Morning Report: Gas * Power * NGL * Crude * Products * Vols — Dec-02-2022

Dec 2, 2022

  

 

 

 

 

 

 

 

 

 

Prices as of 8:46 AM CST

 

 

 

 

 

 

 

Current Price

Previous Settle

% Change

Change

Volume

 

 

Natural Gas

$6.519

$6.738

-3.25%

-$0.219

34,912

 

 

WTI

$81.61

$81.22

0.48%

$0.39

110,273

 

 

Brent

$87.09

$85.42

1.96%

$1.67

11,001

 

 

ULSD

$3.252

$3.262

-0.32%

-$0.011

8,360

 

 

RBOB

$2.331

$2.342

-0.46%

-$0.011

5,083

 

 

 

 

Spreads

 

 

 

 

 

 

 

Current

Previous

% Change

Change

Contract

 

 

WTI-Brent

$5.57

$5.74

-2.96%

-$0.17

Feb-23

 

 

3:2:1 Crack

$28.69

$29.41

-2.45%

-$0.72

Jan-23

 

 

PJM West Spark

$132.26

$131.72

0.41%

$0.53

Jan-23

 

 

 

 

Baker Hughes Rig Count

 

 

 

 

 

 

 

Date

Count

Change

1 Year Chg.

1 Year Date

 

 

U.S.

11/23/22

784

2

215

11/24/21

 

 

Canada

11/23/22

194

-7

23

11/24/21

 

 

International

Nov

910

-1

93

Nov

 

 

 

 

CFTC Net Positions

 

 

 

 

 

 

As of 11/22/2022

Open Interest

Total Net Long

Total Net Short

Diff

 

 

PJM West On Peak

86,423

85,933

86,127

-194

 

 

PJM West Off Peak

82,160

81,390

81,745

-355

 

 

Natural Gas Henry Hub

453,173

436,791

443,398

-6,607

 

 

WTI – Light Sweet Crude Futures

153,695

123,530

119,483

4,047

 

 

Brent Crude Last Day

159,633

149,871

153,561

-3,690

 

 

NYM Ethanol

25,183

24,292

24,791

-499

 

 

Mt Belvieu LDH Propane Swap

137,002

135,815

135,545

270

 

 

RBOB

265,026

245,253

251,705

-6,452

 

 

HSC Basis

563,884

559,765

554,933

4,832

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

EIA Lower 48 Natural Gas Storage

 

 

 

 

12/01/17

 

 

 

11/25/22

11/18/22

Net Change

% Change

11/26/21

% Change

5 Year Avg.

% Change

 

 

East

840

866

-26

-3.00%

867

-3.11%

862

-2.60%

 

 

Midwest

1,040

1,063

-23

-2.16%

1,043

-0.29%

1,035

0.44%

 

 

Mountain

197

203

-6

-2.96%

206

-4.37%

207

-4.83%

 

 

Pacific

226

232

-6

-2.59%

263

-14.07%

287

-21.14%

 

 

South

1,181

1,200

-19

-1.58%

1,185

-0.34%

1,165

1.37%

 

 

    Salt

314

318

-4

-1.26%

335

-6.27%

328

-4.38%

 

 

    Non_Salt

867

882

-15

-1.70%

851

1.88%

837

3.61%

 

 

Total

3,483

3,564

-81

-2.27%

3,564

-2.27%

3,556

-2.05%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Power Generation Additions/Retirements

 

 

  

 

Front Month Prices

 

 

 

 

 

 

 

 

 

 

 

 

 

Electricity

 

 

 

EOXLive Market Data

 

 

 

Contract

12/1/22

11/30/22

% Change

Change

11/2/22

% Change

12/2/21

% Change

 

 

PJM West On Peak

Jan-23

$146.23

$146.14

0.06%

$0.09

$122.70

19.17%

$66.98

118.30%

 

 

ERCOT North On Peak

Jan-23

$92.69

$96.25

-3.71%

-$3.57

$89.88

3.13%

$57.23

61.94%

 

 

CAISO SP 15 On Peak

Jan-23

$141.63

$123.56

14.63%

$18.08

$95.46

48.37%

$59.37

138.55%

 

 

MISO Indiana On Peak

Jan-23

$123.65

$124.38

-0.58%

-$0.72

$112.80

9.62%

$60.86

103.17%

 

 

NEISO Mass On Peak

Jan-23

$322.57

$317.23

1.68%

$5.33

$228.28

41.31%

$114.53

181.66%

 

 

WECC Mid C On Peak

Jan-23

$177.32

$166.61

6.43%

$10.71

$119.60

48.27%

$69.44

155.35%

 

 

NYISO Zone G On Peak

Jan-23

$259.75

$254.82

1.94%

$4.93

$177.67

46.20%

$89.78

189.32%

 

 

 

 

 

Natural Gas & Basis

 

 

 

EOXLive Market Data

 

 

 

Contract

12/1/22

11/30/22

% Change

Change

11/2/22

% Change

12/2/21

% Change

 

 

NYMEX Henry Hub

Jan-23

$6.738

$6.930

-2.77%

-$0.19

$6.59

2.26%

$4.15

62.24%

 

 

Houston Ship Channel

Jan-23

$0.145

$0.163

-11.12%

-$0.02

$0.38

-61.69%

$0.22

-34.50%

 

 

Chicago

Jan-23

$0.845

$0.862

2.00%

-$0.02

$0.80

5.09%

$0.39

119.45%

 

 

Waha

Jan-23

-$0.631

-$0.678

-6.97%

$0.05

-$0.72

-11.83%

-$0.23

180.24%

 

 

Algonquin

Jan-23

$28.738

$29.251

-1.75%

-$0.51

$24.99

15.00%

$9.71

196.09%

 

 

Aeco

Jan-23

-$2.126

-$2.368

-10.23%

$0.24

-$1.71

24.06%

-$1.22

73.86%

 

 

Socal

Jan-23

$5.724

$4.407

29.87%

$1.32

$2.29

150.46%

$0.83

589.28%

 

 

 

 

 

Natural Gas Liquids

 

 

 

EOXLive Market Data

 

 

 

Contract

12/1/22

11/30/22

% Change

Change

11/2/22

% Change

12/2/21

% Change

 

 

Mt. Belvieu Propane LST

Jan-23

$0.787

$0.798

-1.26%

-$0.01

$0.90

-12.62%

$0.83

-5.53%

 

 

Mt. Belvieu Propane non LST

Jan-23

$0.790

$0.798

-0.95%

-$0.01

$0.90

-12.30%

$0.81

-2.64%

 

 

Mt. Belview Ethane

Jan-23

$0.417

$0.402

3.54%

$0.01

$0.39

6.28%

$0.29

41.60%

 

 

Mt. Belview Nat. Gasoline

Jan-23

$1.567

$1.522

2.96%

$0.04

$1.69

-7.46%

$1.35

16.37%

 

 

Mt. Belvieu Butane LST

Jan-23

$0.934

$0.936

-0.26%

$0.00

$1.02

-8.67%

$0.93

0.32%

 

 

Conway Propane

Jan-23

$0.826

$0.835

-1.10%

-$0.01

$0.94

-11.67%

$0.88

-5.98%

 

 

Conway Nat. Gasoline

Jan-23

$1.636

$1.588

2.98%

$0.05

$1.73

-5.21%

$1.35

20.87%

 

 

 

 

Crude Oil

 

 

 

EOXLive Market Data

 

 

 

Contract

12/1/22

11/30/22

% Change

Change

11/2/22

% Change

12/2/21

% Change

 

 

WTI

Jan-23

$80.55

$80.55

0.00%

$0.00

$88.86

-9.35%

$63.13

27.59%

 

 

Brent

Jan-23

$87.00

$87.00

0.00%

$0.00

$96.16

-9.53%

$66.52

30.79%

 

 

WCS

Jan-23

-$28.00

-$29.41

-5.05%

$1.41

-$28.08

-0.26%

-$15.78

77.48%

 

 

LLS

Jan-23

$83.62

$83.14

0.57%

$0.48

$89.27

-6.34%

$58.63

42.61%

 

 

Mars

Jan-23

$76.95

$76.64

0.40%

$0.31

$82.45

-6.67%

$55.52

38.58%

 

 

Sour

Jan-23

$76.75

$75.84

1.19%

$0.91

$84.74

-9.43%

$58.90

30.30%

 

 

ESPO

Jan-23

$84.69

$83.57

1.32%

$1.12

$90.28

-6.19%

$59.53

42.26%

 

 

 

 

Refined Products

 

 

 

EOXLive Market Data

 

 

 

Contract

12/1/22

11/30/22

% Change

Change

11/2/22

% Change

12/2/21

% Change

 

 

NY Heating Oil

Jan-23

$3.26

$3.33

-1.86%

-$0.06

$3.54

-7.72%

$2.02

61.86%

 

 

NY Gasoline

Jan-23

$2.41

$2.38

0.92%

$0.02

$2.59

-7.07%

$1.77

35.68%

 

 

GC Gasoline

Jan-23

$2.31

$2.29

0.96%

$0.02

$2.49

-7.35%

$1.67

37.81%

 

 

GC Jet

Jan-23

$2.94

$2.89

1.87%

$0.05

$3.03

-2.90%

$1.84

59.86%

 

 

Chicago Ethanol

Jan-23

$2.20

$2.25

-2.13%

-$0.05

$2.35

-6.46%

$1.88

16.82%

 

 

Rotterdam Gasoil

Jan-23

$874.68

$873.54

0.13%

$1.14

$929.61

-5.91%

$523.03

67.23%

 

 

Singapore Jet Kero

Jan-23

$115.88

$113.89

1.74%

$1.98

$116.58

-0.61%

$75.71

53.05%

 

 

 

 

Implied Volatilities

 

 

 

EOXLive Market Data

 

 

 

Contract

12/1/22

11/30/22

% Change

Change

11/2/22

% Change

12/2/21

% Change

 

 

Henry Hub Straddle

Jan-23

107.26%

108.20%

-0.87%

-0.94%

105.24%

1.92%

44.96%

138.57%

 

 

Algonquin Straddle

Jan-23

149.04%

137.67%

8.26%

11.37%

123.52%

20.66%

48.92%

204.66%

 

 

Waha Straddle

Jan-23

142.04%

127.07%

11.78%

14.97%

123.89%

14.65%

46.07%

208.31%

 

 

Chicago Straddle

Jan-23

95.84%

96.15%

-0.32%

-0.31%

96.30%

-0.48%

44.96%

113.17%

 

 

PJM West Straddle

Jan-23

152.34%

155.33%

-1.92%

-2.99%

120.18%

26.76%

52.92%

187.87%

 

 

SP – 15 Straddle

Jan-23

198.70%

189.22%

5.01%

9.48%

151.68%

31.00%

28.18%

605.11%

 

 

Mid. C Straddle

Jan-23

432.93%

246.32%

75.76%

186.61%

221.74%

95.24%

35.45%

1121.24%

 

 

 

 

Euro Gas and Power/LNG

 

 

EOXLive Market Data

 

 

 

Contract

12/1/22

11/30/22

% Change

Change

11/2/22

% Change

12/2/21

% Change

 

 

Dutch TTF

Jan-23

EUR 137.00

EUR 146.00

-6.16%

-EUR 9.00

EUR 142.10

-3.59%

EUR 45.28

202.53%

 

 

NBP

Jan-23

GBP 343.00

GBP 368.50

-6.92%

-GBP 25.50

GBP 364.50

-5.90%

GBP 120.39

184.91%

 

 

German Base

Jan-23

EUR 401.57

EUR 370.77

8.31%

EUR 30.80

EUR 405.12

-0.88%

EUR 127.02

216.14%

 

 

UK Base

Jan-23

GBP 588.12

GBP 516.52

13.86%

GBP 71.60

GBP 720.89

-18.42%

GBP 122.62

379.62%

 

 

French Base

Jan-23

EUR 785.94

EUR 738.07

6.49%

EUR 47.87

EUR 1,051.19

-25.23%

EUR 140.12

460.91%

 

 

Italian Base

Jan-23

EUR 347.19

EUR 377.43

-8.01%

-EUR 30.24

EUR 347.48

-0.08%

EUR 134.18

158.75%

 

 

JKM LNG

Jan-23

$34.67

$34.89

-0.62%

-$0.22

$29.71

16.70%

$17.47

98.46%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

Cooling Degree Days

 

 

 

 

 

 

11/26/2022

Week Tot

Dev Norm

Dev L YR

Cum Tot

CumD Norm

CumD L YR

CumD Norm

CumD L YR

 

 

New England

0

0

0

652

235

-4

56.00%

-1.00%

 

 

Middle Atlantic

0

0

0

856

200

-57

30.00%

-6.00%

 

 

E N Central

0

0

0

826

117

-141

17.00%

-15.00%

 

 

W N Central

0

0

0

1,090

163

-28

18.00%

-3.00%

 

 

South Atlantic

13

2

4

2,136

210

-38

11.00%

-2.00%

 

 

E S Central

0

-1

0

1,721

177

49

11.00%

3.00%

 

 

W S Central

0

-4

-5

2,888

451

318

19.00%

12.00%

 

 

Mountain

0

0

-1

1,384

141

-16

11.00%

-1.00%

 

 

Pacific

0

-1

0

975

272

69

39.00%

8.00%

 

 

United States

2

-1

0

1,428

220

8

18.00%

1.00%

 

 

 

 

Heating Degree Days

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

11/26/2022

Week Tot

Dev Norm

Dev L YR

Cum Tot

CumD Norm

CumD L YR

CumD Norm

CumD L YR

 

 

New England

209

22

18

1,061

-208

82

NA

NA

 

 

Middle Atlantic

188

15

5

954

-133

169

NA

NA

 

 

E N Central

204

7

-4

1,165

-50

191

NA

NA

 

 

W N Central

208

-14

5

1,253

-57

228

NA

NA

 

 

South Atlantic

99

8

-12

475

4

76

NA

NA

 

 

E S Central

135

15

-8

674

54

104

NA

NA

 

 

W S Central

109

26

44

411

79

149

NA

NA

 

 

Mountain

189

12

45

1,074

-37

236

NA

NA

 

 

Pacific

94

-12

11

569

-56

40

NA

NA

 

 

United States

150

8

8

796

-38

133

NA

NA

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

Weather Forecast & Seasonal Outlook

 

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