Morning Report: Gas * Power * NGL * Crude * Products * Vols — Dec-23-2022

Dec 23, 2022

  

 

 

 

 

 

 

 

 

 

Prices as of 8:14 AM CST

 

 

 

 

 

 

 

Current Price

Previous Settle

% Change

Change

Volume

 

 

Natural Gas

$4.867

$4.999

-2.64%

-$0.132

9,883

 

 

WTI

$79.52

$77.49

2.62%

$2.03

73,982

 

 

Brent

$82.91

$80.98

2.38%

$1.93

2,965

 

 

ULSD

$3.223

$3.131

2.93%

$0.092

1,310

 

 

RBOB

$2.315

$2.249

2.95%

$0.066

2,454

 

 

 

 

Spreads

 

 

 

 

 

 

 

Current

Previous

% Change

Change

Contract

 

 

WTI-Brent

$3.41

$3.49

-2.29%

-$0.08

Feb-23

 

 

3:2:1 Crack

$30.05

$29.12

3.19%

$0.93

Feb-23

 

 

PJM West Spark

$87.07

$89.29

-2.49%

-$2.22

Jan-23

 

 

 

 

Baker Hughes Rig Count

 

 

 

 

 

 

 

Date

Count

Change

1 Year Chg.

1 Year Date

 

 

U.S.

12/22/22

779

3

193

12/23/21

 

 

Canada

12/22/22

199

-103

-37

12/23/21

 

 

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

12/22/22

12/21/22

% Change

Change

11/23/22

% Change

12/23/21

% Change

 

 

PJM West On Peak

Jan-23

$97.48

$99.99

-2.51%

-$2.51

$152.84

-36.22%

$75.17

29.67%

 

 

ERCOT North On Peak

Jan-23

$72.87

$74.61

-2.33%

-$1.74

$98.72

-26.18%

$55.66

30.91%

 

 

CAISO SP 15 On Peak

Jan-23

$276.37

$237.39

16.42%

$38.98

$122.43

125.73%

$60.11

359.74%

 

 

MISO Indiana On Peak

Jan-23

$84.44

$85.57

-1.33%

-$1.14

$133.53

-36.77%

$71.71

17.74%

 

 

NEISO Mass On Peak

Jan-23

$194.30

$199.15

-2.43%

-$4.84

$333.07

-41.66%

$162.95

19.24%

 

 

WECC Mid C On Peak

Jan-23

$288.99

$291.06

-0.71%

-$2.07

$148.91

94.07%

$65.38

342.04%

 

 

NYISO Zone G On Peak

Jan-23

$163.22

$163.99

-0.47%

-$0.78

$270.13

-39.58%

$127.50

28.01%

 

 

 

 

 

Natural Gas & Basis

 

 

 

EOXLive Market Data

 

 

 

Contract

12/22/22

12/21/22

% Change

Change

11/23/22

% Change

12/23/21

% Change

 

 

NYMEX Henry Hub

Jan-23

$4.999

$5.332

-6.25%

-$0.33

$7.71

-35.15%

$4.04

23.80%

 

 

Houston Ship Channel

Jan-23

-$0.282

-$0.305

-7.58%

$0.02

$0.14

-296.72%

$0.23

-221.90%

 

 

Chicago

Jan-23

$1.148

$0.894

-22.11%

$0.25

$0.81

41.57%

$0.38

199.17%

 

 

Waha

Jan-23

-$0.120

-$0.214

-43.94%

$0.09

-$0.81

-85.18%

-$0.10

17.84%

 

 

Algonquin

Jan-23

$20.460

$19.393

5.50%

$1.07

$28.32

-27.76%

$17.06

19.96%

 

 

Aeco

Jan-23

-$0.818

-$0.911

-10.23%

$0.09

-$2.27

-63.99%

-$1.10

-26.00%

 

 

Socal

Jan-23

$24.509

$16.520

48.36%

$7.99

$3.14

680.49%

$1.09

2148.94%

 

 

 

 

 

Natural Gas Liquids

 

 

 

EOXLive Market Data

 

 

 

Contract

12/22/22

12/21/22

% Change

Change

11/23/22

% Change

12/23/21

% Change

 

 

Mt. Belvieu Propane LST

Jan-23

$0.748

$0.723

3.45%

$0.02

$0.82

-9.10%

$0.93

-19.26%

 

 

Mt. Belvieu Propane non LST

Jan-23

$0.740

$0.714

3.59%

$0.03

$0.83

-11.06%

$0.93

-20.71%

 

 

Mt. Belview Ethane

Jan-23

$0.357

$0.354

0.97%

$0.00

$0.40

-11.26%

$0.31

16.56%

 

 

Mt. Belview Nat. Gasoline

Jan-23

$1.516

$1.432

5.87%

$0.08

$1.56

-2.68%

$1.52

-0.16%

 

 

Mt. Belvieu Butane LST

Jan-23

$0.930

$0.891

4.32%

$0.04

$0.94

-1.15%

$1.04

-10.92%

 

 

Conway Propane

Jan-23

$0.761

$0.729

4.48%

$0.03

$0.87

-12.50%

$0.98

-22.27%

 

 

Conway Nat. Gasoline

Jan-23

$1.520

$1.466

3.69%

$0.05

$1.59

-4.70%

$1.51

0.69%

 

 

 

 

Crude Oil

 

 

 

EOXLive Market Data

 

 

 

Contract

12/22/22

12/21/22

% Change

Change

11/23/22

% Change

12/23/21

% Change

 

 

WTI

Feb-23

$77.49

$78.29

-1.03%

-$0.80

$78.07

-0.74%

$67.55

14.72%

 

 

Brent

Feb-23

$80.98

$82.20

-1.51%

-$1.22

$85.14

-4.89%

$71.34

13.51%

 

 

WCS

Feb-23

-$25.42

-$25.70

-1.09%

$0.28

-$28.16

-9.73%

-$15.29

66.30%

 

 

LLS

Feb-23

$79.48

$79.71

-0.29%

-$0.23

$79.53

-0.07%

$70.27

13.10%

 

 

Mars

Feb-23

$73.11

$73.02

0.11%

$0.08

$73.80

-0.94%

$66.75

9.52%

 

 

Sour

Feb-23

$73.03

$73.36

-0.45%

-$0.33

$72.77

0.35%

$66.38

10.02%

 

 

ESPO

Feb-23

$81.00

$79.61

1.73%

$1.40

$80.34

0.83%

$71.17

13.83%

 

 

 

 

Refined Products

 

 

 

EOXLive Market Data

 

 

 

Contract

12/22/22

12/21/22

% Change

Change

11/23/22

% Change

12/23/21

% Change

 

 

NY Heating Oil

Jan-23

$3.15

$3.14

0.38%

$0.01

$3.27

-3.55%

$2.20

43.03%

 

 

NY Gasoline

Jan-23

$2.27

$2.26

0.31%

$0.01

$2.34

-3.33%

$1.95

16.15%

 

 

GC Gasoline

Jan-23

$2.16

$2.16

0.32%

$0.01

$2.24

-3.48%

$1.85

17.03%

 

 

GC Jet

Jan-23

$2.83

$2.79

1.58%

$0.04

$2.81

1.03%

$2.04

39.26%

 

 

Chicago Ethanol

Jan-23

$2.23

$2.19

1.46%

$0.03

$2.31

-3.38%

$1.97

12.93%

 

 

Rotterdam Gasoil

Jan-23

$846.48

$842.44

0.48%

$4.03

$859.53

-1.52%

$590.73

43.29%

 

 

Singapore Jet Kero

Jan-23

$111.88

$112.79

-0.81%

-$0.91

$114.29

-2.11%

$81.05

38.04%

 

 

 

 

Implied Volatilities

 

 

 

EOXLive Market Data

 

 

 

Contract

12/22/22

12/21/22

% Change

Change

11/23/22

% Change

12/23/21

% Change

 

 

Henry Hub Straddle

Feb-23

127.76%

114.47%

11.61%

13.29%

130.81%

-2.33%

58.68%

117.72%

 

 

Algonquin Straddle

Feb-23

138.09%

127.26%

8.51%

10.83%

169.93%

-18.74%

96.27%

43.44%

 

 

Waha Straddle

Feb-23

150.23%

143.29%

4.84%

6.94%

157.68%

-4.72%

58.38%

157.33%

 

 

Chicago Straddle

Feb-23

120.00%

109.60%

9.49%

10.40%

119.74%

0.22%

56.29%

113.18%

 

 

PJM West Straddle

Feb-23

144.55%

149.72%

-3.45%

-5.17%

141.42%

2.21%

54.73%

164.11%

 

 

SP – 15 Straddle

Feb-23

197.61%

176.65%

11.87%

20.96%

113.41%

74.24%

25.03%

689.49%

 

 

Mid. C Straddle

Feb-23

527.86%

513.05%

2.89%

14.81%

177.14%

197.99%

35.91%

1369.95%

 

 

 

 

Euro Gas and Power/LNG

 

 

EOXLive Market Data

 

 

 

Contract

12/22/22

12/21/22

% Change

Change

11/23/22

% Change

12/23/21

% Change

 

 

Dutch TTF

Feb-23

EUR 93.85

EUR 100.00

-6.15%

-EUR 6.15

EUR 137.49

-31.74%

EUR 123.36

-23.92%

 

 

NBP

Feb-23

GBP 232.75

GBP 248.24

-6.24%

-GBP 15.49

GBP 347.00

-32.93%

GBP 305.64

-23.85%

 

 

German Base

Feb-23

EUR 258.98

EUR 265.57

-2.48%

-EUR 6.59

EUR 409.24

-36.72%

EUR 269.30

-3.83%

 

 

UK Base

Feb-23

GBP 259.37

GBP 265.76

-2.40%

-GBP 6.39

GBP 407.44

-36.34%

GBP 273.51

-5.17%

 

 

French Base

Feb-23

EUR 337.24

EUR 346.89

-2.78%

-EUR 9.65

EUR 817.74

-58.76%

EUR 334.29

0.88%

 

 

Italian Base

Feb-23

EUR 263.06

EUR 274.70

-4.24%

-EUR 11.64

EUR 365.45

-28.02%

EUR 277.83

-5.32%

 

 

JKM LNG

Feb-23

$29.55

$28.97

2.02%

$0.58

$29.28

0.94%

$43.31

-31.77%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

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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