Morning Report: Gas * Power * NGL * Crude * Products * Vols — May-11-2023

May 11, 2023

  

 

 

 

 

 

 

 

 

 

Prices as of 9:31 AM CST

 

 

 

 

 

 

 

Current Price

Previous Settle

% Change

Change

Volume

 

 

Natural Gas

$2.196

$2.191

0.23%

$0.005

41,975

 

 

WTI

$71.15

$72.56

-1.94%

-$1.41

176,413

 

 

Brent

$75.12

$76.41

-1.69%

-$1.29

16,065

 

 

ULSD

$2.363

$2.393

-1.28%

-$0.031

12,597

 

 

RBOB

$2.456

$2.495

-1.55%

-$0.039

11,807

 

 

 

 

Spreads

 

 

 

 

 

 

 

Current

Previous

% Change

Change

Contract

 

 

WTI-Brent

$3.96

$3.89

1.80%

$0.07

Jul-23

 

 

3:2:1 Crack

$29.40

$29.45

-0.17%

-$0.05

Jun-23

 

 

PJM West Spark

$35.08

$35.04

0.10%

$0.04

Jun-23

 

 

 

 

Baker Hughes Rig Count

 

 

 

 

 

 

 

Date

Count

Change

1 Year Chg.

1 Year Date

 

 

U.S.

05/05/23

748

-7

43

05/06/22

 

 

Canada

04/28/23

93

0

2

05/06/22

 

 

International

Apr

947

17

141

Apr

 

 

 

 

CFTC Net Positions

 

 

 

 

 

 

As of 5/2/2023

Open Interest

Total Net Long

Total Net Short

Diff

 

 

PJM West On Peak

104,388

102,864

103,438

-574

 

 

PJM West Off Peak

89,527

88,246

88,536

-290

 

 

Natural Gas Henry Hub

445,841

417,862

432,263

-14,401

 

 

WTI – Light Sweet Crude Futures

265,282

196,694

192,257

4,437

 

 

Brent Crude Last Day

129,626

118,746

123,632

-4,886

 

 

NYM Ethanol

30,674

30,133

30,168

-35

 

 

Mt Belvieu LDH Propane Swap

152,900

151,647

152,341

-694

 

 

RBOB

294,956

273,509

280,094

-6,585

 

 

HSC Basis

578,231

570,759

566,644

4,115

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

EIA Lower 48 Natural Gas Storage

 

 

 

 

05/04/18

 

 

 

4/28/23

4/21/23

Net Change

% Change

4/29/22

% Change

5 Year Avg.

% Change

 

 

East

410

390

20

5.13%

253

62.06%

310

32.17%

 

 

Midwest

481

468

13

2.78%

324

48.46%

369

30.35%

 

 

Mountain

95

90

5

5.56%

92

3.26%

99

-4.43%

 

 

Pacific

100

90

10

11.11%

176

-43.18%

197

-49.24%

 

 

South

977

971

6

0.62%

721

35.51%

789

23.83%

 

 

    Salt

278

275

3

1.09%

233

19.31%

253

9.79%

 

 

    Non_Salt

699

695

4

0.58%

489

42.94%

536

30.41%

 

 

Total

2,063

2,009

54

2.69%

1,567

31.65%

1,765

16.91%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Power Generation Additions/Retirements

 

 

  

 

Front Month Prices

 

 

 

 

 

 

 

 

 

 

 

 

 

Electricity

 

 

 

EOXLive Market Data

 

 

 

Contract

5/10/23

5/9/23

% Change

Change

4/12/23

% Change

5/10/22

% Change

 

 

PJM West On Peak

Jun-23

$39.79

$39.73

0.14%

$0.06

$42.60

-6.61%

$65.48

-39.24%

 

 

ERCOT North On Peak

Jun-23

$41.39

$43.02

-3.79%

-$1.63

$42.54

-2.71%

$61.41

-32.60%

 

 

CAISO SP 15 On Peak

Jun-23

$48.52

$49.70

-2.37%

-$1.18

$52.82

-8.13%

$63.47

-23.55%

 

 

MISO Indiana On Peak

Jun-23

$41.98

$42.99

-2.34%

-$1.01

$46.36

-9.45%

$67.33

-37.65%

 

 

NEISO Mass On Peak

Jun-23

$42.76

$48.70

-12.21%

-$5.95

$38.46

11.18%

$51.21

-16.51%

 

 

WECC Mid C On Peak

Jun-23

$64.32

$63.95

0.59%

$0.38

$60.44

6.42%

$44.67

44.00%

 

 

NYISO Zone G On Peak

Jun-23

$40.36

$41.67

-3.13%

-$1.30

$39.71

1.65%

$53.66

-24.78%

 

 

 

 

 

Natural Gas & Basis

 

 

 

EOXLive Market Data

 

 

 

Contract

5/10/23

5/9/23

% Change

Change

4/12/23

% Change

5/10/22

% Change

 

 

NYMEX Henry Hub

Jun-23

$2.191

$2.267

-3.35%

-$0.08

$2.27

-3.35%

$4.54

-51.73%

 

 

Houston Ship Channel

Jun-23

-$0.235

-$0.246

-4.43%

$0.01

-$0.23

2.62%

-$0.18

34.28%

 

 

Chicago

Jun-23

-$0.230

-$0.220

-4.73%

-$0.01

-$0.11

104.07%

-$0.28

-17.71%

 

 

Waha

Jun-23

-$1.257

-$1.262

-0.43%

$0.01

-$1.45

-13.52%

-$2.03

-38.01%

 

 

Algonquin

Jun-23

$0.978

$1.137

-14.03%

-$0.16

-$0.08

-1274.88%

-$0.73

-233.05%

 

 

Aeco

Jun-23

-$0.852

-$0.827

2.95%

-$0.02

-$0.67

27.52%

-$1.08

-20.83%

 

 

Socal

Jun-23

$0.211

$0.005

3888.68%

$0.21

$1.08

-80.35%

-$0.38

-155.46%

 

 

 

 

 

Natural Gas Liquids

 

 

 

EOXLive Market Data

 

 

 

Contract

5/10/23

5/9/23

% Change

Change

4/12/23

% Change

5/10/22

% Change

 

 

Mt. Belvieu Propane LST

Jun-23

$0.685

$0.703

-2.48%

-$0.02

$0.84

-18.68%

$1.00

-31.57%

 

 

Mt. Belvieu Propane non LST

Jun-23

$0.683

$0.693

-1.44%

-$0.01

$0.85

-19.26%

$1.01

-32.57%

 

 

Mt. Belview Ethane

Jun-23

$0.194

$0.196

-1.29%

$0.00

$0.21

-7.44%

$0.35

-45.16%

 

 

Mt. Belview Nat. Gasoline

Jun-23

$1.464

$1.414

3.54%

$0.05

$1.63

-10.40%

$1.84

-20.26%

 

 

Mt. Belvieu Butane LST

Jun-23

$0.751

$0.748

0.33%

$0.00

$0.97

-22.38%

$1.13

-33.42%

 

 

Conway Propane

Jun-23

$0.673

$0.686

-1.93%

-$0.01

$0.82

-18.26%

$1.00

-32.69%

 

 

Conway Nat. Gasoline

Jun-23

$1.497

$1.421

5.40%

$0.08

$1.64

-8.66%

$1.83

-18.06%

 

 

 

 

Crude Oil

 

 

 

EOXLive Market Data

 

 

 

Contract

5/10/23

5/9/23

% Change

Change

4/12/23

% Change

5/10/22

% Change

 

 

WTI

Jul-23

$72.52

$73.62

-1.52%

-$1.10

$82.65

-12.26%

$83.77

-13.43%

 

 

Brent

Jul-23

$76.41

$77.44

-1.35%

-$1.03

$86.75

-11.92%

$88.91

-14.06%

 

 

WCS

Jul-23

-$13.25

-$13.21

0.32%

-$0.04

-$14.28

-7.23%

-$15.44

-14.17%

 

 

LLS

Jul-23

$74.34

$75.34

-1.35%

-$1.01

$83.73

-11.21%

$85.05

-12.59%

 

 

Mars

Jul-23

$71.03

$71.67

-0.91%

-$0.64

$80.17

-11.41%

$82.20

-13.59%

 

 

Sour

Jul-23

$71.63

$72.47

-1.18%

-$0.85

$80.85

-11.41%

$80.86

-11.42%

 

 

ESPO

Jul-23

$75.04

$76.22

-1.57%

-$1.18

$84.54

-11.23%

$81.93

-8.40%

 

 

 

 

Refined Products

 

 

 

EOXLive Market Data

 

 

 

Contract

5/10/23

5/9/23

% Change

Change

4/12/23

% Change

5/10/22

% Change

 

 

NY Heating Oil

Jun-23

$2.39

$2.39

0.00%

$0.00

$2.66

-9.98%

$2.88

-16.92%

 

 

NY Gasoline

Jun-23

$2.49

$2.48

0.48%

$0.01

$2.80

-11.13%

$2.70

-7.81%

 

 

GC Gasoline

Jun-23

$2.39

$2.38

0.50%

$0.01

$2.70

-11.54%

$2.60

-8.11%

 

 

GC Jet

Jun-23

$2.21

$2.24

-1.25%

-$0.03

$2.43

-8.97%

$2.68

-17.58%

 

 

Chicago Ethanol

Jun-23

$2.36

$2.33

1.07%

$0.03

$2.41

-2.20%

$2.46

-4.31%

 

 

Rotterdam Gasoil

Jun-23

$650.26

$635.05

2.40%

$15.21

$731.10

-11.06%

$813.77

-20.09%

 

 

Singapore Jet Kero

Jun-23

$91.68

$90.86

0.90%

$0.82

$99.52

-7.88%

$104.66

-12.41%

 

 

 

 

Implied Volatilities

 

 

 

EOXLive Market Data

 

 

 

Contract

5/10/23

5/9/23

% Change

Change

4/12/23

% Change

5/10/22

% Change

 

 

Henry Hub Straddle

Jun-23

66.26%

64.09%

3.39%

2.17%

92.69%

-28.51%

45.49%

45.66%

 

 

Algonquin Straddle

Jun-23

144.30%

142.16%

1.51%

2.14%

96.86%

48.98%

56.67%

154.63%

 

 

Waha Straddle

Jun-23

171.29%

143.73%

19.17%

27.56%

263.45%

-34.98%

95.73%

78.93%

 

 

Chicago Straddle

Jun-23

72.05%

69.07%

4.31%

2.98%

93.91%

-23.28%

49.07%

46.83%

 

 

PJM West Straddle

Jun-23

74.39%

72.72%

2.30%

1.67%

77.69%

-4.25%

52.55%

41.56%

 

 

SP – 15 Straddle

Jun-23

169.15%

66.31%

155.09%

102.84%

157.85%

7.16%

59.51%

184.24%

 

 

Mid. C Straddle

Jun-23

341.57%

158.86%

115.01%

182.71%

182.48%

87.18%

70.67%

383.33%

 

 

 

 

Euro Gas and Power/LNG

 

 

EOXLive Market Data

 

 

 

Contract

5/10/23

5/9/23

% Change

Change

4/12/23

% Change

5/10/22

% Change

 

 

Dutch TTF

Jun-23

EUR 34.90

EUR 36.10

-3.32%

-EUR 1.20

EUR 43.30

-19.40%

EUR 72.66

-51.97%

 

 

NBP

Jun-23

GBP 80.30

GBP 82.70

-2.90%

-GBP 2.40

GBP 104.61

-23.24%

GBP 161.38

-50.24%

 

 

German Base

Jun-23

EUR 97.15

EUR 93.50

3.91%

EUR 3.65

EUR 117.14

-17.06%

EUR 184.71

-47.40%

 

 

UK Base

Jun-23

GBP 91.88

GBP 87.53

4.97%

GBP 4.35

GBP 113.89

-19.33%

GBP 168.73

-45.55%

 

 

French Base

Jun-23

EUR 98.08

EUR 97.00

1.12%

EUR 1.09

EUR 121.60

-19.34%

EUR 171.06

-42.66%

 

 

Italian Base

Jun-23

EUR 116.70

EUR 119.92

-2.68%

-EUR 3.22

EUR 146.49

-20.34%

EUR 195.22

-40.22%

 

 

JKM LNG

Jun-23

$10.88

$11.04

-1.39%

-$0.15

$12.80

-14.98%

$22.52

-51.68%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

Cooling Degree Days

 

 

 

 

 

 

05/06/2023

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

-1

0

9

8

8

NA

NA

 

 

E N Central

0

-3

0

4

-1

-1

NA

NA

 

 

W N Central

4

-2

4

8

-6

2

NA

NA

 

 

South Atlantic

18

-8

-30

262

57

-6

28.00%

-2.00%

 

 

E S Central

6

-10

-34

53

-18

-28

NA

NA

 

 

W S Central

42

4

-17

256

48

-26

23.00%

-9.00%

 

 

Mountain

10

-3

-4

34

-27

-26

NA

NA

 

 

Pacific

0

-6

0

1

-24

-6

NA

NA

 

 

United States

10

-3

-10

85

9

-7

NA

NA

 

 

 

 

Heating Degree Days

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

05/06/2023

Week Tot

Dev Norm

Dev L YR

Cum Tot

CumD Norm

CumD L YR

CumD Norm

CumD L YR

 

 

New England

99

6

1

5,475

-868

-302

-14.00%

-5.00%

 

 

Middle Atlantic

99

24

28

4,922

-796

-190

-14.00%

-4.00%

 

 

E N Central

106

27

23

5,679

-597

-111

-10.00%

-2.00%

 

 

W N Central

79

10

-17

6,442

-110

215

-2.00%

3.00%

 

 

South Atlantic

43

20

31

2,396

-408

14

-15.00%

1.00%

 

 

E S Central

53

25

45

3,075

-470

-37

-13.00%

-1.00%

 

 

W S Central

12

4

6

2,096

-180

158

-8.00%

8.00%

 

 

Mountain

52

-20

-18

5,327

372

770

8.00%

17.00%

 

 

Pacific

83

30

38

3,461

446

624

15.00%

22.00%

 

 

United States

70

18

21

4,079

-291

120

-7.00%

3.00%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

Weather Forecast & Seasonal Outlook

 

Tropical Outlook

 

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