Morning Report: Gas * Power * NGL * Crude * Products * Vols — Jan-23-2023

Jan 23, 2023

  

 

 

 

 

 

 

 

 

 

Prices as of 8:06 AM CST

 

 

 

 

 

 

 

Current Price

Previous Settle

% Change

Change

Volume

 

 

Natural Gas

$3.521

$3.174

10.93%

$0.347

30,453

 

 

WTI

$82.30

$81.31

1.22%

$0.99

65,855

 

 

Brent

$88.49

$87.63

0.98%

$0.86

4,835

 

 

ULSD

$3.496

$3.467

0.84%

$0.029

1,858

 

 

RBOB

$2.671

$2.645

0.97%

$0.026

1,197

 

 

 

 

Spreads

 

 

 

 

 

 

 

Current

Previous

% Change

Change

Contract

 

 

WTI-Brent

$6.19

$5.99

3.34%

$0.20

Mar-23

 

 

3:2:1 Crack

$39.96

$39.58

0.98%

$0.39

Mar-23

 

 

PJM West Spark

$56.42

$63.62

-11.32%

-$7.20

Feb-23

 

 

 

 

Baker Hughes Rig Count

 

 

 

 

 

 

 

Date

Count

Change

1 Year Chg.

1 Year Date

 

 

U.S.

01/20/23

771

-4

167

01/14/22

 

 

Canada

01/20/23

241

14

29

01/14/22

 

 

International

Dec

900

-10

66

Nov

 

 

 

 

CFTC Net Positions

 

 

 

 

 

 

As of 1/17/2023

Open Interest

Total Net Long

Total Net Short

Diff

 

 

PJM West On Peak

95,947

95,578

95,783

-205

 

 

PJM West Off Peak

89,360

88,962

89,062

-100

 

 

Natural Gas Henry Hub

449,741

429,805

439,061

-9,256

 

 

WTI – Light Sweet Crude Futures

277,823

211,262

214,265

-3,003

 

 

Brent Crude Last Day

154,386

146,120

148,804

-2,684

 

 

NYM Ethanol

22,780

22,120

22,402

-282

 

 

Mt Belvieu LDH Propane Swap

136,125

135,059

135,834

-775

 

 

RBOB

290,453

268,150

275,695

-7,545

 

 

HSC Basis

522,312

517,709

514,030

3,679

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

EIA Lower 48 Natural Gas Storage

 

 

 

 

01/19/18

 

 

 

1/13/23

1/6/23

Net Change

% Change

1/14/22

% Change

5 Year Avg.

% Change

 

 

East

662

700

-38

-5.43%

669

-1.05%

633

4.58%

 

 

Midwest

785

823

-38

-4.62%

770

1.95%

744

5.51%

 

 

Mountain

147

153

-6

-3.92%

151

-2.65%

149

-1.21%

 

 

Pacific

157

160

-3

-1.88%

201

-21.89%

223

-29.53%

 

 

South

1,069

1,067

2

0.19%

1,019

4.91%

937

14.04%

 

 

    Salt

307

295

12

4.07%

308

-0.32%

276

11.39%

 

 

    Non_Salt

762

772

-10

-1.30%

711

7.17%

662

15.14%

 

 

Total

2,820

2,902

-82

-2.83%

2,810

0.36%

2,686

4.97%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Power Generation Additions/Retirements

 

 

  

 

Front Month Prices

 

 

 

 

 

 

 

 

 

 

 

 

 

Electricity

 

 

 

EOXLive Market Data

 

 

 

Contract

1/20/23

1/19/23

% Change

Change

12/20/22

% Change

1/20/22

% Change

 

 

PJM West On Peak

Feb-23

$63.95

$70.41

-9.17%

-$6.46

$92.69

-31.00%

$67.90

-5.81%

 

 

ERCOT North On Peak

Feb-23

$50.22

$48.75

3.00%

$1.46

$85.29

-41.12%

$57.68

-12.94%

 

 

CAISO SP 15 On Peak

Feb-23

$131.24

$154.38

-14.99%

-$23.14

$96.81

35.57%

$59.32

121.24%

 

 

MISO Indiana On Peak

Feb-23

$58.48

$61.77

-5.33%

-$3.29

$76.16

-23.22%

$63.36

-7.70%

 

 

NEISO Mass On Peak

Feb-23

$116.12

$113.89

1.96%

$2.23

$196.71

-40.97%

$141.30

-17.82%

 

 

WECC Mid C On Peak

Feb-23

$138.13

$153.97

-10.28%

-$15.83

$147.23

-6.18%

$60.27

129.19%

 

 

NYISO Zone G On Peak

Feb-23

$100.85

$100.71

0.14%

$0.14

$156.95

-35.75%

$96.72

4.26%

 

 

 

 

 

Natural Gas & Basis

 

 

 

EOXLive Market Data

 

 

 

Contract

1/20/23

1/19/23

% Change

Change

12/20/22

% Change

1/20/22

% Change

 

 

NYMEX Henry Hub

Feb-23

$3.174

$3.275

-3.08%

-$0.10

$5.22

-39.15%

$4.08

-22.24%

 

 

Houston Ship Channel

Feb-23

-$0.305

-$0.348

-12.41%

$0.04

-$0.06

396.74%

$0.23

-229.84%

 

 

Chicago

Feb-23

$1.204

$1.402

16.45%

-$0.20

$0.76

58.10%

$0.55

120.01%

 

 

Waha

Feb-23

-$0.659

-$0.570

-15.70%

-$0.09

$0.01

-5288.19%

-$0.05

1199.61%

 

 

Algonquin

Feb-23

$9.024

$10.448

-13.63%

-$1.42

$19.93

-54.73%

$14.04

-35.74%

 

 

Aeco

Feb-23

-$0.167

-$0.219

-23.83%

$0.05

-$1.46

-88.63%

-$1.00

-83.38%

 

 

Socal

Feb-23

$12.421

$14.653

-15.23%

-$2.23

$5.91

110.19%

$0.97

1180.67%

 

 

 

 

 

Natural Gas Liquids

 

 

 

EOXLive Market Data

 

 

 

Contract

1/20/23

1/19/23

% Change

Change

12/20/22

% Change

1/20/22

% Change

 

 

Mt. Belvieu Propane LST

Feb-23

$0.909

$0.914

-0.62%

-$0.01

$0.70

30.29%

$1.00

-9.19%

 

 

Mt. Belvieu Propane non LST

Feb-23

$0.904

$0.915

-1.15%

-$0.01

$0.71

26.60%

$1.02

-11.24%

 

 

Mt. Belview Ethane

Feb-23

$0.251

$0.251

-0.04%

$0.00

$0.36

-30.10%

$0.33

-24.17%

 

 

Mt. Belview Nat. Gasoline

Feb-23

$1.750

$1.750

-0.03%

$0.00

$1.41

24.27%

$1.72

1.97%

 

 

Mt. Belvieu Butane LST

Feb-23

$1.161

$1.178

-1.43%

-$0.02

$0.89

30.43%

$1.15

0.88%

 

 

Conway Propane

Feb-23

$0.885

$0.892

-0.82%

-$0.01

$0.72

22.71%

$1.04

-15.26%

 

 

Conway Nat. Gasoline

Feb-23

$1.756

$1.783

-1.53%

-$0.03

$1.42

23.99%

$1.78

-1.29%

 

 

 

 

Crude Oil

 

 

 

EOXLive Market Data

 

 

 

Contract

1/20/23

1/19/23

% Change

Change

12/20/22

% Change

1/20/22

% Change

 

 

WTI

Mar-23

$81.64

$80.61

1.26%

$1.03

$76.23

7.10%

$75.95

7.49%

 

 

Brent

Mar-23

$87.63

$86.16

1.68%

$1.47

$80.53

8.82%

$79.73

9.91%

 

 

WCS

Mar-23

-$24.50

-$23.55

3.88%

-$0.95

-$28.49

-14.00%

-$14.73

66.35%

 

 

LLS

Mar-23

$82.69

$83.00

-0.38%

-$0.32

$78.36

5.52%

$76.73

7.76%

 

 

Mars

Mar-23

$77.06

$77.15

-0.11%

-$0.09

$70.35

9.53%

$73.67

4.60%

 

 

Sour

Mar-23

$78.08

$76.98

1.42%

$1.11

$72.03

8.41%

$74.03

5.47%

 

 

ESPO

Mar-23

$86.08

$84.49

1.85%

$1.59

$76.66

12.29%

$77.72

10.76%

 

 

 

 

Refined Products

 

 

 

EOXLive Market Data

 

 

 

Contract

1/20/23

1/19/23

% Change

Change

12/20/22

% Change

1/20/22

% Change

 

 

NY Heating Oil

Feb-23

$3.46

$3.37

2.70%

$0.09

$3.03

14.32%

$2.41

43.73%

 

 

NY Gasoline

Feb-23

$2.64

$2.60

1.89%

$0.05

$2.23

18.78%

$2.17

21.68%

 

 

GC Gasoline

Feb-23

$2.54

$2.49

1.96%

$0.05

$2.13

19.66%

$2.07

22.72%

 

 

GC Jet

Feb-23

$3.21

$3.33

-3.43%

-$0.11

$2.64

21.85%

$2.20

45.74%

 

 

Chicago Ethanol

Feb-23

$2.19

$2.16

1.39%

$0.03

$2.17

0.97%

$1.92

13.94%

 

 

Rotterdam Gasoil

Feb-23

$922.80

$885.46

4.22%

$37.34

$803.75

14.81%

$648.33

42.33%

 

 

Singapore Jet Kero

Feb-23

$118.48

$120.42

-1.61%

-$1.94

$104.24

13.66%

$90.21

31.34%

 

 

 

 

Implied Volatilities

 

 

 

EOXLive Market Data

 

 

 

Contract

1/20/23

1/19/23

% Change

Change

12/20/22

% Change

1/20/22

% Change

 

 

Henry Hub Straddle

Mar-23

105.87%

102.24%

3.55%

3.63%

111.98%

-5.46%

59.32%

78.47%

 

 

Algonquin Straddle

Mar-23

141.10%

144.21%

-2.16%

-3.11%

146.36%

-3.59%

93.47%

50.96%

 

 

Waha Straddle

Mar-23

319.26%

300.77%

6.15%

18.49%

260.93%

22.35%

72.46%

340.60%

 

 

Chicago Straddle

Mar-23

110.04%

110.76%

-0.65%

-0.72%

117.32%

-6.21%

60.81%

80.96%

 

 

PJM West Straddle

Mar-23

97.90%

93.79%

4.38%

4.11%

89.56%

9.31%

38.62%

153.50%

 

 

SP – 15 Straddle

Mar-23

216.29%

141.09%

53.30%

75.20%

112.15%

92.86%

21.16%

922.16%

 

 

Mid. C Straddle

Mar-23

127.71%

118.90%

7.41%

8.81%

327.94%

-61.06%

32.62%

291.51%

 

 

 

 

Euro Gas and Power/LNG

 

 

EOXLive Market Data

 

 

 

Contract

1/20/23

1/19/23

% Change

Change

12/20/22

% Change

1/20/22

% Change

 

 

Dutch TTF

Mar-23

EUR 68.22

EUR 62.56

9.04%

EUR 5.66

EUR 107.70

-36.66%

EUR 62.18

9.71%

 

 

NBP

Mar-23

GBP 172.12

GBP 153.45

12.17%

GBP 18.67

GBP 270.00

-36.25%

GBP 154.69

11.27%

 

 

German Base

Mar-23

EUR 146.00

EUR 147.75

-1.18%

-EUR 1.75

EUR 273.45

-46.61%

EUR 158.23

-7.73%

 

 

UK Base

Mar-23

GBP 163.76

GBP 149.79

9.33%

GBP 13.97

GBP 259.21

-36.82%

GBP 154.82

5.77%

 

 

French Base

Mar-23

EUR 157.36

EUR 163.08

-3.50%

-EUR 5.72

EUR 303.67

-48.18%

EUR 193.44

-18.65%

 

 

Italian Base

Mar-23

EUR 176.88

EUR 174.16

1.56%

EUR 2.72

EUR 275.25

-35.74%

EUR 158.96

11.28%

 

 

JKM LNG

Mar-23

$24.83

$23.76

4.48%

$1.06

$34.40

-27.82%

$22.12

12.26%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

Cooling Degree Days

 

 

 

 

 

 

01/21/2023

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

4

-4

2

18

-5

-4

NA

NA

 

 

E S Central

0

-2

0

2

-4

-2

NA

NA

 

 

W S Central

6

2

5

17

8

10

NA

NA

 

 

Mountain

0

0

0

0

0

0

NA

NA

 

 

Pacific

0

-1

0

0

-1

0

NA

NA

 

 

United States

1

-1

1

5

-1

0

NA

NA

 

 

 

 

Heating Degree Days

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

01/21/2023

Week Tot

Dev Norm

Dev L YR

Cum Tot

CumD Norm

CumD L YR

CumD Norm

CumD L YR

 

 

New England

220

-64

-92

2,790

-514

-66

NA

NA

 

 

Middle Atlantic

204

-60

-83

2,577

-396

114

NA

NA

 

 

E N Central

208

-89

-94

3,002

-353

180

NA

NA

 

 

W N Central

231

-86

-93

3,411

-232

336

NA

NA

 

 

South Atlantic

114

-33

-45

1,386

-134

164

NA

NA

 

 

E S Central

124

-63

-79

1,754

-216

167

NA

NA

 

 

W S Central

77

-58

-62

1,161

-152

276

NA

NA

 

 

Mountain

227

12

32

2,773

-28

440

NA

NA

 

 

Pacific

153

26

49

1,664

21

152

NA

NA

 

 

United States

165

-44

-48

2,155

-208

189

NA

NA

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

Weather Forecast & Seasonal Outlook

 

 

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