

NEISO Mass On Peak

May-23

$32.53

$31.06

4.71%

$1.46

$30.98

4.98%

$48.19

-32.51%

 

 

WECC Mid C On Peak

May-23

$49.77

$59.01

-15.65%

-$9.23

$66.57

-25.23%

$36.99

34.56%

 

 

NYISO Zone G On Peak

May-23

$32.73

$33.67

-2.79%

-$0.94

$31.54

3.76%

$44.26

-26.06%

 

 

 

 

 

Natural Gas & Basis

 

 

 

EOXLive Market Data

 

 

 

Contract

4/28/23

4/27/23

% Change

Change

3/30/23

% Change

4/28/22

% Change

 

 

NYMEX Henry Hub

Jun-23

$2.410

$2.355

2.34%

$0.06

$2.36

2.21%

$4.26

-43.37%

 

 

Houston Ship Channel

Jun-23

-$0.238

-$0.237

0.63%

$0.00

-$0.25

-6.07%

-$0.19

25.78%

 

 

Chicago

Jun-23

-$0.193

-$0.157

-18.73%

-$0.04

-$0.04

336.96%

-$0.31

-37.13%

 

 

Waha

Jun-23

-$1.237

-$1.251

-1.13%

$0.01

-$1.91

-35.36%

-$1.99

-37.79%

 

 

Algonquin

Jun-23

$0.797

$0.838

-4.95%

-$0.04

-$0.09

-1016.80%

-$0.72

-211.21%

 

 

Aeco

Jun-23

-$0.740

-$0.703

5.17%

-$0.04

-$0.54

35.96%

-$1.13

-34.28%

 

 

Socal

Jun-23

$0.503

$0.473

6.30%

$0.03

$1.16

-56.64%

-$0.44

-214.79%

 

 

 

 

 

Natural Gas Liquids

 

 

 

EOXLive Market Data

 

 

 

Contract

4/28/23

4/27/23

% Change

Change

3/30/23

% Change

4/28/22

% Change

 

 

Mt. Belvieu Propane LST

May-23

$0.739

$0.745

-0.82%

-$0.01

$0.79

-6.98%

$1.02

-27.85%

 

 

Mt. Belvieu Propane non LST

May-23

$0.739

$0.745

-0.83%

-$0.01

$0.81

-8.82%

$1.03

-28.21%

 

 

Mt. Belview Ethane

May-23

$0.209

$0.201

3.75%

$0.01

$0.22

-5.09%

$0.37

-43.64%

 

 

Mt. Belview Nat. Gasoline

May-23

$1.507

$1.504

0.21%

$0.00

$1.54

-2.13%

$1.86

-18.92%

 

 

Mt. Belvieu Butane LST

May-23

$0.824

$0.840

-1.92%

-$0.02

$0.91

-9.90%

$1.18

-30.19%

 

 

Conway Propane

May-23

$0.722

$0.735

-1.71%

-$0.01

$0.77

-5.60%

$1.03

-29.77%

 

 

Conway Nat. Gasoline

May-23

$1.503

$1.525

-1.46%

-$0.02

$1.58

-4.67%

$1.87

-19.55%

 

 

 

 

Crude Oil

 

 

 

EOXLive Market Data

 

 

 

Contract

4/28/23

4/27/23

% Change

Change

3/30/23

% Change

4/28/22

% Change

 

 

WTI

Jun-23

$76.78

$74.76

2.63%

$2.02

$74.49

3.07%

$86.69

-11.43%

 

 

Brent

Jun-23

$80.55

$78.37

2.71%

$2.18

$78.60

2.48%

$91.73

-12.19%

 

 

WCS

Jun-23

-$15.34

-$14.94

2.57%

-$0.39

-$14.60

5.05%

-$12.06

27.23%

 

 

LLS

Jun-23

$78.58

$76.26

2.95%

$2.32

$75.91

3.52%

$88.94

-11.64%

 

 

Mars

Jun-23

$74.58

$73.15

1.91%

$1.43

$72.17

3.33%

$85.42

-12.69%

 

 

Sour

Jun-23

$75.06

$73.44

2.15%

$1.62

$72.28

3.84%

$85.99

-12.71%

 

 

ESPO

Jun-23

$79.36

$77.13

2.81%

$2.23

$76.94

3.14%

$89.90

-11.73%

 

 

 

 

Refined Products

 

 

 

EOXLive Market Data

 

 

 

Contract

4/28/23

4/27/23

% Change

Change

3/30/23

% Change

4/28/22

% Change

 

 

NY Heating Oil

May-23

$2.38

$2.36

1.02%

$0.02

$2.57

-7.32%

$2.96

-19.71%

 

 

NY Gasoline

May-23

$2.52

$2.56

-1.49%

-$0.04

$2.65

-4.80%

$2.76

-8.60%

 

 

GC Gasoline

May-23

$2.42

$2.46

-1.55%

-$0.04

$2.55

-4.99%

$2.66

-8.92%

 

 

GC Jet

May-23

$2.16

$2.14

1.17%

$0.03

$2.41

-10.10%

$3.08

-29.77%

 

 

Chicago Ethanol

May-23

$2.41

$2.38

1.35%

$0.03

$2.34

3.21%

$2.50

-3.48%

 

 

Rotterdam Gasoil

May-23

$652.96

$644.66

1.29%

$8.29

$698.00

-6.45%

$829.06

-21.24%

 

 

Singapore Jet Kero

May-23

$90.78

$90.47

0.34%

$0.31

$94.25

-3.69%

$108.09

-16.02%

 

 

 

 

Implied Volatilities

 

 

 

EOXLive Market Data

 

 

 

Contract

4/28/23

4/27/23

% Change

Change

3/30/23

% Change

4/28/22

% Change

 

 

Henry Hub Straddle

Jun-23

62.43%

65.04%

-4.01%

-2.61%

87.25%

-28.45%

46.37%

34.63%

 

 

Algonquin Straddle

Jun-23

161.73%

170.34%

-5.05%

-8.61%

91.61%

76.54%

58.63%

175.85%

 

 

Waha Straddle

Jun-23

195.89%

191.02%

2.55%

4.87%

236.31%

-17.10%

103.14%

89.93%

 

 

Chicago Straddle

Jun-23

65.89%

68.10%

-3.25%

-2.21%

88.27%

-25.35%

49.04%

34.36%

 

 

PJM West Straddle

Jun-23

73.25%

75.03%

-2.37%

-1.78%

67.12%

9.13%

34.63%

111.52%

 

 

SP – 15 Straddle

Jun-23

66.05%

238.86%

-72.35%

-172.81%

127.07%

-48.02%

48.84%

35.24%

 

 

Mid. C Straddle

Jun-23

180.30%

199.22%

-9.50%

-18.92%

163.38%

10.36%

62.50%

188.48%

 

 

 

 

Euro Gas and Power/LNG

 

 

EOXLive Market Data

 

 

 

Contract

4/28/23

4/27/23

% Change

Change

3/30/23

% Change

4/28/22

% Change

 

 

Dutch TTF

Jun-23

EUR 38.30

EUR 39.25

-2.42%

-EUR 0.95

EUR 43.90

-12.77%

EUR 70.53

-45.70%

 

 

NBP

Jun-23

GBP 87.75

GBP 92.00

-4.62%

-GBP 4.25

GBP 110.30

-20.44%

GBP 164.87

-46.78%

 

 

German Base

Jun-23

EUR 99.60

EUR 99.60

0.00%

EUR 0.00

EUR 114.35

-12.90%

EUR 167.58

-40.57%

 

 

UK Base

Jun-23

GBP 91.86

GBP 95.85

-4.17%

-GBP 3.99

GBP 119.26

-22.97%

GBP 159.97

-42.58%

 

 

French Base

Jun-23

EUR 102.98

EUR 102.24

0.73%

EUR 0.74

EUR 123.78

-16.81%

EUR 164.01

-37.21%

 

 

Italian Base

Jun-23

EUR 129.59

EUR 128.58

0.79%

EUR 1.01

EUR 137.75

-5.92%

EUR 180.57

-28.23%

 

 

JKM LNG

Jun-23

$12.55

$12.83

-2.20%

-$0.28

$12.50

0.39%

$22.27

-43.66%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

Cooling Degree Days

 

 

 

 

 

 

04/29/2023

Week Tot

Dev Norm

Dev L YR

Cum Tot

CumD Norm

CumD L YR

CumD Norm

CumD L YR

 

 

New England

0

0

0

2

2

2

NA

NA

 

 

Middle Atlantic

0

0

0

9

9

8

NA

NA

 

 

E N Central

0

-1

-5

3

1

-1

NA

NA

 

 

W N Central

0

-3

-4

4

-4

-1

NA

NA

 

 

South Atlantic

22

0

-6

243

64

24

36.00%

11.00%

 

 

E S Central

1

-7

-15

47

-8

6

NA

NA

 

 

W S Central

16

-14

-30

213

43

-9

25.00%

-4.00%

 

 

Mountain

12

1

3

24

-23

-22

NA

NA

 

 

Pacific

1

-4

1

1

-19

-6

NA

NA

 

 

United States

7

-4

-6

76

13

2

NA

NA

 

 

 

 

Heating Degree Days

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

04/29/2023

Week Tot

Dev Norm

Dev L YR

Cum Tot

CumD Norm

CumD L YR

CumD Norm

CumD L YR

 

 

New England

117

7

-4

5,376

-874

-303

-14.00%

-5.00%

 

 

Middle Atlantic

111

21

13

4,823

-820

-218

-15.00%

-4.00%

 

 

E N Central

138

44

42

5,573

-624

-135

-10.00%

-2.00%

 

 

W N Central

125

42

23

6,363

-119

232

-2.00%

4.00%

 

 

South Atlantic

42

13

18

2,353

-428

-16

-15.00%

-1.00%

 

 

E S Central

67

32

40

3,022

-495

-82

-14.00%

-3.00%

 

 

W S Central

38

26

27

2,084

-184

152

-8.00%

8.00%

 

 

Mountain

82

-1

0

5,275

392

788

8.00%

18.00%

 

 

Pacific

28

-31

-32

3,378

416

586

14.00%

21.00%

 

 

United States

78

16

14

4,009

-309

99

-7.00%

3.00%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

Weather Forecast & Seasonal Outlook

 

 

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