Morning Report: Gas * Power * NGL * Crude * Products * Vols — Dec-22-2022

Dec 22, 2022

  

 

 

 

 

 

 

 

 

 

Prices as of 9:53 AM CST

 

 

 

 

 

 

 

Current Price

Previous Settle

% Change

Change

Volume

 

 

Natural Gas

$5.270

$5.332

-1.16%

-$0.062

29,154

 

 

WTI

$78.11

$78.29

-0.23%

-$0.18

119,908

 

 

Brent

$82.03

$82.20

-0.21%

-$0.17

7,604

 

 

ULSD

$3.156

$3.140

0.54%

$0.017

3,665

 

 

RBOB

$2.256

$2.256

-0.01%

$0.000

3,362

 

 

 

 

Spreads

 

 

 

 

 

 

 

Current

Previous

% Change

Change

Contract

 

 

WTI-Brent

$3.94

$3.91

0.77%

$0.03

Feb-23

 

 

3:2:1 Crack

$29.11

$28.64

1.62%

$0.46

Feb-23

 

 

PJM West Spark

$88.70

$93.21

-4.84%

-$4.51

Jan-23

 

 

 

 

Baker Hughes Rig Count

 

 

 

 

 

 

 

Date

Count

Change

1 Year Chg.

1 Year Date

 

 

U.S.

12/16/22

776

-4

197

12/17/21

 

 

Canada

12/16/22

199

-3

32

12/17/21

 

 

International

Nov

910

-1

93

Nov

 

 

 

 

CFTC Net Positions

 

 

 

 

 

 

As of 12/13/2022

Open Interest

Total Net Long

Total Net Short

Diff

 

 

PJM West On Peak

89,976

89,569

89,775

-206

 

 

PJM West Off Peak

83,030

82,211

82,697

-486

 

 

Natural Gas Henry Hub

437,890

418,611

427,426

-8,815

 

 

WTI – Light Sweet Crude Futures

139,896

109,779

110,391

-612

 

 

Brent Crude Last Day

157,586

147,387

150,884

-3,497

 

 

NYM Ethanol

20,054

19,397

19,832

-435

 

 

Mt Belvieu LDH Propane Swap

133,248

132,149

131,539

610

 

 

RBOB

263,708

246,521

246,444

77

 

 

HSC Basis

519,161

514,222

511,031

3,191

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

EIA Lower 48 Natural Gas Storage

 

 

 

 

12/22/17

 

 

 

12/16/22

12/9/22

Net Change

% Change

12/17/21

% Change

5 Year Avg.

% Change

 

 

East

789

822

-33

-4.01%

809

-2.47%

775

1.86%

 

 

Midwest

974

1,002

-28

-2.79%

963

1.14%

924

5.46%

 

 

Mountain

178

186

-8

-4.30%

188

-5.32%

183

-2.63%

 

 

Pacific

186

203

-17

-8.37%

247

-24.70%

260

-28.46%

 

 

South

1,199

1,199

0

0.00%

1,155

3.81%

1,085

10.55%

 

 

    Salt

340

337

3

0.89%

334

1.80%

315

7.94%

 

 

    Non_Salt

858

862

-4

-0.46%

820

4.63%

770

11.49%

 

 

Total

3,325

3,412

-87

-2.55%

3,362

-1.10%

3,226

3.08%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Power Generation Additions/Retirements

 

 

  

 

Front Month Prices

 

 

 

 

 

 

 

 

 

 

 

 

 

Electricity

 

 

 

EOXLive Market Data

 

 

 

Contract

12/21/22

12/20/22

% Change

Change

11/22/22

% Change

12/22/21

% Change

 

 

PJM West On Peak

Jan-23

$99.99

$104.62

-4.43%

-$4.63

$151.89

-34.17%

$78.31

27.68%

 

 

ERCOT North On Peak

Jan-23

$74.61

$95.21

-21.63%

-$20.60

$92.60

-19.43%

$56.95

31.00%

 

 

CAISO SP 15 On Peak

Jan-23

$237.39

$148.22

60.16%

$89.17

$106.13

123.68%

$66.89

254.88%

 

 

MISO Indiana On Peak

Jan-23

$85.57

$86.75

-1.35%

-$1.17

$133.04

-35.68%

$74.74

14.50%

 

 

NEISO Mass On Peak

Jan-23

$199.15

$197.90

0.63%

$1.24

$323.76

-38.49%

$181.07

9.98%

 

 

WECC Mid C On Peak

Jan-23

$291.06

$263.56

10.43%

$27.50

$140.40

107.31%

$67.54

330.94%

 

 

NYISO Zone G On Peak

Jan-23

$163.99

$161.33

1.65%

$2.67

$262.45

-37.51%

$128.03

28.09%

 

 

 

 

 

Natural Gas & Basis

 

 

 

EOXLive Market Data

 

 

 

Contract

12/21/22

12/20/22

% Change

Change

11/22/22

% Change

12/22/21

% Change

 

 

NYMEX Henry Hub

Jan-23

$5.332

$5.326

0.11%

$0.01

$7.41

-28.00%

$4.16

28.17%

 

 

Houston Ship Channel

Jan-23

-$0.305

-$0.126

141.14%

-$0.18

$0.25

-221.82%

$0.24

-229.26%

 

 

Chicago

Jan-23

$0.894

$1.040

16.30%

-$0.15

$0.82

8.95%

$0.38

133.82%

 

 

Waha

Jan-23

-$0.214

$0.102

310.82%

-$0.32

-$0.87

-75.28%

-$0.11

89.73%

 

 

Algonquin

Jan-23

$19.393

$20.202

-4.00%

-$0.81

$29.56

-34.39%

$16.64

16.57%

 

 

Aeco

Jan-23

-$0.911

-$1.425

-36.10%

$0.51

-$2.22

-59.06%

-$1.12

-18.86%

 

 

Socal

Jan-23

$16.520

$12.468

32.50%

$4.05

$2.55

548.47%

$1.17

1311.75%

 

 

 

 

 

Natural Gas Liquids

 

 

 

EOXLive Market Data

 

 

 

Contract

12/21/22

12/20/22

% Change

Change

11/22/22

% Change

12/22/21

% Change

 

 

Mt. Belvieu Propane LST

Jan-23

$0.723

$0.692

4.36%

$0.03

$0.85

-15.11%

$0.92

-21.46%

 

 

Mt. Belvieu Propane non LST

Jan-23

$0.714

$0.710

0.61%

$0.00

$0.88

-18.39%

$0.91

-21.71%

 

 

Mt. Belview Ethane

Jan-23

$0.354

$0.366

-3.31%

-$0.01

$0.40

-11.91%

$0.31

15.28%

 

 

Mt. Belview Nat. Gasoline

Jan-23

$1.432

$1.396

2.60%

$0.04

$1.54

-7.11%

$1.48

-3.21%

 

 

Mt. Belvieu Butane LST

Jan-23

$0.891

$0.888

0.39%

$0.00

$0.97

-8.30%

$1.02

-13.04%

 

 

Conway Propane

Jan-23

$0.729

$0.716

1.76%

$0.01

$0.89

-17.79%

$0.95

-23.20%

 

 

Conway Nat. Gasoline

Jan-23

$1.466

$1.382

6.10%

$0.08

$1.60

-8.42%

$1.51

-2.67%

 

 

 

 

Crude Oil

 

 

 

EOXLive Market Data

 

 

 

Contract

12/21/22

12/20/22

% Change

Change

11/22/22

% Change

12/22/21

% Change

 

 

WTI

Feb-23

$78.29

$76.23

2.63%

$2.06

$80.73

-3.02%

$66.70

17.38%

 

 

Brent

Feb-23

$82.20

$79.99

2.69%

$2.21

$87.70

-6.27%

$70.35

16.84%

 

 

WCS

Feb-23

-$25.70

-$27.73

-7.91%

$2.03

-$28.79

-10.74%

-$15.13

69.87%

 

 

LLS

Feb-23

$79.71

$78.28

1.80%

$1.43

$82.64

-3.54%

$68.16

16.95%

 

 

Mars

Feb-23

$73.02

$70.28

3.75%

$2.74

$76.76

-4.88%

$64.72

12.82%

 

 

Sour

Feb-23

$73.36

$70.35

4.09%

$3.00

$76.34

-3.90%

$64.28

14.13%

 

 

ESPO

Feb-23

$79.61

$76.90

3.39%

$2.70

$84.77

-6.09%

$69.00

15.38%

 

 

 

 

Refined Products

 

 

 

EOXLive Market Data

 

 

 

Contract

12/21/22

12/20/22

% Change

Change

11/22/22

% Change

12/22/21

% Change

 

 

NY Heating Oil

Jan-23

$3.14

$3.06

2.65%

$0.08

$3.35

-6.41%

$2.20

42.49%

 

 

NY Gasoline

Jan-23

$2.26

$2.22

1.71%

$0.04

$2.44

-7.38%

$1.93

16.81%

 

 

GC Gasoline

Jan-23

$2.16

$2.12

1.79%

$0.04

$2.34

-7.70%

$1.83

17.73%

 

 

GC Jet

Jan-23

$2.79

$2.69

3.87%

$0.10

$3.01

-7.31%

$1.97

41.48%

 

 

Chicago Ethanol

Jan-23

$2.19

$2.15

1.86%

$0.04

$2.30

-4.36%

$1.93

13.55%

 

 

Rotterdam Gasoil

Jan-23

$842.44

$818.72

2.90%

$23.72

$882.26

-4.51%

$573.88

46.80%

 

 

Singapore Jet Kero

Jan-23

$112.79

$109.00

3.47%

$3.79

$113.50

-0.63%

$87.26

29.26%

 

 

 

 

Implied Volatilities

 

 

 

EOXLive Market Data

 

 

 

Contract

12/21/22

12/20/22

% Change

Change

11/22/22

% Change

12/22/21

% Change

 

 

Henry Hub Straddle

Feb-23

114.47%

121.40%

-5.71%

-6.93%

132.32%

-13.49%

49.50%

131.25%

 

 

Algonquin Straddle

Feb-23

127.26%

138.27%

-7.96%

-11.01%

174.08%

-26.90%

93.59%

35.98%

 

 

Waha Straddle

Feb-23

143.29%

175.04%

-18.14%

-31.75%

159.54%

-10.19%

49.50%

189.47%

 

 

Chicago Straddle

Feb-23

109.60%

121.23%

-9.59%

-11.63%

121.40%

-9.72%

48.43%

126.31%

 

 

PJM West Straddle

Feb-23

149.72%

143.68%

4.20%

6.04%

140.31%

6.71%

53.45%

180.11%

 

 

SP – 15 Straddle

Feb-23

176.65%

167.73%

5.32%

8.92%

103.58%

70.54%

24.88%

610.01%

 

 

Mid. C Straddle

Feb-23

513.05%

513.69%

-0.12%

-0.64%

167.87%

205.62%

37.48%

1268.86%

 

 

 

 

Euro Gas and Power/LNG

 

 

EOXLive Market Data

 

 

 

Contract

12/21/22

12/20/22

% Change

Change

11/22/22

% Change

12/22/21

% Change

 

 

Dutch TTF

Feb-23

EUR 100.00

EUR 107.00

-6.55%

-EUR 7.00

EUR 134.40

-25.60%

EUR 128.10

-21.94%

 

 

NBP

Feb-23

GBP 248.24

GBP 269.25

-7.80%

-GBP 21.01

GBP 340.00

-26.99%

GBP 330.49

-24.89%

 

 

German Base

Feb-23

EUR 265.57

EUR 285.00

-6.82%

-EUR 19.43

EUR 360.18

-26.27%

EUR 265.93

-0.14%

 

 

UK Base

Feb-23

GBP 265.76

GBP 296.27

-10.30%

-GBP 30.51

GBP 380.83

-30.21%

GBP 258.05

2.99%

 

 

French Base

Feb-23

EUR 346.89

EUR 375.75

-7.68%

-EUR 28.86

EUR 732.47

-52.64%

EUR 297.74

16.51%

 

 

Italian Base

Feb-23

EUR 274.70

EUR 288.72

-4.86%

-EUR 14.02

EUR 358.01

-23.27%

EUR 273.04

0.61%

 

 

JKM LNG

Feb-23

$28.97

$31.07

-6.75%

-$2.10

$28.36

2.16%

$43.69

-33.69%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

Cooling Degree Days

 

 

 

 

 

 

12/17/2022

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

9

1

-7

2,170

219

-34

11.00%

-2.00%

 

 

E S Central

0

-1

-2

1,725

179

50

12.00%

3.00%

 

 

W S Central

6

4

-13

2,917

472

304

19.00%

12.00%

 

 

Mountain

0

0

0

1,384

141

-17

11.00%

-1.00%

 

 

Pacific

0

0

0

975

271

69

38.00%

8.00%

 

 

United States

2

1

-3

1,438

224

8

18.00%

1.00%

 

 

 

 

Heating Degree Days

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

12/17/2022

Week Tot

Dev Norm

Dev L YR

Cum Tot

CumD Norm

CumD L YR

CumD Norm

CumD L YR

 

 

New England

241

0

84

1,669

-269

101

NA

NA

 

 

Middle Atlantic

227

4

91

1,532

-173

230

NA

NA

 

 

E N Central

214

-39

56

1,793

-128

250

NA

NA

 

 

W N Central

239

-40

47

1,988

-106

389

NA

NA

 

 

South Atlantic

114

-10

40

755

-55

88

NA

NA

 

 

E S Central

122

-37

33

990

-70

111

NA

NA

 

 

W S Central

88

-28

41

619

-30

205

NA

NA

 

 

Mountain

242

33

45

1,713

0

400

NA

NA

 

 

Pacific

159

32

5

1,015

26

158

NA

NA

 

 

United States

174

-9

47

1,265

-79

201

NA

NA

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

Weather Forecast & Seasonal Outlook

 

 

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