Morning Report: Gas * Power * NGL * Crude * Products * Vols — Dec-08-2022

Dec 8, 2022

  

 

 

 

 

 

 

 

 

 

Prices as of 8:08 AM CST

 

 

 

 

 

 

 

Current Price

Previous Settle

% Change

Change

Volume

 

 

Natural Gas

$5.870

$5.723

2.57%

$0.147

17,804

 

 

WTI

$74.91

$72.01

4.03%

$2.90

157,995

 

 

Brent

$79.05

$77.17

2.44%

$1.88

10,177

 

 

ULSD

$2.845

$2.781

2.32%

$0.065

5,229

 

 

RBOB

$2.123

$2.077

2.22%

$0.046

4,774

 

 

 

 

Spreads

 

 

 

 

 

 

 

Current

Previous

% Change

Change

Contract

 

 

WTI-Brent

$4.23

$4.89

-13.50%

-$0.66

Feb-23

 

 

3:2:1 Crack

$24.62

$24.93

-1.27%

-$0.32

Jan-23

 

 

PJM West Spark

$93.89

$94.86

-1.03%

-$0.97

Jan-23

 

 

 

 

Baker Hughes Rig Count

 

 

 

 

 

 

 

Date

Count

Change

1 Year Chg.

1 Year Date

 

 

U.S.

12/02/22

784

0

215

12/03/21

 

 

Canada

12/02/22

195

1

15

12/03/21

 

 

International

Nov

910

-1

93

Nov

 

 

 

 

CFTC Net Positions

 

 

 

 

 

 

As of 11/29/2022

Open Interest

Total Net Long

Total Net Short

Diff

 

 

PJM West On Peak

86,845

86,348

86,549

-201

 

 

PJM West Off Peak

82,055

81,212

81,630

-418

 

 

Natural Gas Henry Hub

426,428

408,005

416,083

-8,078

 

 

WTI – Light Sweet Crude Futures

157,316

125,291

124,651

640

 

 

Brent Crude Last Day

164,828

155,127

157,932

-2,805

 

 

NYM Ethanol

26,617

25,711

26,296

-585

 

 

Mt Belvieu LDH Propane Swap

140,125

139,024

138,678

346

 

 

RBOB

245,980

228,400

232,837

-4,437

 

 

HSC Basis

568,843

565,756

561,261

4,495

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

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

12/7/22

12/6/22

% Change

Change

11/8/22

% Change

12/8/21

% Change

 

 

PJM West On Peak

Jan-23

$106.44

$107.10

-0.62%

-$0.66

$118.10

-9.87%

$68.40

55.62%

 

 

ERCOT North On Peak

Jan-23

$79.96

$71.91

11.19%

$8.05

$95.85

-16.58%

$59.49

34.42%

 

 

CAISO SP 15 On Peak

Jan-23

$135.63

$129.79

4.50%

$5.84

$82.06

65.28%

$60.22

125.23%

 

 

MISO Indiana On Peak

Jan-23

$95.59

$90.75

5.33%

$4.84

$108.83

-12.17%

$61.90

54.42%

 

 

NEISO Mass On Peak

Jan-23

$270.96

$255.35

6.11%

$15.61

$218.90

23.78%

$119.84

126.10%

 

 

WECC Mid C On Peak

Jan-23

$166.98

$159.17

4.90%

$7.80

$105.14

58.81%

$68.35

144.29%

 

 

NYISO Zone G On Peak

Jan-23

$209.09

$196.94

6.17%

$12.15

$170.66

22.52%

$99.03

111.15%

 

 

 

 

 

Natural Gas & Basis

 

 

 

EOXLive Market Data

 

 

 

Contract

12/7/22

12/6/22

% Change

Change

11/8/22

% Change

12/8/21

% Change

 

 

NYMEX Henry Hub

Jan-23

$5.723

$5.469

4.64%

$0.25

$6.52

-12.28%

$4.12

38.98%

 

 

Houston Ship Channel

Jan-23

$0.002

$0.061

-96.55%

-$0.06

$0.34

-99.39%

$0.25

-99.15%

 

 

Chicago

Jan-23

$0.721

$0.871

20.82%

-$0.15

$0.88

-18.44%

$0.38

87.85%

 

 

Waha

Jan-23

-$0.605

-$0.830

-27.15%

$0.23

-$0.73

-17.26%

-$0.24

153.37%

 

 

Algonquin

Jan-23

$24.931

$25.612

-2.66%

-$0.68

$20.72

20.32%

$9.95

150.65%

 

 

Aeco

Jan-23

-$1.537

-$1.682

-8.61%

$0.14

-$2.47

-37.74%

-$1.12

37.68%

 

 

Socal

Jan-23

$8.009

$6.866

16.63%

$1.14

$2.32

245.34%

$0.91

776.78%

 

 

 

 

 

Natural Gas Liquids

 

 

 

EOXLive Market Data

 

 

 

Contract

12/7/22

12/6/22

% Change

Change

11/8/22

% Change

12/8/21

% Change

 

 

Mt. Belvieu Propane LST

Jan-23

$0.705

$0.726

-2.94%

-$0.02

$0.91

-22.56%

$0.90

-21.88%

 

 

Mt. Belvieu Propane non LST

Jan-23

$0.720

$0.704

2.31%

$0.02

$0.91

-21.20%

$0.91

-21.00%

 

 

Mt. Belview Ethane

Jan-23

$0.340

$0.355

-4.26%

-$0.02

$0.40

-15.57%

$0.29

15.66%

 

 

Mt. Belview Nat. Gasoline

Jan-23

$1.424

$1.449

-1.76%

-$0.03

$1.69

-15.66%

$1.52

-6.14%

 

 

Mt. Belvieu Butane LST

Jan-23

$0.879

$0.882

-0.38%

$0.00

$1.04

-15.57%

$1.01

-13.39%

 

 

Conway Propane

Jan-23

$0.740

$0.742

-0.31%

$0.00

$0.97

-23.56%

$0.96

-23.04%

 

 

Conway Nat. Gasoline

Jan-23

$1.446

$1.469

-1.56%

-$0.02

$1.75

-17.49%

$1.53

-5.32%

 

 

 

 

Crude Oil

 

 

 

EOXLive Market Data

 

 

 

Contract

12/7/22

12/6/22

% Change

Change

11/8/22

% Change

12/8/21

% Change

 

 

WTI

Jan-23

$72.01

$74.25

-3.11%

-$2.24

$88.00

-18.17%

$68.62

4.94%

 

 

Brent

Jan-23

$76.97

$79.21

-2.90%

-$2.23

$95.36

-19.28%

$72.29

6.48%

 

 

WCS

Jan-23

-$29.08

-$32.48

-11.66%

$3.39

-$28.08

3.60%

-$15.96

82.24%

 

 

LLS

Jan-23

$73.54

$75.80

-3.08%

-$2.26

$91.66

-19.77%

$69.43

5.92%

 

 

Mars

Jan-23

$67.17

$69.58

-3.59%

-$2.41

$82.88

-18.95%

$66.26

1.37%

 

 

Sour

Jan-23

$67.32

$68.41

-1.61%

-$1.08

$83.88

-19.74%

$65.93

2.11%

 

 

ESPO

Jan-23

$75.07

$77.06

-2.66%

-$1.99

$91.65

-18.09%

$70.20

6.93%

 

 

 

 

Refined Products

 

 

 

EOXLive Market Data

 

 

 

Contract

12/7/22

12/6/22

% Change

Change

11/8/22

% Change

12/8/21

% Change

 

 

NY Heating Oil

Jan-23

$2.79

$2.91

-4.15%

-$0.12

$3.60

-22.40%

$2.19

27.24%

 

 

NY Gasoline

Jan-23

$2.08

$2.15

-3.39%

-$0.07

$2.57

-18.93%

$1.96

6.23%

 

 

GC Gasoline

Jan-23

$1.98

$2.05

-3.55%

-$0.07

$2.47

-19.70%

$1.86

6.56%

 

 

GC Jet

Jan-23

$2.56

$2.51

1.83%

$0.05

$3.15

-18.81%

$1.99

28.64%

 

 

Chicago Ethanol

Jan-23

$2.09

$2.10

-0.48%

-$0.01

$2.32

-9.95%

$1.83

14.08%

 

 

Rotterdam Gasoil

Jan-23

$762.69

$804.83

-5.24%

-$42.13

$971.41

-21.49%

$565.34

34.91%

 

 

Singapore Jet Kero

Jan-23

$101.21

$105.13

-3.73%

-$3.92

$120.82

-16.23%

$81.89

23.60%

 

 

 

 

Implied Volatilities

 

 

 

EOXLive Market Data

 

 

 

Contract

12/7/22

12/6/22

% Change

Change

11/8/22

% Change

12/8/21

% Change

 

 

Henry Hub Straddle

Jan-23

92.02%

97.98%

-6.08%

-5.96%

133.91%

-31.28%

44.82%

105.31%

 

 

Algonquin Straddle

Jan-23

121.86%

114.72%

6.22%

7.14%

162.27%

-24.90%

50.18%

142.85%

 

 

Waha Straddle

Jan-23

116.81%

108.25%

7.91%

8.56%

166.43%

-29.81%

44.49%

162.55%

 

 

Chicago Straddle

Jan-23

80.38%

79.72%

0.83%

0.66%

121.46%

-33.82%

44.15%

82.06%

 

 

PJM West Straddle

Jan-23

150.26%

150.93%

-0.44%

-0.67%

124.75%

20.45%

53.33%

181.76%

 

 

SP – 15 Straddle

Jan-23

247.81%

284.34%

-12.85%

-36.53%

124.83%

98.52%

23.04%

975.56%

 

 

Mid. C Straddle

Jan-23

323.22%

435.76%

-25.83%

-112.54%

207.33%

55.90%

32.51%

894.22%

 

 

 

 

Euro Gas and Power/LNG

 

 

EOXLive Market Data

 

 

 

Contract

12/7/22

12/6/22

% Change

Change

11/8/22

% Change

12/8/21

% Change

 

 

Dutch TTF

Jan-23

EUR 149.60

EUR 141.25

5.91%

EUR 8.35

EUR 124.53

20.13%

EUR 63.70

134.85%

 

 

NBP

Jan-23

GBP 377.75

GBP 352.00

7.32%

GBP 25.75

GBP 325.00

16.23%

GBP 169.32

123.10%

 

 

German Base

Jan-23

EUR 389.48

EUR 357.95

8.81%

EUR 31.53

EUR 333.26

16.87%

EUR 162.97

138.99%

 

 

UK Base

Jan-23

GBP 521.81

GBP 529.55

-1.46%

-GBP 7.74

GBP 638.05

-18.22%

GBP 154.21

238.37%

 

 

French Base

Jan-23

EUR 719.71

EUR 697.83

3.13%

EUR 21.88

EUR 916.96

-21.51%

EUR 186.98

284.92%

 

 

Italian Base

Jan-23

EUR 383.03

EUR 356.67

7.39%

EUR 26.36

EUR 338.23

13.25%

EUR 158.66

141.41%

 

 

JKM LNG

Jan-23

$35.91

$33.00

8.82%

$2.91

$29.35

22.33%

$22.94

56.55%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

Cooling Degree Days

 

 

 

 

 

 

12/03/2022

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

14

4

10

2,149

214

-28

11.00%

-1.00%

 

 

E S Central

0

-1

0

1,721

176

49

11.00%

3.00%

 

 

W S Central

1

-3

-5

2,889

449

313

18.00%

12.00%

 

 

Mountain

0

0

-1

1,384

141

-17

11.00%

-1.00%

 

 

Pacific

0

-1

0

975

271

69

38.00%

8.00%

 

 

United States

3

1

1

1,431

221

10

18.00%

1.00%

 

 

 

 

Heating Degree Days

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

12/03/2022

Week Tot

Dev Norm

Dev L YR

Cum Tot

CumD Norm

CumD L YR

CumD Norm

CumD L YR

 

 

New England

180

-25

-36

1,241

-233

46

NA

NA

 

 

Middle Atlantic

171

-19

-20

1,124

-152

149

NA

NA

 

 

E N Central

203

-14

10

1,368

-64

201

NA

NA

 

 

W N Central

246

3

92

1,499

-55

320

NA

NA

 

 

South Atlantic

84

-18

-18

560

-13

57

NA

NA

 

 

E S Central

114

-20

-5

789

35

99

NA

NA

 

 

W S Central

84

-11

24

495

68

172

NA

NA

 

 

Mountain

203

12

89

1,277

-25

325

NA

NA

 

 

Pacific

141

26

84

710

-30

124

NA

NA

 

 

United States

150

-7

21

945

-46

154

NA

NA

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

Weather Forecast & Seasonal Outlook

 

 

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