Morning Report: Gas * Power * NGL * Crude * Products * Vols — Apr-22-2026

Apr 22, 2026

  

 

 

 

 

 

 

 

 

 

Prices as of 9:05 AM CST

 

 

 

 

 

 

 

Current Price

Previous Settle

% Change

Change

Volume

 

 

Natural Gas

$2.741

$2.697

1.63%

$0.044

26,275

 

 

WTI

$91.74

$92.13

-0.42%

-$0.39

128,388

 

 

Brent

$100.59

$98.48

2.14%

$2.11

18,144

 

 

ULSD

$3.878

$3.729

4.00%

$0.149

3,924

 

 

RBOB

$3.284

$3.210

2.30%

$0.074

5,722

 

 

 

 

Spreads

 

 

 

 

 

 

 

Current

Previous

% Change

Change

Contract

 

 

WTI-Brent

$8.83

$8.81

0.23%

$0.02

Jun-26

 

 

3:2:1 Crack

$50.34

$48.83

3.10%

$1.51

Jun-26

 

 

PJM West Spark

$52.22

$53.23

-1.88%

-$1.00

May-26

 

 

 

 

Baker Hughes Rig Count

 

 

 

 

 

 

 

Date

Count

Change

1 Year Chg.

1 Year Date

 

 

U.S.

04/17/26

543

-2

-42

04/17/25

 

 

Canada

04/17/26

130

-5

-4

04/17/25

 

 

International

Mar-2026

1058

-54

-37

Mar-2025

 

 

 

 

CFTC Net Positions

 

 

 

 

 

 

As of 4/14/2026

Open Interest

Total Net Long

Total Net Short

Diff

 

 

PJM West On Peak

122,592

122,209

122,069

140

 

 

PJM West Off Peak

119,576

119,247

119,087

160

 

 

Natural Gas Henry Hub

387,550

371,603

367,431

4,172

 

 

WTI – Light Sweet Crude Futures

226,616

195,668

190,691

4,977

 

 

Brent Crude Last Day

381,403

370,091

373,369

-3,278

 

 

NYM Ethanol

51,895

51,412

51,198

214

 

 

Mt Belvieu LDH Propane Swap

111,622

111,080

110,825

255

 

 

RBOB

339,819

310,920

323,040

-12,120

 

 

HSC Basis

900,269

893,129

893,963

-834

 

 

 

 

EIA Short Term Energy Outlook

 

 

 

 

 

 

 

2023

2024

2025 Projected

2026 Projected

 

 

Brent

$82.00

$81.00

$66.00

$59.00

 

 

Gasoline

$3.50

$3.30

$3.10

$3.10

 

 

Crude Oil Production

$12.90

$13.20

$13.40

$13.50

 

 

Natural Gas Spot

$2.50

$2.20

$4.10

$4.80

 

 

LNG Exports

12.00

12.00

15.00

16.00

 

 

 

 

 

 

 

 

 

 

Electrical Generation %

2023

2024

2025 Projected

2026 Projected

 

 

Natural gas

42.00%

42.00%

40.00%

40.00%

 

 

Coal

17.00%

16.00%

16.00%

15.00%

 

 

Renewables

22.00%

23.00%

25.00%

27.00%

 

 

Nuclear

19.00%

19.00%

19.00%

19.00%

 

 

 

 

 

 

 

 

 

 

 

Short Term Energy Outlook

 

Natural Gas Storage

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

EIA Lower 48 Natural Gas Storage

 

 

 

 

04/16/21

 

 

 

4/10/26

4/3/26

Net Change

% Change

4/11/25

% Change

5 Year Avg.

% Change

 

 

East

283

277

6

2.17%

290

-2.41%

319

-11.29%

 

 

Midwest

371

358

13

3.63%

373

-0.54%

415

-10.65%

 

 

Mountain

210

208

2

0.96%

166

26.51%

125

68.27%

 

 

Pacific

267

261

6

2.30%

213

25.35%

181

47.51%

 

 

South

839

807

32

3.97%

804

4.35%

848

-1.11%

 

 

    Salt

243

226

17

7.52%

242

0.41%

253

-3.95%

 

 

    Non_Salt

596

581

15

2.58%

562

6.05%

596

0.07%

 

 

Total

1,970

1,911

59

3.09%

1,846

6.72%

1,888

4.32%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Power Generation Additions/Retirements

 

 

  

 

Front Month Prices

 

 

 

 

 

 

 

 

 

 

 

 

 

Electricity

 

 

 

OTCGH/EOXLive Market Data

 

 

 

Contract

4/21/26

4/20/26

% Change

Change

3/23/26

% Change

4/21/25

% Change

 

 

PJM West On Peak

May-26

$58.09

$59.00

-1.53%

-$0.90

$57.93

0.29%

$51.71

12.34%

 

 

ERCOT North On Peak

May-26

$38.68

$38.10

1.53%

$0.58

$34.05

13.59%

$41.73

-7.30%

 

 

CAISO SP 15 On Peak

May-26

$5.12

$4.51

13.45%

$0.61

$8.77

-41.59%

$9.18

-44.21%

 

 

MISO Indiana On Peak

May-26

$48.04

$49.38

-2.72%

-$1.34

$44.88

7.05%

$44.85

7.10%

 

 

NEISO Mass On Peak

May-26

$40.54

$40.42

0.28%

$0.11

$38.13

6.31%

$47.98

-15.51%

 

 

WECC Mid C On Peak

May-26

$11.82

$12.73

-7.17%

-$0.91

$15.19

-22.20%

$27.51

-57.05%

 

 

NYISO Zone G On Peak

May-26

$40.24

$40.18

0.16%

$0.06

$40.85

-1.49%

$40.55

-0.76%

 

 

 

 

 

Natural Gas & Basis

 

 

 

OTCGH/EOXLive Market Data

 

 

 

Contract

4/21/26

4/20/26

% Change

Change

3/23/26

% Change

4/21/25

% Change

 

 

NYMEX Henry Hub

May-26

$2.697

$2.689

0.30%

$0.01

$2.87

-6.16%

$3.59

-24.81%

 

 

Houston Ship Channel

May-26

-$0.393

-$0.405

-3.09%

$0.01

-$0.36

9.27%

-$0.36

9.03%

 

 

Chicago

May-26

-$0.407

-$0.419

2.77%

$0.01

-$0.35

16.46%

-$0.33

22.30%

 

 

Waha

May-26

-$6.770

-$6.615

-2.34%

-$0.16

-$4.83

40.15%

-$2.54

166.60%

 

 

Algonquin

May-26

-$0.590

-$0.590

0.00%

$0.00

-$0.67

-12.29%

-$0.25

136.19%

 

 

Aeco

May-26

-$1.850

-$1.810

2.21%

-$0.04

-$1.65

12.30%

-$1.55

19.72%

 

 

Socal

May-26

-$1.820

-$1.840

-1.09%

$0.02

-$1.64

10.73%

-$0.35

416.02%

 

 

 

 

 

Natural Gas Liquids

 

 

 

OTCGH/EOXLive Market Data

 

 

 

Contract

4/21/26

4/20/26

% Change

Change

3/23/26

% Change

4/21/25

% Change

 

 

Mt. Belvieu Propane LST

May-26

$0.814

$0.772

5.42%

$0.04

$0.81

0.46%

$0.66

23.09%

 

 

Mt. Belvieu Propane non LST

May-26

$0.763

$0.762

0.13%

$0.00

$0.78

-1.61%

$0.66

14.68%

 

 

Mt. Belview Ethane

May-26

$0.208

$0.206

0.61%

$0.00

$0.24

-13.54%

$0.26

-19.76%

 

 

Mt. Belview Nat. Gasoline

May-26

$1.950

$1.913

1.96%

$0.04

$1.90

2.55%

$1.21

61.54%

 

 

Mt. Belvieu Butane LST

May-26

$1.009

$0.996

1.32%

$0.01

$1.11

-8.75%

$0.77

31.58%

 

 

Far East Propane

May-26

$7.100

$7.040

0.85%

$0.06

$7.52

-5.59%

$4.89

45.20%

 

 

Saudi Propane

May-26

$6.710

$6.750

-0.59%

-$0.04

$6.15

9.11%

$4.85

38.44%

 

 

 

 

Crude Oil

 

 

 

OTCGH/EOXLive Market Data

 

 

 

Contract

4/21/26

4/20/26

% Change

Change

3/23/26

% Change

4/21/25

% Change

 

 

WTI

Jun-26

$89.67

$87.42

2.51%

$2.25

$85.37

5.04%

$59.66

50.30%

 

 

Brent

Jun-26

$98.48

$95.48

3.05%

$3.00

$95.92

2.67%

$63.51

55.06%

 

 

WCS

Jun-26

-$14.66

-$14.43

1.60%

-$0.23

-$11.14

31.63%

-$13.00

12.82%

 

 

LLS

Jun-26

$85.28

$82.78

2.94%

$2.50

$85.26

0.02%

$61.64

38.34%

 

 

Mars

Jun-26

$85.67

$85.41

0.30%

$0.26

$85.49

0.21%

$60.59

41.40%

 

 

Sour

Jun-26

$87.00

$83.48

4.04%

$3.51

$91.46

-4.88%

$59.99

45.02%

 

 

ESPO

Jun-26

$96.48

$93.48

3.11%

$3.00

$93.92

2.73%

$61.51

56.85%

 

 

 

 

Refined Products

 

 

 

OTCGH/EOXLive Market Data

 

 

 

Contract

4/21/26

4/20/26

% Change

Change

3/23/26

% Change

4/21/25

% Change

 

 

NY Heating Oil

May-26

$3.69

$3.56

3.65%

$0.13

$4.48

-17.72%

$2.04

80.43%

 

 

NY Gasoline

May-26

$3.12

$3.12

0.10%

$0.00

$3.20

-2.44%

$1.98

57.41%

 

 

GC Gasoline

May-26

$2.98

$2.98

0.10%

$0.00

$3.06

-2.55%

$1.88

58.33%

 

 

GC Jet

May-26

$3.84

$3.70

3.64%

$0.13

$4.26

-9.90%

$1.90

102.11%

 

 

Chicago Ethanol

May-26

$1.90

$1.89

0.26%

$0.00

$2.01

-5.47%

$1.62

17.14%

 

 

Rotterdam Gasoil

May-26

$951.50

$923.75

3.00%

$27.75

$970.00

-1.91%

$586.50

62.23%

 

 

Singapore Jet Kero

May-26

$156.75

$154.19

1.66%

$2.56

$156.11

0.41%

$79.23

97.84%

 

 

 

 

Implied Volatilities

 

 

 

OTCGH/EOXLive Market Data

 

 

 

Contract

4/21/26

4/20/26

% Change

Change

3/23/26

% Change

4/21/25

% Change

 

 

Henry Hub Straddle

Jun-26

49.84%

49.49%

0.71%

0.35%

71.12%

-29.92%

48.73%

2.28%

 

 

Algonquin Straddle

Jun-26

67.86%

65.31%

3.90%

2.55%

117.47%

-42.23%

50.11%

35.42%

 

 

Waha Straddle

Jun-26

211.00%

263.76%

-20.00%

-52.76%

377.65%

-44.13%

409.60%

-48.49%

 

 

Chicago Straddle

Jun-26

52.00%

52.54%

-1.03%

-0.54%

70.25%

-25.98%

51.18%

1.60%

 

 

PJM West Straddle

Jun-26

48.45%

49.64%

-2.40%

-1.19%

50.15%

-3.39%

37.93%

27.74%

 

 

SP – 15 Straddle

Jun-26

234.25%

220.90%

6.04%

13.35%

270.17%

-13.30%

102.42%

128.72%

 

 

Mid. C Straddle

Jun-26

49.79%

51.11%

-2.58%

-1.32%

40.51%

22.91%

43.76%

13.78%

 

 

 

 

Euro Gas and Power/LNG

 

 

OTCGH/EOXLive Market Data

 

 

 

Contract

4/21/26

4/20/26

% Change

Change

3/23/26

% Change

4/21/25

% Change

 

 

Dutch TTF

Jun-26

EUR 43.01

EUR 39.70

8.34%

EUR 3.31

EUR 56.38

-23.72%

EUR 31.94

34.65%

 

 

NBP

Jun-26

GBP 107.08

GBP 97.37

9.97%

GBP 9.71

GBP 140.36

-23.71%

GBP 80.28

33.38%

 

 

German Base

Jun-26

EUR 86.35

EUR 84.51

2.18%

EUR 1.84

EUR 96.44

-10.46%

EUR 65.62

31.60%

 

 

UK Base

Jun-26

GBP 86.64

GBP 87.02

-0.45%

-GBP 0.39

GBP 100.51

-13.80%

GBP 70.85

22.28%

 

 

French Base

Jun-26

EUR 28.17

EUR 27.11

3.92%

EUR 1.06

EUR 25.90

8.75%

EUR 33.95

-17.03%

 

 

Italian Base

Jun-26

EUR 116.25

EUR 113.95

2.02%

EUR 2.30

EUR 151.69

-23.36%

EUR 90.33

28.70%

 

 

JKM LNG

Jun-26

$15.35

$15.18

1.08%

$0.16

$18.55

-17.25%

$11.16

37.56%

 

 

 

 

Freight Forwards (WET & DRY)

 

OTCGH/EOXLive Market Data

 

 

 

Contract

4/21/26

4/20/26

% Change

Change

3/23/26

% Change

4/21/25

% Change

 

 

TD3C FFA Middle East to China (WET)

Jun-26

$43.01

$39.70

8.34%

$3.31

$56.38

-23.72%

$31.94

34.65%

 

 

USGC-UK Continent Dirty (WET)

Jun-26

$107.08

$97.37

9.97%

$9.71

$140.36

-23.71%

$80.28

33.38%

 

 

TD20 West Africa to UK Continent (WET)

Jun-26

$86.35

$84.51

2.18%

$1.84

$96.44

-10.46%

$65.62

31.60%

 

 

LPG FFA Middle East Gulf to East (WET)

Jun-26

$86.64

$87.02

-0.45%

-$0.39

$100.51

-13.80%

$70.85

22.28%

 

 

TC5 FFA Arabian Gulf to Japan (WET)

Jun-26

$28.17

$27.11

3.92%

$1.06

$25.90

8.75%

$33.95

-17.03%

 

 

Supramax Timecharter (DRY)

Jun-26

$116.25

$113.95

2.02%

$2.30

$151.69

-23.36%

$90.33

28.70%

 

 

Capesize Timecharter (DRY)

Jun-26

$15.35

$15.18

1.08%

$0.16

$18.55

-17.25%

$11.16

37.56%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

Cooling Degree Days

 

 

 

 

 

 

04/18/2026

Week Tot

Dev Norm

Dev L YR

Cum Tot

CumD Norm

CumD L YR

CumD Norm

CumD L YR

 

 

New England

1

1

1

1

1

1

NA

NA

 

 

Middle Atlantic

17

17

17

18

18

18

NA

NA

 

 

E N Central

12

12

12

12

11

12

NA

NA

 

 

W N Central

13

12

13

21

16

20

NA

NA

 

 

South Atlantic

39

24

29

189

42

36

29.00%

24.00%

 

 

E S Central

31

26

28

96

53

61

NA

NA

 

 

W S Central

56

36

16

290

165

106

132.00%

58.00%

 

 

Mountain

3

-5

-8

72

41

42

NA

NA

 

 

Pacific

0

-3

0

29

16

29

NA

NA

 

 

United States

21

15

14

89

41

36

NA

NA

 

 

 

 

Heating Degree Days

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

04/18/2026

Week Tot

Dev Norm

Dev L YR

Cum Tot

CumD Norm

CumD L YR

CumD Norm

CumD L YR

 

 

New England

66

-72

-74

6,058

-11

284

0.00%

5.00%

 

 

Middle Atlantic

31

-86

-88

5,352

-142

281

-3.00%

6.00%

 

 

E N Central

31

-89

-80

5,654

-389

98

-6.00%

2.00%

 

 

W N Central

58

-53

-25

5,506

-839

-286

-13.00%

-5.00%

 

 

South Atlantic

5

-37

-44

2,571

-162

38

-6.00%

2.00%

 

 

E S Central

5

-45

-47

2,999

-459

-103

-13.00%

-3.00%

 

 

W S Central

4

-17

-5

1,645

-602

-269

-27.00%

-14.00%

 

 

Mountain

100

0

24

3,581

-1,167

-782

-25.00%

-18.00%

 

 

Pacific

82

12

14

2,127

-739

-632

-26.00%

-23.00%

 

 

United States

37

-44

-39

3,758

-457

-128

-11.00%

-3.00%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gas * Power * NGL * Crude * Products * Vol * Freight * Spreads – Charts

 

 

 

 

 

Weather Forecast & Seasonal Outlook

 

 

To opt out of this email please follow this
link.

Campbell Faulkner | OTC Global Holdings

Quality Data – Reliable Service – Affordable Price

5151 San Felipe Suite 2200
Houston, TX 77056
faulkner.c@otcgh.com
eoxlive.com/market-data

 

This communication may include confidential and privileged information, is for information purposes only, is not a recommendation or a trade confirmation, is not an offer to sell, or a solicitation of an offer to buy. If you are not the intended recipient,
please advise the sender immediately and delete or destroy this communication and any copies. Use by other than intended recipients is prohibited. Delivery of this message to an unintended recipient is not intended to waive any right or privilege.

For additional disclosures, including disclosures relevant to your region, please see www.cantor.com/disclosures/electronic-communications-disclaimers-disclosures/.

For disclosures related to how your personal data is processed please see www.cantor.com/customer-privacy-notice/.

Where applicable, to stop receiving marketing emails please respond by clicking unsubscribe.