Morning Report: Gas * Power * NGL * Crude * Products * Vols — May-17-2023

May 17, 2023

  

 

 

 

 

 

 

 

 

 

Prices as of 9:03 AM CST

 

 

 

 

 

 

 

Current Price

Previous Settle

% Change

Change

Volume

 

 

Natural Gas

$2.346

$2.376

-1.26%

-$0.030

42,593

 

 

WTI

$71.55

$70.86

0.97%

$0.69

109,345

 

 

Brent

$75.62

$74.91

0.95%

$0.71

12,541

 

 

ULSD

$2.388

$2.364

1.02%

$0.024

9,381

 

 

RBOB

$2.514

$2.479

1.40%

$0.035

8,115

 

 

 

 

Spreads

 

 

 

 

 

 

 

Current

Previous

% Change

Change

Contract

 

 

WTI-Brent

$4.02

$4.07

-1.23%

-$0.05

Jul-23

 

 

3:2:1 Crack

$30.55

$30.04

1.69%

$0.51

Jun-23

 

 

PJM West Spark

$35.61

$35.89

-0.80%

-$0.29

Jun-23

 

 

 

 

Baker Hughes Rig Count

 

 

 

 

 

 

 

Date

Count

Change

1 Year Chg.

1 Year Date

 

 

U.S.

05/12/23

731

-17

17

05/13/22

 

 

Canada

05/12/23

94

1

6

05/13/22

 

 

International

Apr

947

17

141

Apr

 

 

 

 

CFTC Net Positions

 

 

 

 

 

 

As of 5/9/2023

Open Interest

Total Net Long

Total Net Short

Diff

 

 

PJM West On Peak

103,054

102,621

102,450

171

 

 

PJM West Off Peak

87,576

86,998

87,176

-178

 

 

Natural Gas Henry Hub

445,803

417,715

432,529

-14,814

 

 

WTI – Light Sweet Crude Futures

268,661

200,113

193,636

6,477

 

 

Brent Crude Last Day

136,024

126,317

129,040

-2,723

 

 

NYM Ethanol

32,835

32,384

32,397

-13

 

 

Mt Belvieu LDH Propane Swap

142,237

141,084

141,818

-734

 

 

RBOB

314,543

293,397

296,410

-3,013

 

 

HSC Basis

543,292

539,600

534,139

5,461

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

EIA Lower 48 Natural Gas Storage

 

 

 

 

05/11/18

 

 

 

5/5/23

4/28/23

Net Change

% Change

5/6/22

% Change

5 Year Avg.

% Change

 

 

East

422

410

12

2.93%

274

54.01%

336

25.74%

 

 

Midwest

497

481

16

3.33%

342

45.32%

391

26.98%

 

 

Mountain

104

95

9

9.47%

96

8.33%

105

-0.76%

 

 

Pacific

114

100

14

14.00%

183

-37.70%

207

-44.98%

 

 

South

1,002

977

25

2.56%

749

33.78%

818

22.49%

 

 

    Salt

287

278

9

3.24%

241

19.09%

261

9.88%

 

 

    Non_Salt

715

699

16

2.29%

507

41.03%

556

28.50%

 

 

Total

2,141

2,063

78

3.78%

1,643

30.31%

1,857

15.29%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Power Generation Additions/Retirements

 

 

  

 

Front Month Prices

 

 

 

 

 

 

 

 

 

 

 

 

 

Electricity

 

 

 

EOXLive Market Data

 

 

 

Contract

5/16/23

5/15/23

% Change

Change

4/18/23

% Change

5/16/22

% Change

 

 

PJM West On Peak

Jun-23

$40.62

$40.98

-0.88%

-$0.36

$43.61

-6.85%

$61.49

-33.94%

 

 

ERCOT North On Peak

Jun-23

$45.97

$50.49

-8.94%

-$4.52

$42.92

7.11%

$65.66

-29.98%

 

 

CAISO SP 15 On Peak

Jun-23

$48.73

$48.82

-0.18%

-$0.09

$53.08

-8.19%

$62.99

-22.63%

 

 

MISO Indiana On Peak

Jun-23

$44.31

$44.76

-1.01%

-$0.45

$48.46

-8.56%

$63.62

-30.35%

 

 

NEISO Mass On Peak

Jun-23

$43.68

$43.09

1.37%

$0.59

$54.04

-19.18%

$53.40

-18.20%

 

 

WECC Mid C On Peak

Jun-23

$67.56

$66.43

1.70%

$1.13

$63.62

6.19%

$51.85

30.30%

 

 

NYISO Zone G On Peak

Jun-23

$41.25

$40.35

2.22%

$0.90

$52.33

-21.17%

$52.81

-21.90%

 

 

 

 

 

Natural Gas & Basis

 

 

 

EOXLive Market Data

 

 

 

Contract

5/16/23

5/15/23

% Change

Change

4/18/23

% Change

5/16/22

% Change

 

 

NYMEX Henry Hub

Jun-23

$2.376

$2.375

0.04%

$0.00

$2.52

-5.60%

$4.68

-49.18%

 

 

Houston Ship Channel

Jun-23

-$0.239

-$0.248

-3.71%

$0.01

-$0.27

-12.63%

-$0.17

37.84%

 

 

Chicago

Jun-23

-$0.201

-$0.269

34.08%

$0.07

-$0.13

54.85%

-$0.27

-24.83%

 

 

Waha

Jun-23

-$1.147

-$1.224

-6.32%

$0.08

-$1.41

-18.72%

-$2.04

-43.93%

 

 

Algonquin

Jun-23

$0.586

$0.667

-12.18%

-$0.08

$1.84

-68.11%

-$0.72

-181.72%

 

 

Aeco

Jun-23

-$0.754

-$0.927

-18.62%

$0.17

-$0.69

8.78%

-$1.24

-39.32%

 

 

Socal

Jun-23

$0.305

$0.235

30.12%

$0.07

$0.79

-61.31%

-$0.33

-193.02%

 

 

 

 

 

Natural Gas Liquids

 

 

 

EOXLive Market Data

 

 

 

Contract

5/16/23

5/15/23

% Change

Change

4/18/23

% Change

5/16/22

% Change

 

 

Mt. Belvieu Propane LST

Jun-23

$0.637

$0.640

-0.39%

$0.00

$0.82

-22.50%

$1.04

-38.64%

 

 

Mt. Belvieu Propane non LST

Jun-23

$0.636

$0.639

-0.39%

$0.00

$0.83

-22.88%

$1.01

-37.19%

 

 

Mt. Belview Ethane

Jun-23

$0.199

$0.200

-0.43%

$0.00

$0.21

-6.95%

$0.36

-44.07%

 

 

Mt. Belview Nat. Gasoline

Jun-23

$1.397

$1.380

1.25%

$0.02

$1.59

-11.86%

$1.88

-25.63%

 

 

Mt. Belvieu Butane LST

Jun-23

$0.699

$0.699

-0.04%

$0.00

$0.94

-25.85%

$1.16

-39.64%

 

 

Conway Propane

Jun-23

$0.639

$0.635

0.60%

$0.00

$0.82

-21.62%

$1.01

-36.60%

 

 

Conway Nat. Gasoline

Jun-23

$1.449

$1.412

2.58%

$0.04

$1.63

-11.24%

$1.87

-22.49%

 

 

 

 

Crude Oil

 

 

 

EOXLive Market Data

 

 

 

Contract

5/16/23

5/15/23

% Change

Change

4/18/23

% Change

5/16/22

% Change

 

 

WTI

Jul-23

$70.84

$71.09

-0.35%

-$0.25

$80.61

-12.12%

$89.59

-20.93%

 

 

Brent

Jul-23

$74.91

$75.23

-0.43%

-$0.32

$84.45

-11.30%

$94.49

-20.72%

 

 

WCS

Jul-23

-$13.20

-$13.20

-0.01%

$0.00

-$14.34

-7.95%

-$13.35

-1.12%

 

 

LLS

Jul-23

$72.56

$71.62

1.30%

$0.94

$82.22

-11.75%

$90.50

-19.82%

 

 

Mars

Jul-23

$68.93

$68.04

1.30%

$0.90

$78.34

-12.01%

$87.02

-20.79%

 

 

Sour

Jul-23

$69.29

$69.08

0.29%

$0.20

$79.52

-12.87%

$88.09

-21.35%

 

 

ESPO

Jul-23

$73.65

$72.61

1.41%

$1.04

$82.59

-10.82%

$92.90

-20.73%

 

 

 

 

Refined Products

 

 

 

EOXLive Market Data

 

 

 

Contract

5/16/23

5/15/23

% Change

Change

4/18/23

% Change

5/16/22

% Change

 

 

NY Heating Oil

Jun-23

$2.36

$2.32

1.98%

$0.05

$2.58

-8.23%

$3.02

-21.80%

 

 

NY Gasoline

Jun-23

$2.42

$2.44

-0.70%

-$0.02

$2.71

-10.61%

$2.89

-16.24%

 

 

GC Gasoline

Jun-23

$2.32

$2.34

-0.73%

-$0.02

$2.61

-11.01%

$2.79

-16.82%

 

 

GC Jet

Jun-23

$2.19

$2.19

0.32%

$0.01

$2.26

-2.96%

$2.63

-16.62%

 

 

Chicago Ethanol

Jun-23

$2.41

$2.41

0.12%

$0.00

$2.40

0.46%

$2.49

-3.37%

 

 

Rotterdam Gasoil

Jun-23

$635.50

$635.52

0.00%

-$0.02

$708.22

-10.27%

$804.95

-21.05%

 

 

Singapore Jet Kero

Jun-23

$90.92

$91.01

-0.09%

-$0.09

$100.37

-9.41%

$108.21

-15.98%

 

 

 

 

Implied Volatilities

 

 

 

EOXLive Market Data

 

 

 

Contract

5/16/23

5/15/23

% Change

Change

4/18/23

% Change

5/16/22

% Change

 

 

Henry Hub Straddle

Jul-23

66.09%

59.24%

11.56%

6.85%

75.19%

-12.10%

48.45%

36.41%

 

 

Algonquin Straddle

Jul-23

121.40%

114.68%

5.86%

6.72%

188.71%

-35.67%

54.49%

122.79%

 

 

Waha Straddle

Jul-23

114.57%

102.48%

11.80%

12.09%

146.94%

-22.03%

87.44%

31.03%

 

 

Chicago Straddle

Jul-23

72.38%

65.11%

11.17%

7.27%

81.24%

-10.91%

51.63%

40.19%

 

 

PJM West Straddle

Jul-23

79.07%

82.63%

-4.31%

-3.56%

79.89%

-1.03%

61.10%

29.41%

 

 

SP – 15 Straddle

Jul-23

144.42%

150.77%

-4.21%

-6.35%

104.96%

37.60%

57.65%

150.51%

 

 

Mid. C Straddle

Jul-23

205.31%

197.87%

3.76%

7.44%

162.93%

26.01%

87.11%

135.69%

 

 

 

 

Euro Gas and Power/LNG

 

 

EOXLive Market Data

 

 

 

Contract

5/16/23

5/15/23

% Change

Change

4/18/23

% Change

5/16/22

% Change

 

 

Dutch TTF

Jul-23

EUR 32.35

EUR 32.99

-1.95%

-EUR 0.65

EUR 43.25

-25.20%

EUR 71.59

-54.81%

 

 

NBP

Jul-23

GBP 73.75

GBP 74.82

-1.43%

-GBP 1.07

GBP 103.50

-28.74%

GBP 162.53

-54.62%

 

 

German Base

Jul-23

EUR 93.57

EUR 93.11

0.50%

EUR 0.47

EUR 115.10

-18.70%

EUR 188.13

-50.26%

 

 

UK Base

Jul-23

GBP 82.30

GBP 79.07

4.09%

GBP 3.24

GBP 111.82

-26.40%

GBP 169.11

-51.33%

 

 

French Base

Jul-23

EUR 98.04

EUR 96.50

1.60%

EUR 1.55

EUR 128.30

-23.58%

EUR 181.01

-45.83%

 

 

Italian Base

Jul-23

EUR 114.80

EUR 110.76

3.64%

EUR 4.03

EUR 160.35

-28.41%

EUR 191.62

-40.09%

 

 

JKM LNG

Jul-23

$10.78

$11.09

-2.79%

-$0.31

$12.45

-13.40%

$19.05

-43.40%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

Cooling Degree Days

 

 

 

 

 

 

05/13/2023

Week Tot

Dev Norm

Dev L YR

Cum Tot

CumD Norm

CumD L YR

CumD Norm

CumD L YR

 

 

New England

3

3

1

5

5

3

NA

NA

 

 

Middle Atlantic

4

2

4

14

11

13

NA

NA

 

 

E N Central

5

-2

-26

9

-3

-27

NA

NA

 

 

W N Central

30

21

-14

38

15

-12

NA

NA

 

 

South Atlantic

46

13

14

307

69

8

29.00%

3.00%

 

 

E S Central

48

25

8

101

7

-19

NA

NA

 

 

W S Central

71

23

-32

327

72

-59

28.00%

-15.00%

 

 

Mountain

9

-7

-7

43

-33

-33

NA

NA

 

 

Pacific

2

-4

2

3

-28

-4

NA

NA

 

 

United States

24

8

-5

109

16

-12

NA

NA

 

 

 

 

Heating Degree Days

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

05/13/2023

Week Tot

Dev Norm

Dev L YR

Cum Tot

CumD Norm

CumD L YR

CumD Norm

CumD L YR

 

 

New England

43

-33

-29

5,518

-901

-331

-14.00%

-6.00%

 

 

Middle Atlantic

29

-31

-25

4,951

-828

-215

-14.00%

-4.00%

 

 

E N Central

29

-36

1

5,707

-634

-110

-10.00%

-2.00%

 

 

W N Central

16

-40

-1

6,458

-150

214

-2.00%

3.00%

 

 

South Atlantic

6

-12

-20

2,402

-420

-6

-15.00%

0.00%

 

 

E S Central

2

-20

-10

3,077

-489

-46

-14.00%

-2.00%

 

 

W S Central

0

-5

-1

2,096

-185

158

-8.00%

8.00%

 

 

Mountain

59

-2

1

5,386

370

771

7.00%

17.00%

 

 

Pacific

53

6

-26

3,514

452

598

15.00%

21.00%

 

 

United States

25

-18

-13

4,104

-309

106

-7.00%

3.00%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

Weather Forecast & Seasonal Outlook

 

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