Prices as of 7:00 AM CST

 

 

 

 

 

 

 

Current Price

Previous Settle

% Change

Change

Volume

 

 

Natural Gas

$3.635

$3.686

-1.38%

-$0.051

24,778

 

 

WTI

$57.04

$57.42

-0.66%

-$0.38

43,835

 

 

Brent

$60.43

$61.96

-2.47%

-$1.53

12,125

 

 

ULSD

$2.119

$2.121

-0.07%

-$0.001

3,439

 

 

RBOB

$1.701

$1.705

-0.27%

-$0.005

5,234

 

 

 

 

Spreads

 

 

 

 

 

 

 

Current

Previous

% Change

Change

Contract

 

 

WTI-Brent

$3.57

$3.63

-1.65%

-$0.06

Mar-26

 

 

3:2:1 Crack

$21.06

$20.99

0.32%

$0.07

Feb-26

 

 

PJM West Spark

NA

NA

NA

NA

Jan-26

 

 

 

 

Baker Hughes Rig Count

 

 

 

 

 

 

 

Date

Count

Change

1 Year Chg.

1 Year Date

 

 

U.S.

12/30/26

546

1

-43

01/03/25

 

 

Canada

12/30/26

101

-17

7

01/03/25

 

 

International

Dec-2025

1065

-8

-49

Dec-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

 

 

 

12/19/25

12/12/25

Net Change

% Change

12/20/24

% Change

5 Year Avg.

% Change

 

 

East

751

797

-46

-5.77%

792

-5.18%

786

-4.48%

 

 

Midwest

904

966

-62

-6.42%

960

-5.83%

947

-4.54%

 

 

Mountain

266

271

-5

-1.85%

267

-0.37%

210

26.79%

 

 

Pacific

303

304

-1

-0.33%

293

3.41%

252

20.05%

 

 

South

1,190

1,242

-52

-4.19%

1,217

-2.22%

1,168

1.90%

 

 

    Salt

323

338

-15

-4.44%

349

-7.45%

332

-2.77%

 

 

    Non_Salt

867

903

-36

-3.99%

868

-0.12%

836

3.76%

 

 

Total

3,413

3,579

-166

-4.64%

3,529

-3.29%

3,363

1.47%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Power Generation Additions/Retirements

 

 

  

 

Front Month Prices

 

 

 

 

 

 

 

 

 

 

 

 

 

Electricity

 

 

 

OTCGH/EOXLive Market Data

 

 

 

Contract

12/31/25

12/30/25

% Change

Change

12/2/25

% Change

12/31/24

% Change

 

 

PJM West On Peak

Jan-26

$83.64

$88.94

-5.96%

-$5.30

$93.94

-10.97%

$79.58

5.10%

 

 

ERCOT North On Peak

Jan-26

$48.68

$49.39

-1.44%

-$0.71

$63.48

-23.31%

$68.89

-29.34%

 

 

CAISO SP 15 On Peak

Jan-26

$35.00

$37.83

-7.48%

-$2.83

$48.12

-27.26%

$69.44

-49.59%

 

 

MISO Indiana On Peak

Jan-26

$64.05

$62.01

3.29%

$2.04

$82.74

-22.59%

$70.45

-9.08%

 

 

NEISO Mass On Peak

Jan-26

$145.34

$150.33

-3.32%

-$4.99

$155.36

-6.45%

$133.48

8.89%

 

 

WECC Mid C On Peak

Jan-26

$35.98

$36.75

-2.09%

-$0.77

$71.00

-49.32%

$97.47

-63.08%

 

 

NYISO Zone G On Peak

Jan-26

$128.56

$135.34

-5.01%

-$6.78

$137.78

-6.69%

$110.34

16.51%

 

 

 

 

 

Natural Gas & Basis

 

 

 

OTCGH/EOXLive Market Data

 

 

 

Contract

12/31/25

12/30/25

% Change

Change

12/2/25

% Change

12/31/24

% Change

 

 

NYMEX Henry Hub

Feb-26

$3.686

$3.972

-7.20%

-$0.29

$4.45

-17.13%

$4.34

-15.13%

 

 

Houston Ship Channel

Feb-26

-$0.434

-$0.483

-10.19%

$0.05

-$0.09

391.05%

-$0.07

502.22%

 

 

Chicago

Feb-26

$0.319

$0.390

22.24%

-$0.07

$0.74

-56.90%

$0.80

-60.27%

 

 

Waha

Feb-26

-$2.544

-$3.119

-18.42%

$0.57

-$1.88

35.31%

-$0.64

299.15%

 

 

Algonquin

Feb-26

$9.467

$10.126

-6.51%

-$0.66

$9.27

2.10%

$8.54

10.81%

 

 

Aeco

Feb-26

-$1.729

-$1.866

-7.35%

$0.14

-$1.99

-13.33%

-$1.89

-8.66%

 

 

Socal

Feb-26

-$0.529

-$0.554

-4.60%

$0.03

$0.03

-1961.97%

$0.88

-160.34%

 

 

 

 

 

Natural Gas Liquids

 

 

 

OTCGH/EOXLive Market Data

 

 

 

Contract

12/31/25

12/30/25

% Change

Change

12/2/25

% Change

12/31/24

% Change

 

 

Mt. Belvieu Propane LST

Jan-26

$0.635

$0.650

-2.24%

-$0.01

$0.67

-4.63%

$0.77

-17.49%

 

 

Mt. Belvieu Propane non LST

Jan-26

$0.608

$0.619

-1.81%

-$0.01

$0.67

-9.05%

$0.77

-20.64%

 

 

Mt. Belview Ethane

Jan-26

$0.237

$0.243

-2.08%

-$0.01

$0.29

-18.14%

$0.29

-18.41%

 

 

Mt. Belview Nat. Gasoline

Jan-26

$1.202

$1.198

0.41%

$0.00

$1.23

-2.25%

$1.42

-15.51%

 

 

Mt. Belvieu Butane LST

Jan-26

$0.766

$0.787

-2.71%

-$0.02

$0.87

-12.14%

$0.91

-16.25%

 

 

Far East Propane

Jan-26

$5.280

$5.273

0.13%

$0.01

$5.06

4.41%

$5.62

-6.11%

 

 

Saudi Propane

Jan-26

$5.277

$5.203

1.42%

$0.07

$5.00

5.51%

$5.42

-2.57%

 

 

 

 

Crude Oil

 

 

 

OTCGH/EOXLive Market Data

 

 

 

Contract

12/31/25

12/30/25

% Change

Change

12/2/25

% Change

12/31/24

% Change

 

 

WTI

Feb-26

$57.42

$57.95

-0.92%

-$0.53

$58.38

-1.64%

$67.60

-15.06%

 

 

Brent

Feb-26

$60.99

$61.94

-1.56%

-$0.95

$62.45

-2.34%

$71.29

-14.45%

 

 

WCS

Feb-26

-$13.13

-$13.00

0.98%

-$0.13

-$12.42

5.67%

-$13.80

-4.88%

 

 

LLS

Feb-26

$59.31

$59.33

-0.03%

-$0.01

$59.75

-0.74%

$68.88

-13.89%

 

 

Mars

Feb-26

$55.64

$56.11

-0.84%

-$0.47

$57.47

-3.17%

$66.23

-15.98%

 

 

Sour

Feb-26

$58.12

$58.14

-0.04%

-$0.02

$58.90

-1.32%

$67.08

-13.36%

 

 

ESPO

Feb-26

$58.99

$59.94

-1.61%

-$0.95

$60.45

-2.42%

$69.29

-14.87%

 

 

 

 

Refined Products

 

 

 

OTCGH/EOXLive Market Data

 

 

 

Contract

12/31/25

12/30/25

% Change

Change

12/2/25

% Change

12/31/24

% Change

 

 

NY Heating Oil

Jan-26

$2.12

$2.15

-1.35%

-$0.03

$2.31

-8.23%

$2.24

-5.53%

 

 

NY Gasoline

Jan-26

$1.70

$1.73

-1.73%

-$0.03

$1.83

-7.10%

$1.87

-9.19%

 

 

GC Gasoline

Jan-26

$1.56

$1.59

-1.89%

-$0.03

$1.69

-7.69%

$1.77

-11.96%

 

 

GC Jet

Jan-26

$1.95

$1.97

-1.17%

-$0.02

$2.05

-5.02%

$2.09

-6.84%

 

 

Chicago Ethanol

Jan-26

$1.59

$1.59

-0.31%

$0.00

$1.60

-0.63%

$1.64

-3.47%

 

 

Rotterdam Gasoil

Jan-26

$560.16

$559.53

0.11%

$0.63

$592.28

-5.42%

$626.02

-10.52%

 

 

Singapore Jet Kero

Jan-26

$81.81

$80.96

1.05%

$0.85

$85.27

-4.06%

$86.90

-5.86%

 

 

 

 

Implied Volatilities

 

 

 

OTCGH/EOXLive Market Data

 

 

 

Contract

12/31/25

12/30/25

% Change

Change

12/2/25

% Change

12/31/24

% Change

 

 

Henry Hub Straddle

Feb-26

85.24%

79.01%

7.89%

6.23%

70.86%

20.29%

49.32%

72.83%

 

 

Algonquin Straddle

Feb-26

91.85%

85.96%

6.85%

5.89%

79.30%

15.83%

54.95%

67.15%

 

 

Waha Straddle

Feb-26

400.10%

388.08%

3.10%

12.02%

112.75%

254.86%

57.31%

598.13%

 

 

Chicago Straddle

Feb-26

83.57%

73.76%

13.30%

9.81%

68.42%

22.14%

47.06%

77.58%

 

 

PJM West Straddle

Feb-26

86.73%

88.98%

-2.53%

-2.25%

84.02%

3.23%

73.03%

18.76%

 

 

SP – 15 Straddle

Feb-26

249.28%

221.17%

12.71%

28.11%

157.96%

57.81%

61.53%

305.14%

 

 

Mid. C Straddle

Feb-26

10.42%

25.12%

-58.52%

-14.70%

71.45%

-85.42%

60.03%

-82.64%

 

 

 

 

Euro Gas and Power/LNG

 

 

OTCGH/EOXLive Market Data

 

 

 

Contract

12/31/25

12/30/25

% Change

Change

12/2/25

% Change

12/31/24

% Change

 

 

Dutch TTF

Feb-26

EUR 28.42

EUR 27.40

3.72%

EUR 1.02

EUR 28.06

1.28%

EUR 44.97

-36.81%

 

 

NBP

Feb-26

GBP 74.58

GBP 71.73

3.98%

GBP 2.85

GBP 73.02

2.13%

GBP 117.11

-36.31%

 

 

German Base

Feb-26

EUR 98.27

EUR 96.87

1.45%

EUR 1.41

EUR 97.90

0.38%

EUR 109.89

-10.57%

 

 

UK Base

Feb-26

GBP 81.33

GBP 79.91

1.78%

GBP 1.42

GBP 79.65

2.11%

GBP 94.08

-13.56%

 

 

French Base

Feb-26

EUR 73.81

EUR 70.57

4.59%

EUR 3.24

EUR 72.20

2.23%

EUR 96.69

-23.66%

 

 

Italian Base

Feb-26

EUR 117.09

EUR 111.83

4.70%

EUR 5.26

EUR 109.00

7.43%

EUR 128.90

-9.16%

 

 

JKM LNG

Feb-26

$9.76

$9.54

2.35%

$0.22

$10.82

-9.81%

$14.53

-32.84%

 

 

 

 

Freight Forwards (WET & DRY)

 

OTCGH/EOXLive Market Data

 

 

 

Contract

12/31/25

12/30/25

% Change

Change

12/2/25

% Change

12/31/24

% Change

 

 

TD3C FFA Middle East to China (WET)

Feb-26

$28.42

$27.40

3.72%

$1.02

$28.06

1.28%

$44.97

-36.81%

 

 

USGC-UK Continent Dirty (WET)

Feb-26

$74.58

$71.73

3.98%

$2.85

$73.02

2.13%

$117.11

-36.31%

 

 

TD20 West Africa to UK Continent (WET)

Feb-26

$98.27

$96.87

1.45%

$1.41

$97.90

0.38%

$109.89

-10.57%

 

 

LPG FFA Middle East Gulf to East (WET)

Feb-26

$81.33

$79.91

1.78%

$1.42

$79.65

2.11%

$94.08

-13.56%

 

 

TC5 FFA Arabian Gulf to Japan (WET)

Feb-26

$73.81

$70.57

4.59%

$3.24

$72.20

2.23%

$96.69

-23.66%

 

 

Supramax Timecharter (DRY)

Feb-26

$117.09

$111.83

4.70%

$5.26

$109.00

7.43%

$128.90

-9.16%

 

 

Capesize Timecharter (DRY)

Feb-26

$9.76

$9.54

2.35%

$0.22

$10.82

-9.81%

$14.53

-32.84%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

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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