Morning Report: Gas * Power * NGL * Crude * Products * Vols — Feb-23-2023

Feb 23, 2023

  

 

 

 

 

 

 

 

 

 

Prices as of 8:27 AM CST

 

 

 

 

 

 

 

Current Price

Previous Settle

% Change

Change

Volume

 

 

Natural Gas

$2.261

$2.174

4.00%

$0.087

8,493

 

 

WTI

$74.93

$73.95

1.33%

$0.98

110,461

 

 

Brent

$81.50

$80.60

1.12%

$0.90

4,086

 

 

ULSD

$2.712

$2.715

-0.10%

-$0.003

1,570

 

 

RBOB

$2.356

$2.338

0.77%

$0.018

2,180

 

 

 

 

Spreads

 

 

 

 

 

 

 

Current

Previous

% Change

Change

Contract

 

 

WTI-Brent

$6.55

$6.65

-1.50%

-$0.10

Apr-23

 

 

3:2:1 Crack

$34.79

$35.28

-1.38%

-$0.49

Apr-23

 

 

PJM West Spark

$31.56

$30.77

2.55%

$0.78

Mar-23

 

 

 

 

Baker Hughes Rig Count

 

 

 

 

 

 

 

Date

Count

Change

1 Year Chg.

1 Year Date

 

 

U.S.

02/17/23

760

-1

115

02/18/22

 

 

Canada

02/17/23

248

-2

28

02/18/22

 

 

International

Jan

901

1

60

Jan

 

 

 

 

CFTC Net Positions

 

 

 

 

 

 

As of 1/24/2023

Open Interest

Total Net Long

Total Net Short

Diff

 

 

PJM West On Peak

96,035

95,644

95,871

-227

 

 

PJM West Off Peak

87,641

87,239

87,353

-114

 

 

Natural Gas Henry Hub

451,692

429,931

441,012

-11,081

 

 

WTI – Light Sweet Crude Futures

147,592

110,044

113,781

-3,737

 

 

Brent Crude Last Day

160,969

152,193

155,194

-3,001

 

 

NYM Ethanol

25,088

24,363

24,610

-247

 

 

Mt Belvieu LDH Propane Swap

139,408

138,186

138,760

-574

 

 

RBOB

318,554

295,300

304,258

-8,958

 

 

HSC Basis

539,877

535,221

531,339

3,882

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

EIA Lower 48 Natural Gas Storage

 

 

 

 

02/16/18

 

 

 

2/10/23

2/3/23

Net Change

% Change

2/11/22

% Change

5 Year Avg.

% Change

 

 

East

498

529

-31

-5.86%

435

14.48%

449

10.91%

 

 

Midwest

601

641

-40

-6.24%

496

21.17%

518

16.11%

 

 

Mountain

114

120

-6

-5.00%

114

0.00%

113

0.71%

 

 

Pacific

122

124

-2

-1.61%

177

-31.07%

192

-36.52%

 

 

South

931

951

-20

-2.10%

689

35.12%

728

27.92%

 

 

    Salt

262

271

-9

-3.32%

173

51.45%

212

23.35%

 

 

    Non_Salt

670

680

-10

-1.47%

516

29.84%

516

29.90%

 

 

Total

2,266

2,366

-100

-4.23%

1,911

18.58%

2,000

13.30%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Power Generation Additions/Retirements

 

 

  

 

Front Month Prices

 

 

 

 

 

 

 

 

 

 

 

 

 

Electricity

 

 

 

EOXLive Market Data

 

 

 

Contract

2/22/23

2/21/23

% Change

Change

1/24/23

% Change

2/22/22

% Change

 

 

PJM West On Peak

Mar-23

$36.43

$35.42

2.84%

$1.01

$46.26

-21.25%

$57.63

-36.78%

 

 

ERCOT North On Peak

Mar-23

$28.22

$26.89

4.95%

$1.33

$41.68

-32.30%

$47.70

-40.84%

 

 

CAISO SP 15 On Peak

Mar-23

$54.67

$52.90

3.35%

$1.77

$54.46

0.39%

$48.55

12.62%

 

 

MISO Indiana On Peak

Mar-23

$36.85

$35.73

3.14%

$1.12

$44.39

-16.99%

$55.48

-33.58%

 

 

NEISO Mass On Peak

Mar-23

$55.86

$56.51

-1.16%

-$0.66

$69.86

-20.05%

$91.49

-38.95%

 

 

WECC Mid C On Peak

Mar-23

$79.01

$78.95

0.08%

$0.06

$65.97

19.76%

$48.20

63.90%

 

 

NYISO Zone G On Peak

Mar-23

$42.56

$43.84

-2.92%

-$1.28

$56.80

-25.08%

$77.06

-44.77%

 

 

 

 

 

Natural Gas & Basis

 

 

 

EOXLive Market Data

 

 

 

Contract

2/22/23

2/21/23

% Change

Change

1/24/23

% Change

2/22/22

% Change

 

 

NYMEX Henry Hub

Mar-23

$2.174

$2.073

4.87%

$0.10

$3.06

-28.88%

$4.34

-49.90%

 

 

Houston Ship Channel

Mar-23

-$0.207

-$0.312

-33.72%

$0.11

-$0.38

-45.30%

-$0.16

29.38%

 

 

Chicago

Mar-23

$0.127

$0.140

10.24%

-$0.01

$0.08

54.50%

$0.00

31650.00%

 

 

Waha

Mar-23

-$0.891

-$0.870

-2.44%

-$0.02

-$1.52

-41.52%

-$1.40

-36.40%

 

 

Algonquin

Mar-23

$2.385

$3.005

-20.62%

-$0.62

$3.37

-29.15%

$5.50

-56.65%

 

 

Aeco

Mar-23

-$0.074

-$0.221

-66.49%

$0.15

-$0.33

-77.81%

-$0.94

-92.12%

 

 

Socal

Mar-23

$3.033

$2.800

8.34%

$0.23

$1.68

80.47%

$0.10

3033.68%

 

 

 

 

 

Natural Gas Liquids

 

 

 

EOXLive Market Data

 

 

 

Contract

2/22/23

2/21/23

% Change

Change

1/24/23

% Change

2/22/22

% Change

 

 

Mt. Belvieu Propane LST

Mar-23

$0.805

$0.823

-2.12%

-$0.02

$0.91

-11.74%

$1.05

-23.60%

 

 

Mt. Belvieu Propane non LST

Mar-23

$0.820

$0.838

-2.09%

-$0.02

$0.89

-7.58%

$1.09

-24.45%

 

 

Mt. Belview Ethane

Mar-23

$0.227

$0.246

-7.58%

-$0.02

$0.26

-11.69%

$0.35

-34.36%

 

 

Mt. Belview Nat. Gasoline

Mar-23

$1.629

$1.661

-1.96%

-$0.03

$1.79

-9.26%

$1.78

-8.63%

 

 

Mt. Belvieu Butane LST

Mar-23

$1.099

$1.115

-1.41%

-$0.02

$1.06

3.70%

$1.23

-10.51%

 

 

Conway Propane

Mar-23

$0.790

$0.795

-0.63%

-$0.01

$0.87

-9.45%

$1.08

-27.00%

 

 

Conway Nat. Gasoline

Mar-23

$1.654

$1.694

-2.34%

-$0.04

$1.77

-6.47%

$1.78

-7.09%

 

 

 

 

Crude Oil

 

 

 

EOXLive Market Data

 

 

 

Contract

2/22/23

2/21/23

% Change

Change

1/24/23

% Change

2/22/22

% Change

 

 

WTI

Apr-23

$73.95

$76.36

-3.26%

-$2.41

$80.44

-8.07%

$79.46

-6.93%

 

 

Brent

Apr-23

$80.60

$83.05

-3.04%

-$2.45

$86.25

-6.55%

$83.40

-3.36%

 

 

WCS

Apr-23

-$18.06

-$17.75

1.72%

-$0.31

-$21.78

-17.10%

-$14.73

22.57%

 

 

LLS

Apr-23

$76.99

$79.13

-2.77%

-$2.13

$84.08

-8.43%

$81.38

-5.39%

 

 

Mars

Apr-23

$74.65

$76.04

-1.86%

-$1.39

$78.45

-4.85%

$77.29

-3.42%

 

 

Sour

Apr-23

$72.92

$75.01

-2.87%

-$2.09

$77.19

-5.53%

$77.68

-6.13%

 

 

ESPO

Apr-23

$80.99

$81.96

-1.20%

-$0.97

$83.93

-3.51%

$80.49

0.62%

 

 

 

 

Refined Products

 

 

 

EOXLive Market Data

 

 

 

Contract

2/22/23

2/21/23

% Change

Change

1/24/23

% Change

2/22/22

% Change

 

 

NY Heating Oil

Mar-23

$2.71

$2.80

-3.04%

-$0.09

$3.34

-18.68%

$2.55

6.39%

 

 

NY Gasoline

Mar-23

$2.34

$2.42

-3.27%

-$0.08

$2.65

-11.88%

$2.34

-0.30%

 

 

GC Gasoline

Mar-23

$2.24

$2.32

-3.41%

-$0.08

$2.55

-12.34%

$2.24

-0.31%

 

 

GC Jet

Mar-23

$2.56

$2.74

-6.36%

-$0.17

$3.00

-14.51%

$2.32

10.53%

 

 

Chicago Ethanol

Mar-23

$2.21

$2.22

-0.45%

-$0.01

$2.17

1.84%

$2.05

7.70%

 

 

Rotterdam Gasoil

Mar-23

$750.53

$758.18

-1.01%

-$7.65

$901.26

-16.72%

$697.36

7.62%

 

 

Singapore Jet Kero

Mar-23

$101.82

$102.24

-0.41%

-$0.42

$119.80

-15.01%

$97.41

4.53%

 

 

 

 

Implied Volatilities

 

 

 

EOXLive Market Data

 

 

 

Contract

2/22/23

2/21/23

% Change

Change

1/24/23

% Change

2/22/22

% Change

 

 

Henry Hub Straddle

Apr-23

89.78%

111.30%

-19.34%

-21.52%

88.02%

2.00%

35.20%

155.06%

 

 

Algonquin Straddle

Apr-23

80.65%

105.76%

-23.74%

-25.11%

73.13%

10.28%

33.10%

143.66%

 

 

Waha Straddle

Apr-23

201.81%

242.70%

-16.85%

-40.89%

449.49%

-55.10%

78.65%

156.59%

 

 

Chicago Straddle

Apr-23

91.94%

115.72%

-20.55%

-23.78%

90.46%

1.64%

36.81%

149.77%

 

 

PJM West Straddle

Apr-23

72.04%

69.90%

3.06%

2.14%

66.53%

8.28%

42.64%

68.95%

 

 

SP – 15 Straddle

Apr-23

139.55%

97.76%

42.75%

41.79%

119.47%

16.81%

21.77%

541.02%

 

 

Mid. C Straddle

Apr-23

139.50%

147.92%

-5.69%

-8.42%

125.24%

11.39%

34.44%

305.05%

 

 

 

 

Euro Gas and Power/LNG

 

 

EOXLive Market Data

 

 

 

Contract

2/22/23

2/21/23

% Change

Change

1/24/23

% Change

2/22/22

% Change

 

 

Dutch TTF

Apr-23

EUR 49.24

EUR 49.50

-0.53%

-EUR 0.26

EUR 60.25

-18.27%

EUR 53.66

-8.24%

 

 

NBP

Apr-23

GBP 121.80

GBP 120.85

0.79%

GBP 0.95

GBP 150.40

-19.02%

GBP 139.09

-12.43%

 

 

German Base

Apr-23

EUR 121.25

EUR 120.00

1.04%

EUR 1.25

EUR 127.49

-4.89%

EUR 123.27

-1.64%

 

 

UK Base

Apr-23

GBP 132.39

GBP 130.40

1.53%

GBP 1.99

GBP 143.76

-7.91%

GBP 116.05

14.08%

 

 

French Base

Apr-23

EUR 134.43

EUR 135.03

-0.45%

-EUR 0.60

EUR 140.15

-4.08%

EUR 124.80

7.72%

 

 

Italian Base

Apr-23

EUR 142.10

EUR 140.88

0.86%

EUR 1.22

EUR 160.73

-11.59%

EUR 141.78

0.23%

 

 

JKM LNG

Apr-23

$17.43

$17.24

1.08%

$0.19

$20.05

-13.08%

$28.56

-38.97%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

Cooling Degree Days

 

 

 

 

 

 

02/18/2023

Week Tot

Dev Norm

Dev L YR

Cum Tot

CumD Norm

CumD L YR

CumD Norm

CumD L YR

 

 

New England

0

0

0

0

0

0

NA

NA

 

 

Middle Atlantic

0

0

0

0

0

0

NA

NA

 

 

E N Central

0

0

0

0

0

0

NA

NA

 

 

W N Central

0

0

0

0

0

0

NA

NA

 

 

South Atlantic

7

0

-1

53

1

14

NA

NA

 

 

E S Central

1

0

1

3

-5

-1

NA

NA

 

 

W S Central

3

-1

-1

21

-2

10

NA

NA

 

 

Mountain

0

-1

0

0

-3

0

NA

NA

 

 

Pacific

0

0

0

0

-2

0

NA

NA

 

 

United States

2

0

0

12

-1

4

NA

NA

 

 

 

 

Heating Degree Days

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

02/18/2023

Week Tot

Dev Norm

Dev L YR

Cum Tot

CumD Norm

CumD L YR

CumD Norm

CumD L YR

 

 

New England

182

-84

-54

3,696

-714

-265

-16.00%

-7.00%

 

 

Middle Atlantic

158

-89

-72

3,391

-610

-127

-15.00%

-4.00%

 

 

E N Central

201

-65

-76

3,984

-500

-33

-11.00%

-1.00%

 

 

W N Central

244

-25

-55

4,543

-268

265

-6.00%

6.00%

 

 

South Atlantic

86

-41

-21

1,796

-273

21

-13.00%

1.00%

 

 

E S Central

116

-40

-30

2,323

-331

25

-12.00%

1.00%

 

 

W S Central

104

1

6

1,675

-110

280

-6.00%

20.00%

 

 

Mountain

230

46

52

3,704

113

565

3.00%

18.00%

 

 

Pacific

149

40

59

2,211

104

291

5.00%

15.00%

 

 

United States

153

-30

-22

2,866

-281

100

-9.00%

4.00%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

Weather Forecast & Seasonal Outlook

 

 

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