Prices as of 7:01 AM CST

 

 

 

 

 

 

 

Current Price

Previous Settle

% Change

Change

Volume

 

 

Natural Gas

$4.430

$4.366

1.47%

$0.064

377

 

 

WTI

$58.17

$56.74

2.52%

$1.43

45,309

 

 

Brent

$62.03

$60.64

2.29%

$1.39

2,823

 

 

ULSD

$2.142

$2.107

1.68%

$0.035

1,423

 

 

RBOB

$1.726

$1.697

1.70%

$0.029

1,183

 

 

 

 

Spreads

 

 

 

 

 

 

 

Current

Previous

% Change

Change

Contract

 

 

WTI-Brent

$3.91

$3.90

0.26%

$0.01

Feb-26

 

 

3:2:1 Crack

$20.53

$20.56

-0.17%

-$0.04

Feb-26

 

 

PJM West Spark

$73.66

$72.05

2.23%

$1.60

Jan-26

 

 

 

 

Baker Hughes Rig Count

 

 

 

 

 

 

 

Date

Count

Change

1 Year Chg.

1 Year Date

 

 

U.S.

12/23/25

545

3

-44

12/27/24

 

 

Canada

12/23/25

118

-67

23

12/27/24

 

 

International

Nov-2025

1073

14

-45

Nov-2024

 

 

 

 

CFTC Net Positions

 

 

 

 

 

 

As of 12/16/2025

Open Interest

Total Net Long

Total Net Short

Diff

 

 

PJM West On Peak

127,557

127,109

127,388

-279

 

 

PJM West Off Peak

118,848

118,488

118,678

-190

 

 

Natural Gas Henry Hub

347,826

334,397

333,619

778

 

 

WTI – Light Sweet Crude Futures

166,861

137,445

130,937

6,508

 

 

Brent Crude Last Day

242,439

234,832

237,178

-2,346

 

 

NYM Ethanol

37,375

36,641

36,974

-333

 

 

Mt Belvieu LDH Propane Swap

132,376

131,740

132,013

-273

 

 

RBOB

424,463

398,335

405,726

-7,391

 

 

HSC Basis

777,373

769,843

773,352

-3,509

 

 

 

 

EIA Short Term Energy Outlook

 

 

 

 

 

 

 

2023

2024

2025 Projected

2026 Projected

 

 

Brent

$82.00

$81.00

$66.00

$59.00

 

 

Gasoline

$3.50

$3.30

$3.10

$3.10

 

 

Crude Oil Production

$12.90

$13.20

$13.40

$13.50

 

 

Natural Gas Spot

$2.50

$2.20

$4.10

$4.80

 

 

LNG Exports

12.00

12.00

15.00

16.00

 

 

 

 

 

 

 

 

 

 

Electrical Generation %

2023

2024

2025 Projected

2026 Projected

 

 

Natural gas

42.00%

42.00%

40.00%

40.00%

 

 

Coal

17.00%

16.00%

16.00%

15.00%

 

 

Renewables

22.00%

23.00%

25.00%

27.00%

 

 

Nuclear

19.00%

19.00%

19.00%

19.00%

 

 

 

 

 

 

 

 

 

 

 

Short Term Energy Outlook

 

Natural Gas Storage

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

EIA Lower 48 Natural Gas Storage

 

 

 

 

12/25/20

 

 

 

12/12/25

12/5/25

Net Change

% Change

12/13/24

% Change

5 Year Avg.

% Change

 

 

East

797

843

-46

-5.46%

822

-3.04%

813

-1.94%

 

 

Midwest

966

1,030

-64

-6.21%

1,007

-4.07%

988

-2.19%

 

 

Mountain

271

277

-6

-2.17%

274

-1.09%

216

25.46%

 

 

Pacific

304

306

-2

-0.65%

296

2.70%

260

16.83%

 

 

South

1,242

1,290

-48

-3.72%

1,222

1.64%

1,192

4.16%

 

 

    Salt

338

354

-16

-4.52%

338

0.00%

335

0.78%

 

 

    Non_Salt

903

936

-33

-3.53%

884

2.15%

857

5.42%

 

 

Total

3,579

3,746

-167

-4.46%

3,622

-1.19%

3,469

3.16%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Power Generation Additions/Retirements

 

 

  

 

Front Month Prices

 

 

 

 

 

 

 

 

 

 

 

 

 

Electricity

 

 

 

OTCGH/EOXLive Market Data

 

 

 

Contract

12/26/25

12/24/25

% Change

Change

11/26/25

% Change

12/26/24

% Change

 

 

PJM West On Peak

Jan-26

$83.13

$81.39

2.13%

$1.73

$93.40

-11.00%

$76.79

8.24%

 

 

ERCOT North On Peak

Jan-26

$46.56

$47.00

-0.94%

-$0.44

$62.98

-26.07%

$66.23

-29.69%

 

 

CAISO SP 15 On Peak

Jan-26

$35.27

$34.83

1.29%

$0.45

$50.42

-30.03%

$62.04

-43.15%

 

 

MISO Indiana On Peak

Jan-26

$58.79

$58.22

0.99%

$0.57

$82.57

-28.79%

$67.80

-13.28%

 

 

NEISO Mass On Peak

Jan-26

$159.63

$139.53

14.40%

$20.09

$144.59

10.40%

$126.41

26.28%

 

 

WECC Mid C On Peak

Jan-26

$35.03

$30.80

13.71%

$4.22

$78.68

-55.48%

$96.08

-63.54%

 

 

NYISO Zone G On Peak

Jan-26

$143.04

$125.88

13.63%

$17.16

$139.48

2.55%

$103.64

38.02%

 

 

 

 

 

Natural Gas & Basis

 

 

 

OTCGH/EOXLive Market Data

 

 

 

Contract

12/26/25

12/24/25

% Change

Change

11/26/25

% Change

12/26/24

% Change

 

 

NYMEX Henry Hub

Jan-26

$4.366

$4.242

2.92%

$0.12

$4.56

-4.21%

$4.51

-3.21%

 

 

Houston Ship Channel

Jan-26

-$0.493

-$0.452

9.08%

-$0.04

-$0.03

1336.44%

-$0.07

587.17%

 

 

Chicago

Jan-26

$0.317

$0.303

-4.17%

$0.01

$0.82

-61.53%

$0.80

-60.63%

 

 

Waha

Jan-26

-$3.736

-$3.556

-5.08%

-$0.18

-$1.41

165.74%

-$0.62

503.31%

 

 

Algonquin

Jan-26

$12.042

$11.406

5.58%

$0.64

$10.70

12.53%

$9.35

28.72%

 

 

Aeco

Jan-26

-$1.941

-$1.958

-0.88%

$0.02

-$2.09

-7.19%

-$1.99

-2.56%

 

 

Socal

Jan-26

-$0.807

-$0.761

5.98%

-$0.05

$0.24

-430.67%

$1.78

-145.39%

 

 

 

 

 

Natural Gas Liquids

 

 

 

OTCGH/EOXLive Market Data

 

 

 

Contract

12/26/25

12/24/25

% Change

Change

11/26/25

% Change

12/26/24

% Change

 

 

Mt. Belvieu Propane LST

Jan-26

$0.660

$0.657

0.40%

$0.00

$0.66

0.43%

$0.75

-11.49%

 

 

Mt. Belvieu Propane non LST

Jan-26

$0.631

$0.627

0.53%

$0.00

$0.64

-1.95%

$0.75

-15.55%

 

 

Mt. Belview Ethane

Jan-26

$0.241

$0.240

0.24%

$0.00

$0.28

-12.83%

$0.26

-8.13%

 

 

Mt. Belview Nat. Gasoline

Jan-26

$1.215

$1.205

0.80%

$0.01

$1.21

0.29%

$1.36

-10.98%

 

 

Mt. Belvieu Butane LST

Jan-26

$0.797

$0.797

0.03%

$0.00

$0.84

-5.28%

$0.89

-10.89%

 

 

Far East Propane

Jan-26

$5.286

$5.265

0.40%

$0.02

$5.02

5.25%

$5.53

-4.41%

 

 

Saudi Propane

Jan-26

$5.109

$5.080

0.57%

$0.03

$5.00

2.23%

$5.30

-3.70%

 

 

 

 

Crude Oil

 

 

 

OTCGH/EOXLive Market Data

 

 

 

Contract

12/26/25

12/24/25

% Change

Change

11/26/25

% Change

12/26/24

% Change

 

 

WTI

Feb-26

$56.74

$58.35

-2.84%

-$1.61

$58.42

-2.88%

$66.23

-14.33%

 

 

Brent

Feb-26

$60.64

$62.24

-2.64%

-$1.60

$62.54

-3.04%

$69.91

-13.26%

 

 

WCS

Feb-26

-$13.15

-$13.12

0.22%

-$0.03

-$12.77

2.97%

-$13.30

-1.11%

 

 

LLS

Feb-26

$58.09

$59.66

-2.70%

-$1.57

$59.93

-3.08%

$67.98

-14.55%

 

 

Mars

Feb-26

$55.54

$56.26

-1.31%

-$0.72

$56.85

-2.31%

$65.73

-15.51%

 

 

Sour

Feb-26

$56.99

$58.56

-2.75%

-$1.57

$58.48

-2.55%

$66.61

-14.43%

 

 

ESPO

Feb-26

$58.64

$60.24

-2.73%

-$1.60

$60.54

-3.14%

$67.91

-13.65%

 

 

 

 

Refined Products

 

 

 

OTCGH/EOXLive Market Data

 

 

 

Contract

12/26/25

12/24/25

% Change

Change

11/26/25

% Change

12/26/24

% Change

 

 

NY Heating Oil

Jan-26

$2.11

$2.16

-2.22%

-$0.05

$2.31

-8.42%

$2.19

-3.48%

 

 

NY Gasoline

Jan-26

$1.70

$1.75

-3.03%

-$0.05

$1.81

-6.24%

$1.83

-7.17%

 

 

GC Gasoline

Jan-26

$1.56

$1.61

-3.29%

-$0.05

$1.67

-6.77%

$1.73

-9.90%

 

 

GC Jet

Jan-26

$1.92

$1.98

-3.13%

-$0.06

$2.04

-6.02%

$2.04

-5.93%

 

 

Chicago Ethanol

Jan-26

$1.59

$1.59

0.00%

$0.00

$1.61

-1.24%

$1.62

-1.85%

 

 

Rotterdam Gasoil

Jan-26

$562.74

$564.42

-0.30%

-$1.68

$582.24

-3.35%

$609.06

-7.61%

 

 

Singapore Jet Kero

Jan-26

$81.58

$81.47

0.14%

$0.12

$83.69

-2.52%

$86.77

-5.98%

 

 

 

 

Implied Volatilities

 

 

 

OTCGH/EOXLive Market Data

 

 

 

Contract

12/26/25

12/24/25

% Change

Change

11/26/25

% Change

12/26/24

% Change

 

 

Henry Hub Straddle

Feb-26

78.80%

84.85%

-7.13%

-6.05%

67.82%

16.19%

46.63%

68.99%

 

 

Algonquin Straddle

Feb-26

89.42%

96.30%

-7.14%

-6.88%

79.08%

13.08%

51.22%

74.58%

 

 

Waha Straddle

Feb-26

411.52%

409.26%

0.55%

2.26%

88.86%

363.11%

60.87%

576.06%

 

 

Chicago Straddle

Feb-26

73.07%

79.52%

-8.11%

-6.45%

65.51%

11.54%

45.03%

62.27%

 

 

PJM West Straddle

Feb-26

89.33%

86.78%

2.94%

2.55%

85.55%

4.42%

73.47%

21.59%

 

 

SP – 15 Straddle

Feb-26

220.37%

214.16%

2.90%

6.21%

296.31%

-25.63%

61.36%

259.14%

 

 

Mid. C Straddle

Feb-26

0.00%

23.54%

-100.00%

-23.54%

73.50%

-100.00%

60.00%

-100.00%

 

 

 

 

Euro Gas and Power/LNG

 

 

OTCGH/EOXLive Market Data

 

 

 

Contract

12/26/25

12/24/25

% Change

Change

11/26/25

% Change

12/26/24

% Change

 

 

Dutch TTF

Feb-26

EUR 27.93

EUR 27.89

0.13%

EUR 0.04

EUR 29.38

-4.92%

EUR 41.31

-32.39%

 

 

NBP

Feb-26

GBP 72.58

GBP 72.43

0.20%

GBP 0.15

GBP 76.72

-5.39%

GBP 107.94

-32.76%

 

 

German Base

Feb-26

EUR 100.66

EUR 100.72

-0.05%

-EUR 0.05

EUR 100.25

0.41%

EUR 107.51

-6.37%

 

 

UK Base

Feb-26

GBP 81.51

GBP 82.43

-1.12%

-GBP 0.92

GBP 82.04

-0.65%

GBP 90.30

-9.73%

 

 

French Base

Feb-26

EUR 74.06

EUR 75.89

-2.41%

-EUR 1.83

EUR 69.25

6.95%

EUR 96.97

-23.63%

 

 

Italian Base

Feb-26

EUR 113.59

EUR 114.26

-0.59%

-EUR 0.67

EUR 111.37

1.99%

EUR 123.71

-8.19%

 

 

JKM LNG

Feb-26

$9.74

$9.91

-1.69%

-$0.17

$10.97

-11.15%

$13.72

-29.00%

 

 

 

 

Freight Forwards (WET & DRY)

 

OTCGH/EOXLive Market Data

 

 

 

Contract

12/26/25

12/24/25

% Change

Change

11/26/25

% Change

12/26/24

% Change

 

 

TD3C FFA Middle East to China (WET)

Feb-26

$27.93

$27.89

0.13%

$0.04

$29.38

-4.92%

$41.31

-32.39%

 

 

USGC-UK Continent Dirty (WET)

Feb-26

$72.58

$72.43

0.20%

$0.15

$76.72

-5.39%

$107.94

-32.76%

 

 

TD20 West Africa to UK Continent (WET)

Feb-26

$100.66

$100.72

-0.05%

-$0.05

$100.25

0.41%

$107.51

-6.37%

 

 

LPG FFA Middle East Gulf to East (WET)

Feb-26

$81.51

$82.43

-1.12%

-$0.92

$82.04

-0.65%

$90.30

-9.73%

 

 

TC5 FFA Arabian Gulf to Japan (WET)

Feb-26

$74.06

$75.89

-2.41%

-$1.83

$69.25

6.95%

$96.97

-23.63%

 

 

Supramax Timecharter (DRY)

Feb-26

$113.59

$114.26

-0.59%

-$0.67

$111.37

1.99%

$123.71

-8.19%

 

 

Capesize Timecharter (DRY)

Feb-26

$9.74

$9.91

-1.69%

-$0.17

$10.97

-11.15%

$13.72

-29.00%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

Cooling Degree Days

 

 

 

 

 

 

12/27/2025

Week Tot

Dev Norm

Dev L YR

Cum Tot

CumD Norm

CumD L YR

CumD Norm

CumD L YR

 

 

New England

0

0

0

549

132

-40

32.00%

-7.00%

 

 

Middle Atlantic

0

0

0

801

145

-62

22.00%

-7.00%

 

 

E N Central

0

0

0

862

153

46

22.00%

6.00%

 

 

W N Central

0

0

0

1,057

130

59

14.00%

6.00%

 

 

South Atlantic

9

3

6

2,138

178

-94

9.00%

-4.00%

 

 

E S Central

0

-1

0

1,787

240

-41

16.00%

-2.00%

 

 

W S Central

27

25

25

2,854

406

-73

17.00%

-2.00%

 

 

Mountain

0

0

0

1,342

99

-108

8.00%

-7.00%

 

 

Pacific

0

0

0

729

25

-190

4.00%

-21.00%

 

 

United States

5

4

4

1,378

162

-64

13.00%

-4.00%

 

 

 

 

Heating Degree Days

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

12/27/2025

Week Tot

Dev Norm

Dev L YR

Cum Tot

CumD Norm

CumD L YR

CumD Norm

CumD L YR

 

 

New England

269

7

-35

2,317

9

197

0.00%

9.00%

 

 

Middle Atlantic

235

-7

-47

2,021

-27

227

-1.00%

13.00%

 

 

E N Central

203

-72

-45

2,236

-74

283

-3.00%

14.00%

 

 

W N Central

185

-115

-67

2,149

-370

79

-15.00%

4.00%

 

 

South Atlantic

88

-48

-61

977

-25

82

-2.00%

9.00%

 

 

E S Central

71

-104

-98

1,185

-121

124

-9.00%

12.00%

 

 

W S Central

21

-107

-70

589

-240

37

-29.00%

7.00%

 

 

Mountain

120

-97

-36

1,440

-582

-233

-29.00%

-14.00%

 

 

Pacific

104

-28

4

862

-315

-164

-27.00%

-16.00%

 

 

United States

139

-58

-47

1,457

-166

80

-10.00%

6.00%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gas * Power * NGL * Crude * Products * Vol * Freight * Spreads – Charts

 

 

 

 

 

Weather Forecast & Seasonal Outlook

 

 

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