Morning Report: Gas * Power * NGL * Crude * Products * Vols — Jan-04-2023

Jan 4, 2023

  

 

 

 

 

 

 

 

 

 

Prices as of 8:48 AM CST

 

 

 

 

 

 

 

Current Price

Previous Settle

% Change

Change

Volume

 

 

Natural Gas

$4.101

$3.988

2.83%

$0.113

33,598

 

 

WTI

$74.53

$76.93

-3.12%

-$2.40

149,644

 

 

Brent

$79.55

$82.10

-3.11%

-$2.55

9,886

 

 

ULSD

$2.977

$3.087

-3.54%

-$0.109

12,066

 

 

RBOB

$2.282

$2.361

-3.35%

-$0.079

10,309

 

 

 

 

Spreads

 

 

 

 

 

 

 

Current

Previous

% Change

Change

Contract

 

 

WTI-Brent

$4.75

$4.98

-4.62%

-$0.23

Mar-23

 

 

3:2:1 Crack

$29.96

$31.10

-3.66%

-$1.14

Feb-23

 

 

PJM West Spark

$70.25

$87.59

-19.79%

-$17.34

Feb-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

1/3/23

12/30/22

% Change

Change

12/2/22

% Change

1/3/22

% Change

 

 

PJM West On Peak

Feb-23

$79.03

$96.12

-17.78%

-$17.09

$128.91

-38.70%

$61.58

28.33%

 

 

ERCOT North On Peak

Feb-23

$57.91

$68.87

-15.91%

-$10.96

$86.86

-33.33%

$55.79

3.79%

 

 

CAISO SP 15 On Peak

Feb-23

$155.18

$150.54

3.08%

$4.64

$99.55

55.87%

$59.45

161.03%

 

 

MISO Indiana On Peak

Feb-23

$68.53

$83.47

-17.90%

-$14.94

$114.80

-40.31%

$59.16

15.84%

 

 

NEISO Mass On Peak

Feb-23

$160.02

$201.00

-20.39%

-$40.98

$290.70

-44.96%

$152.76

4.75%

 

 

WECC Mid C On Peak

Feb-23

$153.81

$149.40

2.95%

$4.40

$133.27

15.41%

$60.15

155.72%

 

 

NYISO Zone G On Peak

Feb-23

$133.43

$168.69

-20.90%

-$35.26

$232.87

-42.70%

$89.31

49.40%

 

 

 

 

 

Natural Gas & Basis

 

 

 

EOXLive Market Data

 

 

 

Contract

1/3/23

12/30/22

% Change

Change

12/2/22

% Change

1/3/22

% Change

 

 

NYMEX Henry Hub

Feb-23

$3.988

$4.475

-10.88%

-$0.49

$6.17

-35.35%

$4.06

-1.70%

 

 

Houston Ship Channel

Feb-23

-$0.226

-$0.238

-5.41%

$0.01

$0.15

-251.34%

$0.23

-196.62%

 

 

Chicago

Feb-23

$0.812

$0.841

3.55%

-$0.03

$0.85

-4.72%

$0.41

100.32%

 

 

Waha

Feb-23

-$0.496

-$0.477

-4.00%

-$0.02

-$0.75

-33.52%

-$0.11

347.74%

 

 

Algonquin

Feb-23

$16.009

$17.813

-10.12%

-$1.80

$28.67

-44.16%

$13.45

19.00%

 

 

Aeco

Feb-23

-$0.756

-$0.800

-5.46%

$0.04

-$2.14

-64.60%

-$1.02

-25.76%

 

 

Socal

Feb-23

$13.299

$13.589

-2.14%

-$0.29

$4.39

203.13%

$0.86

1453.20%

 

 

 

 

 

Natural Gas Liquids

 

 

 

EOXLive Market Data

 

 

 

Contract

1/3/23

12/30/22

% Change

Change

12/2/22

% Change

1/3/22

% Change

 

 

Mt. Belvieu Propane LST

Feb-23

$0.800

$0.787

1.59%

$0.01

$0.78

2.87%

$0.94

-14.54%

 

 

Mt. Belvieu Propane non LST

Feb-23

$0.805

$0.789

1.96%

$0.02

$0.78

3.18%

$0.94

-14.56%

 

 

Mt. Belview Ethane

Feb-23

$0.307

$0.304

1.00%

$0.00

$0.38

-18.16%

$0.29

7.14%

 

 

Mt. Belview Nat. Gasoline

Feb-23

$1.619

$1.611

0.52%

$0.01

$1.56

4.13%

$1.52

6.33%

 

 

Mt. Belvieu Butane LST

Feb-23

$1.040

$1.034

0.54%

$0.01

$0.94

10.81%

$1.05

-0.65%

 

 

Conway Propane

Feb-23

$0.817

$0.795

2.77%

$0.02

$0.82

0.21%

$0.99

-17.45%

 

 

Conway Nat. Gasoline

Feb-23

$1.640

$1.631

0.53%

$0.01

$1.60

2.45%

$1.61

1.75%

 

 

 

 

Crude Oil

 

 

 

EOXLive Market Data

 

 

 

Contract

1/3/23

12/30/22

% Change

Change

12/2/22

% Change

1/3/22

% Change

 

 

WTI

Feb-23

$76.93

$80.26

-4.33%

-$3.33

$80.05

-3.90%

$70.03

9.85%

 

 

Brent

Feb-23

$82.13

$86.07

-4.79%

-$3.93

$85.57

-4.02%

$73.68

11.47%

 

 

WCS

Feb-23

-$29.84

-$25.58

14.25%

-$4.25

-$28.28

5.49%

-$14.60

104.36%

 

 

LLS

Feb-23

$78.43

$81.64

-4.09%

-$3.21

$82.31

-4.71%

$69.58

12.73%

 

 

Mars

Feb-23

$72.71

$75.40

-3.70%

-$2.69

$75.97

-4.28%

$66.24

9.77%

 

 

Sour

Feb-23

$72.67

$73.92

-1.72%

-$1.25

$75.48

-3.72%

$67.11

8.28%

 

 

ESPO

Feb-23

$82.48

$80.86

1.97%

$1.62

$82.36

0.16%

$70.48

17.03%

 

 

 

 

Refined Products

 

 

 

EOXLive Market Data

 

 

 

Contract

1/3/23

12/30/22

% Change

Change

12/2/22

% Change

1/3/22

% Change

 

 

NY Heating Oil

Feb-23

$3.09

$3.29

-6.14%

-$0.20

$3.14

-1.66%

$2.26

36.71%

 

 

NY Gasoline

Feb-23

$2.42

$2.47

-2.14%

-$0.05

$2.30

5.31%

$2.03

19.56%

 

 

GC Gasoline

Feb-23

$2.32

$2.37

-2.23%

-$0.05

$2.20

5.55%

$1.92

20.57%

 

 

GC Jet

Feb-23

$3.07

$2.92

5.14%

$0.15

$2.76

11.17%

$2.11

45.17%

 

 

Chicago Ethanol

Feb-23

$2.28

$2.30

-0.87%

-$0.02

$2.16

5.56%

$2.06

10.89%

 

 

Rotterdam Gasoil

Feb-23

$852.99

$848.00

0.59%

$4.99

$865.99

-1.50%

$601.91

41.71%

 

 

Singapore Jet Kero

Feb-23

$113.63

$113.60

0.03%

$0.03

$112.09

1.37%

$83.58

35.95%

 

 

 

 

Implied Volatilities

 

 

 

EOXLive Market Data

 

 

 

Contract

1/3/23

12/30/22

% Change

Change

12/2/22

% Change

1/3/22

% Change

 

 

Henry Hub Straddle

Feb-23

101.03%

103.64%

-2.52%

-2.61%

123.25%

-18.03%

47.24%

113.87%

 

 

Algonquin Straddle

Feb-23

131.70%

154.02%

-14.49%

-22.32%

159.23%

-17.29%

96.04%

37.13%

 

 

Waha Straddle

Feb-23

135.67%

139.91%

-3.03%

-4.24%

137.99%

-1.68%

46.82%

189.77%

 

 

Chicago Straddle

Feb-23

93.08%

96.67%

-3.71%

-3.59%

113.55%

-18.03%

44.86%

107.49%

 

 

PJM West Straddle

Feb-23

151.57%

159.50%

-4.97%

-7.93%

157.66%

-3.86%

54.08%

180.27%

 

 

SP – 15 Straddle

Feb-23

316.50%

661.11%

-52.13%

-344.61%

199.71%

58.48%

28.63%

1005.48%

 

 

Mid. C Straddle

Feb-23

228.55%

212.17%

7.72%

16.38%

573.44%

-60.14%

38.96%

486.63%

 

 

 

 

Euro Gas and Power/LNG

 

 

EOXLive Market Data

 

 

 

Contract

1/3/23

12/30/22

% Change

Change

12/2/22

% Change

1/3/22

% Change

 

 

Dutch TTF

Feb-23

EUR 70.80

EUR 72.75

-2.68%

-EUR 1.95

EUR 141.64

-50.01%

EUR 67.73

4.53%

 

 

NBP

Feb-23

GBP 170.00

GBP 179.24

-5.16%

-GBP 9.24

GBP 347.00

-51.01%

GBP 171.41

-0.82%

 

 

German Base

Feb-23

EUR 193.00

EUR 202.20

-4.55%

-EUR 9.20

EUR 397.54

-51.45%

EUR 219.66

-12.14%

 

 

UK Base

Feb-23

GBP 198.84

GBP 207.23

-4.05%

-GBP 8.39

GBP 521.26

-61.85%

GBP 164.10

21.17%

 

 

French Base

Feb-23

EUR 242.35

EUR 255.64

-5.20%

-EUR 13.30

EUR 719.56

-66.32%

EUR 213.90

13.30%

 

 

Italian Base

Feb-23

EUR 207.62

EUR 210.34

-1.29%

-EUR 2.72

EUR 355.05

-41.52%

EUR 194.43

6.79%

 

 

JKM LNG

Feb-23

$28.80

$30.23

-4.73%

-$1.43

$32.70

-11.95%

$23.60

22.00%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

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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