Morning Report: Gas * Power * NGL * Crude * Products * Vols — Jan-25-2023

Jan 25, 2023

  

 

 

 

 

 

 

 

 

 

Prices as of 8:05 AM CST

 

 

 

 

 

 

 

Current Price

Previous Settle

% Change

Change

Volume

 

 

Natural Gas

$3.095

$3.258

-5.00%

-$0.163

7,644

 

 

WTI

$80.15

$80.13

0.02%

$0.02

73,608

 

 

Brent

$86.12

$86.13

-0.01%

-$0.01

6,256

 

 

ULSD

$3.423

$3.427

-0.12%

-$0.004

3,046

 

 

RBOB

$2.640

$2.649

-0.33%

-$0.009

1,872

 

 

 

 

Spreads

 

 

 

 

 

 

 

Current

Previous

% Change

Change

Contract

 

 

WTI-Brent

$5.93

$6.00

-1.17%

-$0.07

Mar-23

 

 

3:2:1 Crack

$40.30

$40.69

-0.95%

-$0.39

Mar-23

 

 

PJM West Spark

$60.09

$65.28

-7.95%

-$5.19

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

1/24/23

1/23/23

% Change

Change

12/22/22

% Change

1/24/22

% Change

 

 

PJM West On Peak

Feb-23

$66.70

$72.25

-7.68%

-$5.55

$93.44

-28.62%

$70.13

-4.89%

 

 

ERCOT North On Peak

Feb-23

$61.03

$53.34

14.43%

$7.70

$79.61

-23.34%

$57.11

6.88%

 

 

CAISO SP 15 On Peak

Feb-23

$143.42

$134.42

6.69%

$9.00

$146.92

-2.39%

$59.65

140.44%

 

 

MISO Indiana On Peak

Feb-23

$62.23

$69.71

-10.73%

-$7.48

$78.97

-21.20%

$65.41

-4.85%

 

 

NEISO Mass On Peak

Feb-23

$124.37

$123.71

0.53%

$0.66

$200.51

-37.97%

$151.96

-18.15%

 

 

WECC Mid C On Peak

Feb-23

$159.24

$146.37

8.79%

$12.87

$161.50

-1.40%

$59.72

166.66%

 

 

NYISO Zone G On Peak

Feb-23

$103.60

$105.48

-1.78%

-$1.88

$166.12

-37.63%

$100.28

3.32%

 

 

 

 

 

Natural Gas & Basis

 

 

 

EOXLive Market Data

 

 

 

Contract

1/24/23

1/23/23

% Change

Change

12/22/22

% Change

1/24/22

% Change

 

 

NYMEX Henry Hub

Feb-23

$3.258

$3.447

-5.48%

-$0.19

$4.93

-33.89%

$4.21

-22.59%

 

 

Houston Ship Channel

Feb-23

-$0.305

-$0.240

27.35%

-$0.07

-$0.19

56.81%

$0.21

-243.13%

 

 

Chicago

Feb-23

$1.363

$1.224

-10.24%

$0.14

$0.96

42.08%

$0.52

159.96%

 

 

Waha

Feb-23

-$0.632

-$0.768

-17.69%

$0.14

$0.00

210566.67%

-$0.05

1205.79%

 

 

Algonquin

Feb-23

$9.742

$9.918

-1.78%

-$0.18

$18.75

-48.05%

$14.66

-33.57%

 

 

Aeco

Feb-23

-$0.234

-$0.175

33.56%

-$0.06

-$0.92

-74.49%

-$0.94

-75.18%

 

 

Socal

Feb-23

$11.361

$12.130

-6.34%

-$0.77

$9.56

18.82%

$0.96

1078.73%

 

 

 

 

 

Natural Gas Liquids

 

 

 

EOXLive Market Data

 

 

 

Contract

1/24/23

1/23/23

% Change

Change

12/22/22

% Change

1/24/22

% Change

 

 

Mt. Belvieu Propane LST

Feb-23

$0.921

$0.903

2.01%

$0.02

$0.74

23.60%

$0.99

-7.37%

 

 

Mt. Belvieu Propane non LST

Feb-23

$0.907

$0.903

0.52%

$0.00

$0.75

21.72%

$0.98

-7.81%

 

 

Mt. Belview Ethane

Feb-23

$0.263

$0.255

2.81%

$0.01

$0.35

-25.13%

$0.33

-19.36%

 

 

Mt. Belview Nat. Gasoline

Feb-23

$1.825

$1.771

3.04%

$0.05

$1.51

20.71%

$1.69

8.32%

 

 

Mt. Belvieu Butane LST

Feb-23

$1.146

$1.155

-0.79%

-$0.01

$0.92

24.48%

$1.13

1.15%

 

 

Conway Propane

Feb-23

$0.887

$0.878

1.11%

$0.01

$0.77

14.60%

$1.02

-13.00%

 

 

Conway Nat. Gasoline

Feb-23

$1.801

$1.750

2.92%

$0.05

$1.52

18.44%

$1.72

4.99%

 

 

 

 

Crude Oil

 

 

 

EOXLive Market Data

 

 

 

Contract

1/24/23

1/23/23

% Change

Change

12/22/22

% Change

1/24/22

% Change

 

 

WTI

Mar-23

$80.13

$81.62

-1.86%

-$1.49

$77.42

3.50%

$74.22

7.96%

 

 

Brent

Mar-23

$86.13

$88.19

-2.39%

-$2.06

$81.67

5.46%

$78.01

10.41%

 

 

WCS

Mar-23

-$22.62

-$24.04

-6.29%

$1.42

-$23.50

-3.72%

-$13.55

67.01%

 

 

LLS

Mar-23

$83.00

$84.67

-2.02%

-$1.67

$79.47

4.44%

$75.28

10.25%

 

 

Mars

Mar-23

$77.48

$78.98

-1.94%

-$1.50

$73.27

5.75%

$71.67

8.12%

 

 

Sour

Mar-23

$76.83

$77.95

-1.47%

-$1.13

$75.30

2.03%

$72.52

5.93%

 

 

ESPO

Mar-23

$83.83

$86.32

-2.97%

-$2.49

$80.68

3.91%

$75.32

11.30%

 

 

 

 

Refined Products

 

 

 

EOXLive Market Data

 

 

 

Contract

1/24/23

1/23/23

% Change

Change

12/22/22

% Change

1/24/22

% Change

 

 

NY Heating Oil

Feb-23

$3.44

$3.54

-2.60%

-$0.09

$3.12

10.49%

$2.44

41.11%

 

 

NY Gasoline

Feb-23

$2.65

$2.69

-1.34%

-$0.04

$2.28

16.42%

$2.11

25.99%

 

 

GC Gasoline

Feb-23

$2.55

$2.59

-1.39%

-$0.04

$2.18

17.17%

$2.01

27.28%

 

 

GC Jet

Feb-23

$3.20

$3.50

-8.71%

-$0.31

$2.76

15.83%

$2.24

42.60%

 

 

Chicago Ethanol

Feb-23

$2.16

$2.15

0.14%

$0.00

$2.24

-3.57%

$1.85

16.46%

 

 

Rotterdam Gasoil

Feb-23

$929.72

$948.40

-1.97%

-$18.67

$835.72

11.25%

$627.52

48.16%

 

 

Singapore Jet Kero

Feb-23

$123.56

$125.28

-1.37%

-$1.72

$109.33

13.02%

$88.60

39.45%

 

 

 

 

Implied Volatilities

 

 

 

EOXLive Market Data

 

 

 

Contract

1/24/23

1/23/23

% Change

Change

12/22/22

% Change

1/24/22

% Change

 

 

Henry Hub Straddle

Mar-23

99.04%

95.24%

3.99%

3.80%

113.58%

-12.80%

57.73%

71.56%

 

 

Algonquin Straddle

Mar-23

144.75%

133.57%

8.37%

11.18%

138.41%

4.58%

88.93%

62.77%

 

 

Waha Straddle

Mar-23

281.76%

290.35%

-2.96%

-8.59%

221.86%

27.00%

71.21%

295.67%

 

 

Chicago Straddle

Mar-23

113.63%

110.23%

3.08%

3.40%

121.34%

-6.35%

57.58%

97.34%

 

 

PJM West Straddle

Mar-23

96.89%

97.15%

-0.27%

-0.26%

90.89%

6.60%

38.30%

152.98%

 

 

SP – 15 Straddle

Mar-23

138.62%

118.34%

17.14%

20.28%

124.30%

11.52%

22.75%

509.32%

 

 

Mid. C Straddle

Mar-23

120.22%

130.78%

-8.07%

-10.56%

365.38%

-67.10%

34.06%

252.97%

 

 

 

 

Euro Gas and Power/LNG

 

 

EOXLive Market Data

 

 

 

Contract

1/24/23

1/23/23

% Change

Change

12/22/22

% Change

1/24/22

% Change

 

 

Dutch TTF

Mar-23

EUR 59.28

EUR 62.25

-4.78%

-EUR 2.97

EUR 94.89

-37.53%

EUR 73.06

-18.86%

 

 

NBP

Mar-23

GBP 149.40

GBP 160.06

-6.66%

-GBP 10.66

GBP 235.00

-36.43%

GBP 187.01

-20.11%

 

 

German Base

Mar-23

EUR 127.36

EUR 146.00

-12.77%

-EUR 18.64

EUR 246.68

-48.37%

EUR 167.89

-24.14%

 

 

UK Base

Mar-23

GBP 139.53

GBP 160.28

-12.95%

-GBP 20.75

GBP 228.39

-38.91%

GBP 174.65

-20.10%

 

 

French Base

Mar-23

EUR 140.40

EUR 159.07

-11.74%

-EUR 18.67

EUR 264.88

-46.99%

EUR 208.62

-32.70%

 

 

Italian Base

Mar-23

EUR 162.06

EUR 175.31

-7.56%

-EUR 13.25

EUR 251.99

-35.69%

EUR 172.20

-5.89%

 

 

JKM LNG

Mar-23

$21.44

$22.93

-6.51%

-$1.49

$30.92

-30.66%

$25.85

-17.07%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

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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