Morning Report: Gas * Power * NGL * Crude * Products * Vols — Feb-28-2023

Feb 28, 2023

  

 

 

 

 

 

 

 

 

 

Prices as of 9:21 AM CST

 

 

 

 

 

 

 

Current Price

Previous Settle

% Change

Change

Volume

 

 

Natural Gas

$2.676

$2.731

-2.01%

-$0.055

42,549

 

 

WTI

$77.18

$75.68

1.98%

$1.50

160,509

 

 

Brent

$83.70

$82.45

1.52%

$1.25

157

 

 

ULSD

$2.819

$2.820

-0.04%

-$0.001

700

 

 

RBOB

$2.412

$2.368

1.85%

$0.044

699

 

 

 

 

Spreads

 

 

 

 

 

 

 

Current

Previous

% Change

Change

Contract

 

 

WTI-Brent

$6.46

$6.77

-4.58%

-$0.31

Apr-23

 

 

3:2:1 Crack

$35.80

$35.88

-0.21%

-$0.07

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

2/27/23

2/24/23

% Change

Change

1/27/23

% Change

2/25/22

% Change

 

 

PJM West On Peak

Mar-23

$41.36

$41.03

0.80%

$0.33

$42.39

-2.43%

$57.25

-27.75%

 

 

ERCOT North On Peak

Mar-23

$28.43

$30.24

-5.97%

-$1.81

$36.63

-22.40%

$49.40

-42.45%

 

 

CAISO SP 15 On Peak

Mar-23

$68.01

$66.54

2.21%

$1.47

$43.77

55.40%

$47.72

42.53%

 

 

MISO Indiana On Peak

Mar-23

$41.71

$41.50

0.50%

$0.21

$41.08

1.53%

$55.16

-24.39%

 

 

NEISO Mass On Peak

Mar-23

$63.49

$59.69

6.38%

$3.81

$61.35

3.48%

$93.03

-31.75%

 

 

WECC Mid C On Peak

Mar-23

$92.53

$95.95

-3.57%

-$3.42

$59.55

55.38%

$43.02

115.08%

 

 

NYISO Zone G On Peak

Mar-23

$48.96

$46.75

4.72%

$2.21

$48.06

1.87%

$79.09

-38.09%

 

 

 

 

 

Natural Gas & Basis

 

 

 

EOXLive Market Data

 

 

 

Contract

2/27/23

2/24/23

% Change

Change

1/27/23

% Change

2/25/22

% Change

 

 

NYMEX Henry Hub

Apr-23

$2.731

$2.548

7.18%

$0.18

$2.88

-5.11%

$3.46

-21.05%

 

 

Houston Ship Channel

Apr-23

-$0.382

-$0.307

24.28%

-$0.07

-$0.32

19.28%

-$0.19

101.90%

 

 

Chicago

Apr-23

-$0.002

$0.042

-1780.00%

-$0.04

$0.00

-200.00%

-$0.20

-98.72%

 

 

Waha

Apr-23

-$1.305

-$1.256

-3.91%

-$0.05

-$1.73

-24.35%

-$2.10

-37.87%

 

 

Algonquin

Apr-23

$0.498

$0.531

-6.11%

-$0.03

$0.64

-22.76%

$0.51

-3.07%

 

 

Aeco

Apr-23

-$0.744

-$0.553

34.45%

-$0.19

-$0.49

53.41%

-$0.88

-15.17%

 

 

Socal

Apr-23

$0.753

$0.707

6.45%

$0.05

$0.37

105.40%

-$0.46

-262.88%

 

 

 

 

 

Natural Gas Liquids

 

 

 

EOXLive Market Data

 

 

 

Contract

2/27/23

2/24/23

% Change

Change

1/27/23

% Change

2/25/22

% Change

 

 

Mt. Belvieu Propane LST

Mar-23

$0.825

$0.825

-0.01%

$0.00

$0.94

-12.13%

$1.08

-23.66%

 

 

Mt. Belvieu Propane non LST

Mar-23

$0.835

$0.829

0.74%

$0.01

$0.96

-12.97%

$1.08

-22.89%

 

 

Mt. Belview Ethane

Mar-23

$0.235

$0.224

4.87%

$0.01

$0.26

-10.32%

$0.35

-32.00%

 

 

Mt. Belview Nat. Gasoline

Mar-23

$1.638

$1.651

-0.78%

-$0.01

$1.69

-2.89%

$1.79

-8.70%

 

 

Mt. Belvieu Butane LST

Mar-23

$1.096

$1.085

1.05%

$0.01

$1.09

0.34%

$1.24

-11.88%

 

 

Conway Propane

Mar-23

$0.785

$0.773

1.62%

$0.01

$0.89

-12.08%

$1.10

-28.33%

 

 

Conway Nat. Gasoline

Mar-23

$1.662

$1.669

-0.41%

-$0.01

$1.70

-1.97%

$1.77

-5.92%

 

 

 

 

Crude Oil

 

 

 

EOXLive Market Data

 

 

 

Contract

2/27/23

2/24/23

% Change

Change

1/27/23

% Change

2/25/22

% Change

 

 

WTI

Apr-23

$75.68

$76.32

-0.85%

-$0.64

$79.96

-5.35%

$78.26

-3.30%

 

 

Brent

Apr-23

$82.45

$83.16

-0.86%

-$0.71

$86.40

-4.57%

$82.67

-0.27%

 

 

WCS

Apr-23

-$16.40

-$16.45

-0.30%

$0.05

-$22.65

-27.60%

-$11.38

44.09%

 

 

LLS

Apr-23

$79.23

$79.39

-0.21%

-$0.16

$82.64

-4.13%

$79.53

-0.38%

 

 

Mars

Apr-23

$74.40

$73.70

0.94%

$0.70

$77.64

-4.17%

$75.03

-0.84%

 

 

Sour

Apr-23

$74.00

$74.80

-1.07%

-$0.79

$77.09

-4.01%

$76.79

-3.63%

 

 

ESPO

Apr-23

$81.43

$80.65

0.96%

$0.78

$83.61

-2.61%

$79.64

2.26%

 

 

 

 

Refined Products

 

 

 

EOXLive Market Data

 

 

 

Contract

2/27/23

2/24/23

% Change

Change

1/27/23

% Change

2/25/22

% Change

 

 

NY Heating Oil

Mar-23

$2.81

$2.80

0.18%

$0.00

$3.18

-11.90%

$2.55

10.08%

 

 

NY Gasoline

Mar-23

$2.36

$2.36

-0.04%

$0.00

$2.58

-8.78%

$2.36

-0.04%

 

 

GC Gasoline

Mar-23

$2.26

$2.26

-0.04%

$0.00

$2.48

-9.14%

$2.26

-0.04%

 

 

GC Jet

Mar-23

$2.82

$2.61

8.20%

$0.21

$2.94

-3.95%

$2.33

21.41%

 

 

Chicago Ethanol

Mar-23

$2.14

$2.16

-0.69%

-$0.02

$2.18

-1.61%

$2.12

1.42%

 

 

Rotterdam Gasoil

Mar-23

$779.93

$761.97

2.36%

$17.96

$850.58

-8.31%

$674.61

15.61%

 

 

Singapore Jet Kero

Mar-23

$103.61

$102.56

1.03%

$1.05

$117.08

-11.50%

$96.45

7.42%

 

 

 

 

Implied Volatilities

 

 

 

EOXLive Market Data

 

 

 

Contract

2/27/23

2/24/23

% Change

Change

1/27/23

% Change

2/25/22

% Change

 

 

Henry Hub Straddle

Apr-23

81.00%

85.37%

-5.12%

-4.37%

81.00%

0.00%

39.08%

107.27%

 

 

Algonquin Straddle

Apr-23

73.36%

80.88%

-9.30%

-7.52%

81.72%

-10.23%

51.47%

42.53%

 

 

Waha Straddle

Apr-23

206.36%

179.53%

14.94%

26.83%

435.78%

-52.65%

84.79%

143.38%

 

 

Chicago Straddle

Apr-23

80.78%

86.78%

-6.91%

-6.00%

84.87%

-4.82%

41.08%

96.64%

 

 

PJM West Straddle

Apr-23

78.14%

70.00%

11.63%

8.14%

63.89%

22.30%

43.08%

81.38%

 

 

SP – 15 Straddle

Apr-23

61.72%

125.98%

-51.01%

-64.26%

46.58%

32.50%

21.78%

183.38%

 

 

Mid. C Straddle

Apr-23

164.74%

152.33%

8.15%

12.41%

126.17%

30.57%

32.25%

410.82%

 

 

 

 

Euro Gas and Power/LNG

 

 

EOXLive Market Data

 

 

 

Contract

2/27/23

2/24/23

% Change

Change

1/27/23

% Change

2/25/22

% Change

 

 

Dutch TTF

Apr-23

EUR 47.25

EUR 50.65

-6.71%

-EUR 3.40

EUR 56.53

-16.41%

EUR 52.44

-9.89%

 

 

NBP

Apr-23

GBP 116.98

GBP 125.89

-7.08%

-GBP 8.91

GBP 143.75

-18.62%

GBP 137.80

-15.11%

 

 

German Base

Apr-23

EUR 119.50

EUR 125.96

-5.13%

-EUR 6.46

EUR 126.14

-5.27%

EUR 106.86

11.83%

 

 

UK Base

Apr-23

GBP 125.11

GBP 135.34

-7.56%

-GBP 10.24

GBP 144.20

-13.24%

GBP 133.65

-6.39%

 

 

French Base

Apr-23

EUR 131.79

EUR 138.82

-5.07%

-EUR 7.03

EUR 142.16

-7.29%

EUR 147.10

-10.41%

 

 

Italian Base

Apr-23

EUR 137.67

EUR 146.06

-5.74%

-EUR 8.39

EUR 160.59

-14.27%

EUR 168.34

-18.22%

 

 

JKM LNG

Apr-23

$16.02

$17.37

-7.75%

-$1.35

$19.93

-19.63%

$36.59

-56.22%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

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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