Morning Report: Gas * Power * NGL * Crude * Products * Vols — Jan-06-2023

Jan 6, 2023

  

 

 

 

 

 

 

 

 

 

Prices as of 8:56 AM CST

 

 

 

 

 

 

 

Current Price

Previous Settle

% Change

Change

Volume

 

 

Natural Gas

$3.679

$3.720

-1.10%

-$0.041

37,346

 

 

WTI

$74.25

$73.67

0.79%

$0.58

106,398

 

 

Brent

$79.34

$78.69

0.83%

$0.65

11,241

 

 

ULSD

$2.979

$2.972

0.24%

$0.007

7,750

 

 

RBOB

$2.285

$2.267

0.77%

$0.018

7,148

 

 

 

 

Spreads

 

 

 

 

 

 

 

Current

Previous

% Change

Change

Contract

 

 

WTI-Brent

$4.82

$4.77

1.05%

$0.05

Mar-23

 

 

3:2:1 Crack

$30.23

$30.22

0.01%

$0.00

Feb-23

 

 

PJM West Spark

$68.08

$73.77

-7.72%

-$5.69

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

199

-12

-6

12/31/22

 

 

International

Dec

900

-10

66

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

 

 

 

 

01/05/18

 

 

 

12/30/22

12/23/22

Net Change

% Change

12/31/21

% Change

5 Year Avg.

% Change

 

 

East

691

747

-56

-7.50%

767

-9.91%

721

-4.11%

 

 

Midwest

839

899

-60

-6.67%

893

-6.05%

848

-1.11%

 

 

Mountain

157

166

-9

-5.42%

172

-8.72%

167

-5.76%

 

 

Pacific

165

165

0

0.00%

219

-24.66%

240

-31.25%

 

 

South

1,040

1,136

-96

-8.45%

1,143

-9.01%

1,035

0.48%

 

 

    Salt

270

323

-53

-16.41%

347

-22.19%

306

-11.71%

 

 

    Non_Salt

770

813

-43

-5.29%

796

-3.27%

729

5.60%

 

 

Total

2,891

3,112

-221

-7.10%

3,195

-9.51%

3,011

-3.98%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Power Generation Additions/Retirements

 

 

  

 

Front Month Prices

 

 

 

 

 

 

 

 

 

 

 

 

 

Electricity

 

 

 

EOXLive Market Data

 

 

 

Contract

1/5/23

1/4/23

% Change

Change

12/6/22

% Change

1/5/22

% Change

 

 

PJM West On Peak

Feb-23

$75.96

$81.73

-7.06%

-$5.77

$98.55

-22.93%

$65.65

15.70%

 

 

ERCOT North On Peak

Feb-23

$55.69

$66.57

-16.35%

-$10.88

$73.74

-24.48%

$55.47

0.40%

 

 

CAISO SP 15 On Peak

Feb-23

$132.14

$161.63

-18.25%

-$29.49

$97.23

35.91%

$56.77

132.78%

 

 

MISO Indiana On Peak

Feb-23

$64.29

$68.70

-6.43%

-$4.42

$89.41

-28.10%

$63.19

1.73%

 

 

NEISO Mass On Peak

Feb-23

$140.53

$159.50

-11.89%

-$18.97

$247.05

-43.12%

$157.93

-11.02%

 

 

WECC Mid C On Peak

Feb-23

$146.29

$177.81

-17.73%

-$31.53

$133.31

9.74%

$61.89

136.38%

 

 

NYISO Zone G On Peak

Feb-23

$115.61

$131.84

-12.31%

-$16.22

$191.52

-39.63%

$95.57

20.98%

 

 

 

 

 

Natural Gas & Basis

 

 

 

EOXLive Market Data

 

 

 

Contract

1/5/23

1/4/23

% Change

Change

12/6/22

% Change

1/5/22

% Change

 

 

NYMEX Henry Hub

Feb-23

$3.720

$4.172

-10.83%

-$0.45

$5.38

-30.83%

$4.09

-8.96%

 

 

Houston Ship Channel

Feb-23

-$0.203

-$0.345

-41.29%

$0.14

$0.22

-190.60%

$0.22

-192.93%

 

 

Chicago

Feb-23

$0.826

$0.855

3.49%

-$0.03

$0.87

-5.06%

$0.41

103.70%

 

 

Waha

Feb-23

-$0.403

-$0.770

-47.58%

$0.37

-$0.82

-50.55%

-$0.12

230.74%

 

 

Algonquin

Feb-23

$13.215

$15.350

-13.91%

-$2.14

$25.19

-47.54%

$13.63

-3.06%

 

 

Aeco

Feb-23

-$0.731

-$0.804

-9.16%

$0.07

-$1.72

-57.50%

-$1.06

-30.96%

 

 

Socal

Feb-23

$12.406

$15.284

-18.83%

-$2.88

$4.57

171.77%

$0.88

1304.22%

 

 

 

 

 

Natural Gas Liquids

 

 

 

EOXLive Market Data

 

 

 

Contract

1/5/23

1/4/23

% Change

Change

12/6/22

% Change

1/5/22

% Change

 

 

Mt. Belvieu Propane LST

Feb-23

$0.753

$0.750

0.29%

$0.00

$0.74

2.37%

$0.98

-23.29%

 

 

Mt. Belvieu Propane non LST

Feb-23

$0.780

$0.795

-1.91%

-$0.02

$0.73

7.19%

$0.97

-19.57%

 

 

Mt. Belview Ethane

Feb-23

$0.287

$0.283

1.38%

$0.00

$0.36

-20.00%

$0.30

-4.72%

 

 

Mt. Belview Nat. Gasoline

Feb-23

$1.497

$1.508

-0.71%

-$0.01

$1.45

3.17%

$1.56

-4.32%

 

 

Mt. Belvieu Butane LST

Feb-23

$1.005

$1.019

-1.35%

-$0.01

$0.88

14.26%

$1.07

-6.49%

 

 

Conway Propane

Feb-23

$0.753

$0.775

-2.94%

-$0.02

$0.76

-1.00%

$1.03

-26.66%

 

 

Conway Nat. Gasoline

Feb-23

$1.521

$1.543

-1.43%

-$0.02

$1.47

3.56%

$1.63

-6.48%

 

 

 

 

Crude Oil

 

 

 

EOXLive Market Data

 

 

 

Contract

1/5/23

1/4/23

% Change

Change

12/6/22

% Change

1/5/22

% Change

 

 

WTI

Feb-23

$73.67

$72.84

1.13%

$0.83

$74.46

-1.06%

$71.08

3.64%

 

 

Brent

Feb-23

$78.66

$77.79

1.10%

$0.86

$79.35

-0.87%

$74.77

5.20%

 

 

WCS

Feb-23

-$26.44

-$27.81

-5.14%

$1.36

-$31.03

-14.77%

-$14.64

80.61%

 

 

LLS

Feb-23

$75.49

$74.11

1.84%

$1.39

$76.26

-1.00%

$72.04

4.79%

 

 

Mars

Feb-23

$69.17

$68.43

1.07%

$0.74

$70.11

-1.35%

$68.93

0.34%

 

 

Sour

Feb-23

$73.38

$68.00

7.33%

$5.38

$69.62

5.39%

$72.46

1.26%

 

 

ESPO

Feb-23

$77.30

$76.76

0.70%

$0.54

$77.12

0.23%

$72.96

5.95%

 

 

 

 

Refined Products

 

 

 

EOXLive Market Data

 

 

 

Contract

1/5/23

1/4/23

% Change

Change

12/6/22

% Change

1/5/22

% Change

 

 

NY Heating Oil

Feb-23

$2.97

$2.98

-0.37%

-$0.01

$2.89

2.94%

$2.32

28.13%

 

 

NY Gasoline

Feb-23

$2.28

$2.28

0.13%

$0.00

$2.17

5.17%

$2.07

10.21%

 

 

GC Gasoline

Feb-23

$2.18

$2.17

0.14%

$0.00

$2.07

5.42%

$1.97

10.73%

 

 

GC Jet

Feb-23

$2.71

$2.64

2.84%

$0.08

$2.58

5.15%

$2.15

26.23%

 

 

Chicago Ethanol

Feb-23

$2.21

$2.24

-0.98%

-$0.02

$2.11

4.83%

$1.98

11.70%

 

 

Rotterdam Gasoil

Feb-23

$776.00

$776.40

-0.05%

-$0.40

$771.20

0.62%

$638.46

21.54%

 

 

Singapore Jet Kero

Feb-23

$104.41

$105.40

-0.94%

-$0.99

$103.83

0.55%

$85.53

22.07%

 

 

 

 

Implied Volatilities

 

 

 

EOXLive Market Data

 

 

 

Contract

1/5/23

1/4/23

% Change

Change

12/6/22

% Change

1/5/22

% Change

 

 

Henry Hub Straddle

Feb-23

104.83%

87.82%

19.37%

17.01%

111.75%

-6.19%

45.14%

132.23%

 

 

Algonquin Straddle

Feb-23

135.67%

126.83%

6.97%

8.84%

122.81%

10.47%

95.41%

42.20%

 

 

Waha Straddle

Feb-23

131.75%

119.84%

9.94%

11.91%

122.46%

7.59%

44.23%

197.87%

 

 

Chicago Straddle

Feb-23

95.22%

81.14%

17.35%

14.08%

92.86%

2.54%

43.66%

118.09%

 

 

PJM West Straddle

Feb-23

150.85%

150.59%

0.17%

0.26%

138.87%

8.63%

54.04%

179.15%

 

 

SP – 15 Straddle

Feb-23

416.35%

320.87%

29.76%

95.48%

198.27%

109.99%

31.20%

1234.46%

 

 

Mid. C Straddle

Feb-23

205.70%

233.45%

-11.89%

-27.75%

254.43%

-19.15%

42.13%

388.25%

 

 

 

 

Euro Gas and Power/LNG

 

 

EOXLive Market Data

 

 

 

Contract

1/5/23

1/4/23

% Change

Change

12/6/22

% Change

1/5/22

% Change

 

 

Dutch TTF

Feb-23

EUR 69.40

EUR 64.00

8.44%

EUR 5.40

EUR 142.50

-51.30%

EUR 83.52

-16.91%

 

 

NBP

Feb-23

GBP 171.00

GBP 153.00

11.76%

GBP 18.00

GBP 351.99

-51.42%

GBP 216.99

-21.20%

 

 

German Base

Feb-23

EUR 166.70

EUR 165.00

1.03%

EUR 1.70

EUR 395.96

-57.90%

EUR 223.16

-25.30%

 

 

UK Base

Feb-23

GBP 176.98

GBP 167.22

5.83%

GBP 9.75

GBP 520.37

-65.99%

GBP 198.14

-10.68%

 

 

French Base

Feb-23

EUR 213.95

EUR 203.80

4.98%

EUR 10.15

EUR 733.16

-70.82%

EUR 259.39

-17.52%

 

 

Italian Base

Feb-23

EUR 215.57

EUR 201.83

6.81%

EUR 13.75

EUR 359.45

-40.03%

EUR 225.08

-4.22%

 

 

JKM LNG

Feb-23

$29.17

$26.46

10.21%

$2.70

$35.02

-16.72%

$29.44

-0.93%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

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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