Morning Report: Gas * Power * NGL * Crude * Products * Vols — Dec-12-2022

Dec 12, 2022

  

 

 

 

 

 

 

 

 

 

Prices as of 8:10 AM CST

 

 

 

 

 

 

 

Current Price

Previous Settle

% Change

Change

Volume

 

 

Natural Gas

$6.884

$6.245

10.23%

$0.639

37,286

 

 

WTI

$71.25

$71.02

0.32%

$0.23

82,203

 

 

Brent

$75.95

$76.10

-0.20%

-$0.15

7,347

 

 

ULSD

$2.845

$2.794

1.83%

$0.051

4,772

 

 

RBOB

$2.039

$2.056

-0.83%

-$0.017

4,654

 

 

 

 

Spreads

 

 

 

 

 

 

 

Current

Previous

% Change

Change

Contract

 

 

WTI-Brent

$4.48

$4.89

-8.38%

-$0.41

Feb-23

 

 

3:2:1 Crack

$25.41

$25.56

-0.61%

-$0.16

Jan-23

 

 

PJM West Spark

$106.33

$103.19

3.05%

$3.15

Jan-23

 

 

 

 

Baker Hughes Rig Count

 

 

 

 

 

 

 

Date

Count

Change

1 Year Chg.

1 Year Date

 

 

U.S.

12/09/22

780

-4

204

12/10/21

 

 

Canada

12/09/22

202

7

25

12/10/21

 

 

International

Nov

910

-1

93

Nov

 

 

 

 

CFTC Net Positions

 

 

 

 

 

 

As of 12/6/2022

Open Interest

Total Net Long

Total Net Short

Diff

 

 

PJM West On Peak

83,669

83,134

83,421

-287

 

 

PJM West Off Peak

78,596

77,526

78,039

-513

 

 

Natural Gas Henry Hub

433,491

414,212

423,062

-8,850

 

 

WTI – Light Sweet Crude Futures

136,490

106,576

105,487

1,089

 

 

Brent Crude Last Day

153,587

143,254

147,862

-4,608

 

 

NYM Ethanol

19,130

18,312

18,954

-642

 

 

Mt Belvieu LDH Propane Swap

128,632

127,593

127,217

376

 

 

RBOB

256,698

237,906

240,350

-2,444

 

 

HSC Basis

512,393

508,066

503,333

4,733

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

EIA Lower 48 Natural Gas Storage

 

 

 

 

12/08/17

 

 

 

12/2/22

11/25/22

Net Change

% Change

12/3/21

% Change

5 Year Avg.

% Change

 

 

East

834

840

-6

-0.71%

843

-1.07%

842

-1.00%

 

 

Midwest

1,028

1,040

-12

-1.15%

1,019

0.88%

1,009

1.88%

 

 

Mountain

193

197

-4

-2.03%

206

-6.31%

201

-3.88%

 

 

Pacific

217

226

-9

-3.98%

266

-18.42%

279

-22.33%

 

 

South

1,191

1,181

10

0.85%

1,171

1.71%

1,150

3.55%

 

 

    Salt

327

314

13

4.14%

328

-0.30%

328

-0.37%

 

 

    Non_Salt

864

867

-3

-0.35%

842

2.61%

822

5.14%

 

 

Total

3,462

3,483

-21

-0.60%

3,505

-1.23%

3,482

-0.58%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Power Generation Additions/Retirements

 

 

  

 

Front Month Prices

 

 

 

 

 

 

 

 

 

 

 

 

 

Electricity

 

 

 

EOXLive Market Data

 

 

 

Contract

12/9/22

12/8/22

% Change

Change

11/10/22

% Change

12/10/21

% Change

 

 

PJM West On Peak

Jan-23

$121.06

$116.55

3.87%

$4.51

$116.49

3.93%

$68.75

76.08%

 

 

ERCOT North On Peak

Jan-23

$91.57

$86.05

6.42%

$5.52

$91.84

-0.29%

$59.82

53.08%

 

 

CAISO SP 15 On Peak

Jan-23

$262.74

$204.56

28.44%

$58.18

$97.91

168.36%

$56.79

362.63%

 

 

MISO Indiana On Peak

Jan-23

$105.74

$103.19

2.48%

$2.56

$106.58

-0.78%

$63.50

66.51%

 

 

NEISO Mass On Peak

Jan-23

$280.57

$269.57

4.08%

$11.00

$217.87

28.78%

$126.48

121.82%

 

 

WECC Mid C On Peak

Jan-23

$241.90

$220.54

9.69%

$21.36

$126.42

91.35%

$63.79

279.24%

 

 

NYISO Zone G On Peak

Jan-23

$222.52

$212.85

4.54%

$9.67

$173.60

28.18%

$92.12

141.57%

 

 

 

 

 

Natural Gas & Basis

 

 

 

EOXLive Market Data

 

 

 

Contract

12/9/22

12/8/22

% Change

Change

11/10/22

% Change

12/10/21

% Change

 

 

NYMEX Henry Hub

Jan-23

$6.245

$5.962

4.75%

$0.28

$6.61

-5.56%

$4.24

47.36%

 

 

Houston Ship Channel

Jan-23

$0.303

$0.145

108.46%

$0.16

$0.28

6.69%

$0.25

20.66%

 

 

Chicago

Jan-23

$1.258

$0.981

-22.03%

$0.28

$0.89

41.73%

$0.35

259.13%

 

 

Waha

Jan-23

$0.038

-$0.437

-108.66%

$0.47

-$0.81

-104.70%

-$0.21

-117.83%

 

 

Algonquin

Jan-23

$28.536

$26.262

8.66%

$2.27

$19.51

46.26%

$10.04

184.23%

 

 

Aeco

Jan-23

-$1.665

-$1.645

1.24%

-$0.02

-$1.97

-15.39%

-$1.13

47.71%

 

 

Socal

Jan-23

$18.712

$14.059

33.10%

$4.65

$2.27

725.06%

$0.97

1830.30%

 

 

 

 

 

Natural Gas Liquids

 

 

 

EOXLive Market Data

 

 

 

Contract

12/9/22

12/8/22

% Change

Change

11/10/22

% Change

12/10/21

% Change

 

 

Mt. Belvieu Propane LST

Jan-23

$0.699

$0.701

-0.24%

$0.00

$0.90

-22.32%

$0.90

-22.37%

 

 

Mt. Belvieu Propane non LST

Jan-23

$0.717

$0.730

-1.87%

-$0.01

$0.89

-19.82%

$0.90

-20.02%

 

 

Mt. Belview Ethane

Jan-23

$0.351

$0.341

3.15%

$0.01

$0.40

-11.42%

$0.29

20.25%

 

 

Mt. Belview Nat. Gasoline

Jan-23

$1.360

$1.337

1.71%

$0.02

$1.60

-15.20%

$1.49

-8.53%

 

 

Mt. Belvieu Butane LST

Jan-23

$0.850

$0.832

2.14%

$0.02

$1.02

-16.73%

$1.04

-18.25%

 

 

Conway Propane

Jan-23

$0.740

$0.733

1.02%

$0.01

$0.94

-21.48%

$0.95

-22.19%

 

 

Conway Nat. Gasoline

Jan-23

$1.375

$1.347

2.09%

$0.03

$1.66

-17.28%

$1.50

-8.32%

 

 

 

 

Crude Oil

 

 

 

EOXLive Market Data

 

 

 

Contract

12/9/22

12/8/22

% Change

Change

11/10/22

% Change

12/10/21

% Change

 

 

WTI

Feb-23

$71.21

$71.58

-0.52%

-$0.37

$84.69

-15.92%

$67.55

5.42%

 

 

Brent

Feb-23

$76.10

$76.15

-0.07%

-$0.05

$92.09

-17.36%

$71.21

6.87%

 

 

WCS

Feb-23

-$25.13

-$25.76

-2.50%

$0.63

-$26.57

-5.43%

-$14.85

69.23%

 

 

LLS

Feb-23

$73.31

$73.38

-0.09%

-$0.06

$86.38

-15.13%

$68.84

6.50%

 

 

Mars

Feb-23

$66.59

$66.68

-0.14%

-$0.09

$79.07

-15.79%

$65.77

1.24%

 

 

Sour

Feb-23

$66.53

$65.89

0.96%

$0.64

$79.74

-16.56%

$64.89

2.53%

 

 

ESPO

Feb-23

$73.79

$74.13

-0.45%

-$0.33

$86.95

-15.13%

$69.57

6.07%

 

 

 

 

Refined Products

 

 

 

EOXLive Market Data

 

 

 

Contract

12/9/22

12/8/22

% Change

Change

11/10/22

% Change

12/10/21

% Change

 

 

NY Heating Oil

Jan-23

$2.81

$2.87

-2.33%

-$0.07

$3.44

-18.45%

$2.19

28.36%

 

 

NY Gasoline

Jan-23

$2.07

$2.05

0.83%

$0.02

$2.50

-17.16%

$1.96

5.72%

 

 

GC Gasoline

Jan-23

$1.97

$1.95

0.87%

$0.02

$2.40

-17.88%

$1.86

6.02%

 

 

GC Jet

Jan-23

$2.46

$2.48

-0.85%

-$0.02

$2.94

-16.20%

$2.01

22.29%

 

 

Chicago Ethanol

Jan-23

$2.09

$2.07

0.97%

$0.02

$2.27

-7.73%

$1.83

14.15%

 

 

Rotterdam Gasoil

Jan-23

$776.76

$757.09

2.60%

$19.67

$917.04

-15.30%

$577.39

34.53%

 

 

Singapore Jet Kero

Jan-23

$100.61

$94.58

6.38%

$6.03

$116.93

-13.96%

$81.61

23.29%

 

 

 

 

Implied Volatilities

 

 

 

EOXLive Market Data

 

 

 

Contract

12/9/22

12/8/22

% Change

Change

11/10/22

% Change

12/10/21

% Change

 

 

Henry Hub Straddle

Jan-23

99.07%

94.09%

5.29%

4.98%

111.81%

-11.39%

44.37%

123.28%

 

 

Algonquin Straddle

Jan-23

115.08%

115.88%

-0.69%

-0.80%

141.30%

-18.56%

50.22%

129.15%

 

 

Waha Straddle

Jan-23

132.63%

125.63%

5.57%

7.00%

143.59%

-7.63%

43.90%

202.12%

 

 

Chicago Straddle

Jan-23

96.63%

87.45%

10.50%

9.18%

98.33%

-1.73%

43.92%

120.01%

 

 

PJM West Straddle

Jan-23

175.15%

173.42%

1.00%

1.73%

117.72%

48.79%

53.70%

226.16%

 

 

SP – 15 Straddle

Jan-23

452.82%

293.96%

54.04%

158.86%

146.35%

209.41%

22.64%

1900.09%

 

 

Mid. C Straddle

Jan-23

417.76%

399.83%

4.48%

17.93%

229.04%

82.40%

33.52%

1146.30%

 

 

 

 

Euro Gas and Power/LNG

 

 

EOXLive Market Data

 

 

 

Contract

12/9/22

12/8/22

% Change

Change

11/10/22

% Change

12/10/21

% Change

 

 

Dutch TTF

Jan-23

EUR 145.95

EUR 138.50

5.38%

EUR 7.45

EUR 115.76

26.07%

EUR 66.65

118.96%

 

 

NBP

Jan-23

GBP 365.00

GBP 347.25

5.11%

GBP 17.75

GBP 303.22

20.37%

GBP 177.18

106.01%

 

 

German Base

Jan-23

EUR 371.92

EUR 381.46

-2.50%

-EUR 9.54

EUR 317.21

17.25%

EUR 175.37

112.08%

 

 

UK Base

Jan-23

GBP 484.46

GBP 486.34

-0.39%

-GBP 1.88

GBP 533.15

-9.13%

GBP 163.16

196.91%

 

 

French Base

Jan-23

EUR 654.08

EUR 667.52

-2.01%

-EUR 13.44

EUR 878.74

-25.57%

EUR 198.35

229.75%

 

 

Italian Base

Jan-23

EUR 365.18

EUR 385.46

-5.26%

-EUR 20.29

EUR 315.13

15.88%

EUR 172.79

111.35%

 

 

JKM LNG

Jan-23

$32.87

$32.76

0.35%

$0.11

$26.03

26.30%

$26.93

22.06%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

Cooling Degree Days

 

 

 

 

 

 

12/10/2022

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

12

3

1

2,161

217

-28

11.00%

-1.00%

 

 

E S Central

4

3

4

1,725

179

52

12.00%

3.00%

 

 

W S Central

23

20

3

2,912

469

317

19.00%

12.00%

 

 

Mountain

0

0

0

1,384

141

-17

11.00%

-1.00%

 

 

Pacific

0

-1

0

975

271

69

38.00%

8.00%

 

 

United States

5

3

1

1,436

224

10

18.00%

1.00%

 

 

 

 

Heating Degree Days

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

12/10/2022

Week Tot

Dev Norm

Dev L YR

Cum Tot

CumD Norm

CumD L YR

CumD Norm

CumD L YR

 

 

New England

187

-36

-30

1,429

-268

16

NA

NA

 

 

Middle Atlantic

180

-27

-9

1,305

-178

139

NA

NA

 

 

E N Central

211

-25

-7

1,579

-89

194

NA

NA

 

 

W N Central

250

-12

22

1,749

-66

342

NA

NA

 

 

South Atlantic

82

-31

-9

641

-45

48

NA

NA

 

 

E S Central

80

-67

-21

869

-31

78

NA

NA

 

 

W S Central

36

-70

-8

531

-2

164

NA

NA

 

 

Mountain

193

-8

29

1,471

-32

355

NA

NA

 

 

Pacific

145

23

29

856

-6

153

NA

NA

 

 

United States

145

-25

0

1,091

-70

154

NA

NA

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

Weather Forecast & Seasonal Outlook

 

 

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