Morning Report: Gas * Power * NGL * Crude * Products * Vols — Feb-27-2023

Feb 27, 2023

  

 

 

 

 

 

 

 

 

 

Prices as of 8:27 AM CST

 

 

 

 

 

 

 

Current Price

Previous Settle

% Change

Change

Volume

 

 

Natural Gas

$2.712

$2.451

10.65%

$0.261

53,566

 

 

WTI

$76.12

$76.32

-0.26%

-$0.20

81,961

 

 

Brent

$82.95

$83.16

-0.25%

-$0.21

870

 

 

ULSD

$2.831

$2.796

1.23%

$0.034

2,331

 

 

RBOB

$2.362

$2.359

0.14%

$0.003

2,559

 

 

 

 

Spreads

 

 

 

 

 

 

 

Current

Previous

% Change

Change

Contract

 

 

WTI-Brent

$6.79

$6.84

-0.73%

-$0.05

Apr-23

 

 

3:2:1 Crack

$35.72

$34.70

2.94%

$1.02

Apr-23

 

 

PJM West Spark

NA

NA

NA

NA

Mar-23

 

 

 

 

Baker Hughes Rig Count

 

 

 

 

 

 

 

Date

Count

Change

1 Year Chg.

1 Year Date

 

 

U.S.

02/24/23

753

-7

103

02/25/22

 

 

Canada

02/24/23

244

-4

20

02/25/22

 

 

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

 

 

 

 

02/23/18

 

 

 

2/17/23

2/10/23

Net Change

% Change

2/18/22

% Change

5 Year Avg.

% Change

 

 

East

479

498

-19

-3.82%

396

20.96%

408

17.40%

 

 

Midwest

575

601

-26

-4.33%

450

27.78%

466

23.28%

 

 

Mountain

106

114

-8

-7.02%

105

0.95%

103

2.51%

 

 

Pacific

108

122

-14

-11.48%

176

-38.64%

180

-40.07%

 

 

South

926

931

-5

-0.54%

655

41.37%

671

38.00%

 

 

    Salt

262

262

0

0.00%

168

55.95%

189

38.77%

 

 

    Non_Salt

664

670

-6

-0.90%

487

36.34%

483

37.59%

 

 

Total

2,195

2,266

-71

-3.13%

1,782

23.18%

1,829

20.00%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Power Generation Additions/Retirements

 

 

  

 

Front Month Prices

 

 

 

 

 

 

 

 

 

 

 

 

 

Electricity

 

 

 

EOXLive Market Data

 

 

 

Contract

2/24/23

2/23/23

% Change

Change

1/26/23

% Change

2/24/22

% Change

 

 

PJM West On Peak

Mar-23

$41.03

$38.24

7.31%

$2.79

$39.91

2.82%

$59.17

-30.66%

 

 

ERCOT North On Peak

Mar-23

$30.24

$29.15

3.71%

$1.08

$36.87

-17.99%

$50.89

-40.59%

 

 

CAISO SP 15 On Peak

Mar-23

$66.54

$59.87

11.15%

$6.68

$42.67

55.96%

$49.37

34.79%

 

 

MISO Indiana On Peak

Mar-23

$41.50

$38.72

7.18%

$2.78

$38.79

6.99%

$57.11

-27.33%

 

 

NEISO Mass On Peak

Mar-23

$59.69

$57.83

3.21%

$1.86

$59.04

1.09%

$96.82

-38.35%

 

 

WECC Mid C On Peak

Mar-23

$95.95

$82.48

16.34%

$13.47

$57.82

65.94%

$46.08

108.25%

 

 

NYISO Zone G On Peak

Mar-23

$46.75

$44.47

5.13%

$2.28

$47.27

-1.10%

$82.40

-43.26%

 

 

 

 

 

Natural Gas & Basis

 

 

 

EOXLive Market Data

 

 

 

Contract

2/24/23

2/23/23

% Change

Change

1/26/23

% Change

2/24/22

% Change

 

 

NYMEX Henry Hub

Apr-23

$2.548

$2.432

4.77%

$0.12

$2.87

-11.25%

$3.58

-28.83%

 

 

Houston Ship Channel

Apr-23

-$0.307

-$0.290

5.93%

-$0.02

-$0.28

9.95%

-$0.19

61.26%

 

 

Chicago

Apr-23

$0.042

$0.047

13.10%

-$0.01

-$0.02

-337.29%

-$0.17

-124.25%

 

 

Waha

Apr-23

-$1.256

-$1.185

-6.00%

-$0.07

-$1.80

-30.06%

-$2.15

-41.59%

 

 

Algonquin

Apr-23

$0.531

$0.547

-3.05%

-$0.02

$0.87

-39.14%

$0.74

-28.03%

 

 

Aeco

Apr-23

-$0.553

-$0.499

10.83%

-$0.05

-$0.53

4.79%

-$0.86

-35.58%

 

 

Socal

Apr-23

$0.707

$0.850

-16.74%

-$0.14

$0.19

278.90%

-$0.58

-221.01%

 

 

 

 

 

Natural Gas Liquids

 

 

 

EOXLive Market Data

 

 

 

Contract

2/24/23

2/23/23

% Change

Change

1/26/23

% Change

2/24/22

% Change

 

 

Mt. Belvieu Propane LST

Mar-23

$0.825

$0.810

1.86%

$0.02

$0.94

-12.52%

$1.11

-25.82%

 

 

Mt. Belvieu Propane non LST

Mar-23

$0.829

$0.813

2.01%

$0.02

$0.94

-12.24%

$1.17

-29.15%

 

 

Mt. Belview Ethane

Mar-23

$0.224

$0.218

2.64%

$0.01

$0.26

-15.10%

$0.36

-38.31%

 

 

Mt. Belview Nat. Gasoline

Mar-23

$1.651

$1.625

1.55%

$0.03

$1.77

-6.61%

$1.83

-9.84%

 

 

Mt. Belvieu Butane LST

Mar-23

$1.085

$1.094

-0.82%

-$0.01

$1.11

-2.44%

$1.30

-16.61%

 

 

Conway Propane

Mar-23

$0.773

$0.778

-0.64%

-$0.01

$0.91

-15.07%

$1.15

-32.60%

 

 

Conway Nat. Gasoline

Mar-23

$1.669

$1.672

-0.18%

$0.00

$1.78

-6.20%

$1.85

-9.56%

 

 

 

 

Crude Oil

 

 

 

EOXLive Market Data

 

 

 

Contract

2/24/23

2/23/23

% Change

Change

1/26/23

% Change

2/24/22

% Change

 

 

WTI

Apr-23

$76.32

$75.39

1.22%

$0.93

$81.28

-6.10%

$78.90

-3.27%

 

 

Brent

Apr-23

$83.16

$82.21

1.14%

$0.95

$87.28

-4.72%

$83.64

-0.57%

 

 

WCS

Apr-23

-$16.45

-$17.40

-5.74%

$0.94

-$23.12

-28.85%

-$13.65

20.51%

 

 

LLS

Apr-23

$79.39

$78.77

0.79%

$0.63

$84.27

-5.79%

$81.13

-2.13%

 

 

Mars

Apr-23

$73.70

$73.82

-0.17%

-$0.12

$79.00

-6.70%

$77.78

-5.25%

 

 

Sour

Apr-23

$74.80

$73.60

1.61%

$1.20

$78.15

-4.29%

$78.27

-4.44%

 

 

ESPO

Apr-23

$80.65

$80.44

0.26%

$0.21

$85.09

-5.21%

$78.96

2.14%

 

 

 

 

Refined Products

 

 

 

EOXLive Market Data

 

 

 

Contract

2/24/23

2/23/23

% Change

Change

1/26/23

% Change

2/24/22

% Change

 

 

NY Heating Oil

Mar-23

$2.80

$2.70

3.70%

$0.10

$2.62

6.99%

$2.71

3.40%

 

 

NY Gasoline

Mar-23

$2.36

$2.38

-0.97%

-$0.02

$2.62

-9.97%

$2.48

-4.80%

 

 

GC Gasoline

Mar-23

$2.26

$2.28

-1.01%

-$0.02

$2.52

-10.36%

$2.38

-5.01%

 

 

GC Jet

Mar-23

$2.61

$2.86

-8.87%

-$0.25

$3.04

-14.03%

$2.47

5.50%

 

 

Chicago Ethanol

Mar-23

$2.16

$2.18

-1.05%

-$0.02

$2.17

-0.60%

$2.14

0.93%

 

 

Rotterdam Gasoil

Mar-23

$761.97

$749.48

1.67%

$12.49

$873.80

-12.80%

$745.33

2.23%

 

 

Singapore Jet Kero

Mar-23

$102.56

$100.20

2.35%

$2.36

$113.92

-9.98%

$101.26

1.28%

 

 

 

 

Implied Volatilities

 

 

 

EOXLive Market Data

 

 

 

Contract

2/24/23

2/23/23

% Change

Change

1/26/23

% Change

2/24/22

% Change

 

 

Henry Hub Straddle

Apr-23

85.37%

83.71%

1.98%

1.66%

78.85%

8.27%

37.47%

127.84%

 

 

Algonquin Straddle

Apr-23

80.88%

79.75%

1.42%

1.13%

75.03%

7.80%

35.90%

125.29%

 

 

Waha Straddle

Apr-23

179.53%

202.27%

-11.24%

-22.74%

419.58%

-57.21%

85.89%

109.02%

 

 

Chicago Straddle

Apr-23

86.78%

86.13%

0.75%

0.65%

80.52%

7.77%

38.88%

123.20%

 

 

PJM West Straddle

Apr-23

70.00%

72.72%

-3.74%

-2.72%

63.53%

10.18%

42.87%

63.28%

 

 

SP – 15 Straddle

Apr-23

125.98%

81.41%

54.75%

44.57%

85.76%

46.90%

21.73%

479.75%

 

 

Mid. C Straddle

Apr-23

152.33%

145.89%

4.41%

6.44%

127.38%

19.59%

34.41%

342.69%

 

 

 

 

Euro Gas and Power/LNG

 

 

EOXLive Market Data

 

 

 

Contract

2/24/23

2/23/23

% Change

Change

1/26/23

% Change

2/24/22

% Change

 

 

Dutch TTF

Apr-23

EUR 50.65

EUR 50.46

0.39%

EUR 0.19

EUR 55.50

-8.74%

EUR 66.03

-23.30%

 

 

NBP

Apr-23

GBP 125.89

GBP 124.90

0.79%

GBP 0.99

GBP 140.50

-10.40%

GBP 164.01

-23.24%

 

 

German Base

Apr-23

EUR 125.96

EUR 121.86

3.37%

EUR 4.11

EUR 129.28

-2.56%

EUR 154.26

-18.34%

 

 

UK Base

Apr-23

GBP 135.34

GBP 132.41

2.22%

GBP 2.93

GBP 141.57

-4.40%

GBP 146.61

-7.68%

 

 

French Base

Apr-23

EUR 138.82

EUR 134.20

3.44%

EUR 4.62

EUR 142.35

-2.48%

EUR 137.07

1.28%

 

 

Italian Base

Apr-23

EUR 146.06

EUR 143.27

1.95%

EUR 2.79

EUR 154.91

-5.71%

EUR 154.37

-5.38%

 

 

JKM LNG

Apr-23

$17.37

$16.72

3.89%

$0.65

$20.23

-14.13%

$39.26

-55.76%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

Cooling Degree Days

 

 

 

 

 

 

02/25/2023

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

19

11

5

72

12

19

NA

NA

 

 

E S Central

8

6

7

10

0

7

NA

NA

 

 

W S Central

16

12

8

36

9

18

NA

NA

 

 

Mountain

0

-1

0

0

-4

0

NA

NA

 

 

Pacific

0

-1

0

0

-3

0

NA

NA

 

 

United States

6

3

2

18

2

6

NA

NA

 

 

 

 

Heating Degree Days

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

02/25/2023

Week Tot

Dev Norm

Dev L YR

Cum Tot

CumD Norm

CumD L YR

CumD Norm

CumD L YR

 

 

New England

238

-16

4

3,935

-729

-261

-16.00%

-6.00%

 

 

Middle Atlantic

194

-41

-15

3,585

-651

-142

-15.00%

-4.00%

 

 

E N Central

210

-40

-42

4,194

-539

-75

-11.00%

-2.00%

 

 

W N Central

278

27

-40

4,821

-240

225

-5.00%

5.00%

 

 

South Atlantic

58

-59

-22

1,854

-332

-1

-15.00%

0.00%

 

 

E S Central

69

-74

-55

2,392

-404

-29

-14.00%

-1.00%

 

 

W S Central

51

-40

-72

1,726

-150

208

-8.00%

14.00%

 

 

Mountain

214

41

-15

3,918

154

551

4.00%

16.00%

 

 

Pacific

158

53

8

2,369

157

300

7.00%

14.00%

 

 

United States

151

-21

-26

3,017

-301

74

-9.00%

2.00%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

Weather Forecast & Seasonal Outlook

 

 

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