Morning Report: Gas * Power * NGL * Crude * Products * Vols — Jan-03-2023

Jan 3, 2023

  

 

 

 

 

 

 

 

 

 

Prices as of 8:04 AM CST

 

 

 

 

 

 

 

Current Price

Previous Settle

% Change

Change

Volume

 

 

Natural Gas

$4.046

$4.475

-9.59%

-$0.429

23,377

 

 

WTI

$79.20

$80.26

-1.32%

-$1.06

98,366

 

 

Brent

$84.87

$82.32

3.10%

$2.55

9,609

 

 

ULSD

$3.190

$3.362

-5.13%

-$0.172

6,626

 

 

RBOB

$2.419

$2.460

-1.64%

-$0.040

8,497

 

 

 

 

Spreads

 

 

 

 

 

 

 

Current

Previous

% Change

Change

Contract

 

 

WTI-Brent

$5.42

$5.46

-0.73%

-$0.04

Mar-23

 

 

3:2:1 Crack

$31.71

$33.45

-5.20%

-$1.74

Feb-23

 

 

PJM West Spark

NA

NA

NA

NA

Jan-23

 

 

 

 

Baker Hughes Rig Count

 

 

 

 

 

 

 

Date

Count

Change

1 Year Chg.

1 Year Date

 

 

U.S.

12/30/23

779

0

193

12/31/22

 

 

Canada

12/30/23

84

-12

-6

12/31/22

 

 

International

Nov

910

-1

93

Nov

 

 

 

 

CFTC Net Positions

 

 

 

 

 

 

As of 12/27/2022

Open Interest

Total Net Long

Total Net Short

Diff

 

 

PJM West On Peak

94,545

94,122

94,340

-218

 

 

PJM West Off Peak

85,875

85,489

85,537

-48

 

 

Natural Gas Henry Hub

461,684

440,992

450,482

-9,490

 

 

WTI – Light Sweet Crude Futures

147,603

116,635

116,685

-50

 

 

Brent Crude Last Day

150,564

140,965

144,568

-3,603

 

 

NYM Ethanol

22,186

21,591

21,925

-334

 

 

Mt Belvieu LDH Propane Swap

144,253

143,008

142,447

561

 

 

RBOB

248,293

228,769

232,674

-3,905

 

 

HSC Basis

541,275

536,984

532,930

4,054

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

EIA Lower 48 Natural Gas Storage

 

 

 

 

12/29/17

 

 

 

12/23/22

12/16/22

Net Change

% Change

12/24/21

% Change

5 Year Avg.

% Change

 

 

East

747

789

-42

-5.32%

777

-3.86%

752

-0.64%

 

 

Midwest

899

974

-75

-7.70%

918

-2.07%

894

0.58%

 

 

Mountain

166

178

-12

-6.74%

180

-7.78%

177

-6.43%

 

 

Pacific

165

186

-21

-11.29%

235

-29.79%

253

-34.68%

 

 

South

1,136

1,199

-63

-5.25%

1,116

1.79%

1,066

6.57%

 

 

    Salt

323

340

-17

-5.00%

326

-0.92%

314

2.80%

 

 

    Non_Salt

813

858

-45

-5.24%

790

2.91%

752

8.11%

 

 

Total

3,112

3,325

-213

-6.41%

3,226

-3.53%

3,142

-0.95%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Power Generation Additions/Retirements

 

 

  

 

Front Month Prices

 

 

 

 

 

 

 

 

 

 

 

 

 

Electricity

 

 

 

EOXLive Market Data

 

 

 

Contract

12/30/22

12/29/22

% Change

Change

12/1/22

% Change

12/31/21

% Change

 

 

PJM West On Peak

Jan-23

$88.75

$92.49

-4.04%

-$3.74

$146.23

-39.31%

$69.72

27.30%

 

 

ERCOT North On Peak

Jan-23

$54.61

$55.50

-1.61%

-$0.89

$92.69

-41.08%

$58.15

-6.09%

 

 

CAISO SP 15 On Peak

Jan-23

$245.56

$334.71

-26.64%

-$89.15

$141.63

73.38%

$64.18

282.64%

 

 

MISO Indiana On Peak

Jan-23

$73.04

$77.05

-5.20%

-$4.01

$123.65

-40.93%

$66.79

9.37%

 

 

NEISO Mass On Peak

Jan-23

$171.71

$162.74

5.51%

$8.96

$322.57

-46.77%

$139.10

23.44%

 

 

WECC Mid C On Peak

Jan-23

$251.11

$295.16

-14.93%

-$44.06

$177.32

41.61%

$71.73

250.06%

 

 

NYISO Zone G On Peak

Jan-23

$145.96

$136.94

6.58%

$9.02

$259.75

-43.81%

$93.64

55.87%

 

 

 

 

 

Natural Gas & Basis

 

 

 

EOXLive Market Data

 

 

 

Contract

12/30/22

12/29/22

% Change

Change

12/1/22

% Change

12/31/21

% Change

 

 

NYMEX Henry Hub

Feb-23

$4.475

$4.559

-1.84%

-$0.08

$6.63

-32.51%

$3.98

12.44%

 

 

Houston Ship Channel

Feb-23

-$0.238

-$0.232

2.80%

-$0.01

$0.34

-170.14%

$0.23

-203.07%

 

 

Chicago

Feb-23

$0.841

$0.835

-0.63%

$0.01

$0.84

-0.30%

$0.41

102.58%

 

 

Waha

Feb-23

-$0.477

-$0.350

-36.48%

-$0.13

-$0.62

-22.99%

-$0.12

282.52%

 

 

Algonquin

Feb-23

$17.813

$19.184

-7.15%

-$1.37

$27.47

-35.15%

$13.65

30.53%

 

 

Aeco

Feb-23

-$0.800

-$0.804

-0.55%

$0.00

-$2.12

-62.29%

-$1.07

-25.06%

 

 

Socal

Feb-23

$13.589

$15.185

-10.51%

-$1.60

$4.29

216.83%

$0.89

1427.73%

 

 

 

 

 

Natural Gas Liquids

 

 

 

EOXLive Market Data

 

 

 

Contract

12/30/22

12/29/22

% Change

Change

12/1/22

% Change

12/31/21

% Change

 

 

Mt. Belvieu Propane LST

Jan-23

$0.781

$0.773

1.13%

$0.01

$0.79

-0.77%

$0.98

-20.56%

 

 

Mt. Belvieu Propane non LST

Jan-23

$0.776

$0.766

1.31%

$0.01

$0.79

-1.72%

$0.98

-21.05%

 

 

Mt. Belview Ethane

Jan-23

$0.310

$0.309

0.45%

$0.00

$0.42

-25.50%

$0.30

4.53%

 

 

Mt. Belview Nat. Gasoline

Jan-23

$1.642

$1.554

5.71%

$0.09

$1.57

4.82%

$1.55

6.11%

 

 

Mt. Belvieu Butane LST

Jan-23

$1.042

$0.984

5.96%

$0.06

$0.93

11.63%

$1.09

-4.74%

 

 

Conway Propane

Jan-23

$0.793

$0.775

2.30%

$0.02

$0.83

-4.03%

$1.04

-23.43%

 

 

Conway Nat. Gasoline

Jan-23

$1.657

$1.647

0.64%

$0.01

$1.64

1.30%

$1.65

0.63%

 

 

 

 

Crude Oil

 

 

 

EOXLive Market Data

 

 

 

Contract

12/30/22

12/29/22

% Change

Change

12/1/22

% Change

12/31/21

% Change

 

 

WTI

Feb-23

$80.26

$78.40

2.32%

$1.86

$81.14

-1.08%

$68.76

16.72%

 

 

Brent

Feb-23

$86.07

$83.57

2.90%

$2.50

$86.88

-0.94%

$72.45

18.79%

 

 

WCS

Feb-23

-$25.58

-$28.14

-9.98%

$2.55

-$27.17

-5.83%

-$14.60

75.23%

 

 

LLS

Feb-23

$81.64

$79.65

2.44%

$1.99

$83.38

-2.09%

$70.98

15.02%

 

 

Mars

Feb-23

$75.40

$73.51

2.50%

$1.89

$76.94

-2.00%

$67.65

11.46%

 

 

Sour

Feb-23

$73.92

$74.39

-0.64%

-$0.47

$76.69

-3.61%

$68.17

8.44%

 

 

ESPO

Feb-23

$80.86

$80.06

0.99%

$0.80

$84.36

-4.14%

$71.79

12.64%

 

 

 

 

Refined Products

 

 

 

EOXLive Market Data

 

 

 

Contract

12/30/22

12/29/22

% Change

Change

12/1/22

% Change

12/31/21

% Change

 

 

NY Heating Oil

Jan-23

$3.34

$3.27

2.11%

$0.07

$3.26

2.27%

$2.28

46.10%

 

 

NY Gasoline

Jan-23

$2.47

$2.37

4.18%

$0.10

$2.41

2.62%

$2.01

22.76%

 

 

GC Gasoline

Jan-23

$2.37

$2.27

4.36%

$0.10

$2.31

2.73%

$1.91

23.95%

 

 

GC Jet

Jan-23

$3.09

$2.96

4.08%

$0.12

$2.94

4.86%

$2.07

49.01%

 

 

Chicago Ethanol

Jan-23

$2.34

$2.28

2.41%

$0.06

$2.20

6.04%

$1.98

17.69%

 

 

Rotterdam Gasoil

Jan-23

$869.00

$867.16

0.21%

$1.84

$874.68

-0.65%

$599.84

44.87%

 

 

Singapore Jet Kero

Jan-23

$116.38

$115.96

0.37%

$0.43

$115.88

0.44%

$83.22

39.85%

 

 

 

 

Implied Volatilities

 

 

 

EOXLive Market Data

 

 

 

Contract

12/30/22

12/29/22

% Change

Change

12/1/22

% Change

12/31/21

% Change

 

 

Henry Hub Straddle

Feb-23

103.64%

106.09%

-2.31%

-2.45%

122.73%

-15.55%

44.04%

135.33%

 

 

Algonquin Straddle

Feb-23

154.02%

153.00%

0.67%

1.02%

167.08%

-7.82%

96.13%

60.22%

 

 

Waha Straddle

Feb-23

139.91%

137.11%

2.04%

2.80%

156.85%

-10.80%

43.29%

223.19%

 

 

Chicago Straddle

Feb-23

96.67%

98.77%

-2.13%

-2.10%

111.74%

-13.49%

42.29%

128.59%

 

 

PJM West Straddle

Feb-23

159.50%

149.00%

7.05%

10.50%

150.72%

5.83%

69.65%

129.00%

 

 

SP – 15 Straddle

Feb-23

661.11%

605.79%

9.13%

55.32%

131.63%

402.25%

24.11%

2642.06%

 

 

Mid. C Straddle

Feb-23

212.17%

529.79%

-59.95%

-317.62%

575.68%

-63.14%

34.71%

511.26%

 

 

 

 

Euro Gas and Power/LNG

 

 

EOXLive Market Data

 

 

 

Contract

12/30/22

12/29/22

% Change

Change

12/1/22

% Change

12/31/21

% Change

 

 

Dutch TTF

Feb-23

EUR 72.75

EUR 85.60

-15.01%

-EUR 12.85

EUR 137.63

-47.14%

EUR 68.64

5.98%

 

 

NBP

Feb-23

GBP 179.24

GBP 211.20

-15.13%

-GBP 31.96

GBP 349.00

-48.64%

GBP 181.17

-1.07%

 

 

German Base

Feb-23

EUR 202.20

EUR 211.15

-4.24%

-EUR 8.95

EUR 439.67

-54.01%

EUR 225.68

-10.40%

 

 

UK Base

Feb-23

GBP 207.23

GBP 221.98

-6.64%

-GBP 14.74

GBP 571.39

-63.73%

GBP 167.42

23.78%

 

 

French Base

Feb-23

EUR 255.64

EUR 280.03

-8.71%

-EUR 24.39

EUR 778.98

-67.18%

EUR 211.33

20.97%

 

 

Italian Base

Feb-23

EUR 210.34

EUR 243.77

-13.71%

-EUR 33.43

EUR 348.59

-39.66%

EUR 221.10

-4.87%

 

 

JKM LNG

Feb-23

$29.30

$27.88

5.11%

$1.43

$34.67

-15.50%

$24.05

21.84%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

Cooling Degree Days

 

 

 

 

 

 

12/31/2022

Week Tot

Dev Norm

Dev L YR

Cum Tot

CumD Norm

CumD L YR

CumD Norm

CumD L YR

 

 

New England

0

0

0

652

235

-4

56.00%

-1.00%

 

 

Middle Atlantic

0

0

0

856

200

-57

30.00%

-6.00%

 

 

E N Central

0

0

0

826

117

-141

17.00%

-15.00%

 

 

W N Central

0

0

0

1,090

163

-28

18.00%

-3.00%

 

 

South Atlantic

3

-3

-10

2,176

212

-50

11.00%

-2.00%

 

 

E S Central

0

-1

-8

1,725

178

41

12.00%

2.00%

 

 

W S Central

1

-1

-28

2,918

469

269

19.00%

10.00%

 

 

Mountain

0

0

0

1,384

141

-17

11.00%

-1.00%

 

 

Pacific

0

0

0

975

271

69

38.00%

8.00%

 

 

United States

1

0

-5

1,439

223

0

18.00%

0.00%

 

 

 

 

Heating Degree Days

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

12/31/2022

Week Tot

Dev Norm

Dev L YR

Cum Tot

CumD Norm

CumD L YR

CumD Norm

CumD L YR

 

 

New England

244

-24

29

2,155

-307

127

NA

NA

 

 

Middle Atlantic

233

-16

63

2,018

-173

327

NA

NA

 

 

E N Central

256

-26

70

2,378

-94

425

NA

NA

 

 

W N Central

283

-23

26

2,675

-20

570

NA

NA

 

 

South Atlantic

158

18

110

1,083

0

259

NA

NA

 

 

E S Central

175

-5

139

1,408

-2

353

NA

NA

 

 

W S Central

124

-7

105

942

37

421

NA

NA

 

 

Mountain

184

-35

-38

2,150

3

427

NA

NA

 

 

Pacific

106

-27

-73

1,260

7

90

NA

NA

 

 

United States

188

-14

50

1,688

-51

319

NA

NA

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

Weather Forecast & Seasonal Outlook

 

 

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