Morning Report: Gas * Power * NGL * Crude * Products * Vols — Jan-26-2023

Jan 26, 2023

  

 

 

 

 

 

 

 

 

 

Prices as of 8:39 AM CST

 

 

 

 

 

 

 

Current Price

Previous Settle

% Change

Change

Volume

 

 

Natural Gas

$2.825

$3.067

-7.89%

-$0.242

8,197

 

 

WTI

$81.97

$80.15

2.27%

$1.82

104,289

 

 

Brent

$87.85

$86.12

2.01%

$1.73

4,349

 

 

ULSD

$3.410

$3.361

1.43%

$0.048

3,214

 

 

RBOB

$2.655

$2.593

2.39%

$0.062

2,085

 

 

 

 

Spreads

 

 

 

 

 

 

 

Current

Previous

% Change

Change

Contract

 

 

WTI-Brent

$5.88

$5.97

-1.51%

-$0.09

Mar-23

 

 

3:2:1 Crack

$38.82

$38.23

1.56%

$0.60

Mar-23

 

 

PJM West Spark

$54.64

$60.14

-9.14%

-$5.50

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

1/25/23

1/24/23

% Change

Change

12/23/22

% Change

1/25/22

% Change

 

 

PJM West On Peak

Feb-23

$60.68

$66.70

-9.02%

-$6.02

$96.09

-36.84%

$68.46

-11.35%

 

 

ERCOT North On Peak

Feb-23

$48.19

$61.03

-21.04%

-$12.84

$77.91

-38.14%

$57.94

-16.82%

 

 

CAISO SP 15 On Peak

Feb-23

$140.76

$143.42

-1.85%

-$2.66

$151.40

-7.03%

$59.70

135.79%

 

 

MISO Indiana On Peak

Feb-23

$58.71

$62.23

-5.65%

-$3.52

$80.73

-27.27%

$63.96

-8.20%

 

 

NEISO Mass On Peak

Feb-23

$110.87

$124.37

-10.86%

-$13.51

$199.97

-44.56%

$153.20

-27.63%

 

 

WECC Mid C On Peak

Feb-23

$152.98

$159.24

-3.93%

-$6.26

$163.47

-6.42%

$60.87

151.34%

 

 

NYISO Zone G On Peak

Feb-23

$88.47

$103.60

-14.60%

-$15.13

$165.08

-46.41%

$102.42

-13.62%

 

 

 

 

 

Natural Gas & Basis

 

 

 

EOXLive Market Data

 

 

 

Contract

1/25/23

1/24/23

% Change

Change

12/23/22

% Change

1/25/22

% Change

 

 

NYMEX Henry Hub

Feb-23

$3.067

$3.258

-5.86%

-$0.19

$4.98

-38.41%

$4.26

-27.97%

 

 

Houston Ship Channel

Feb-23

-$0.418

-$0.305

36.98%

-$0.11

-$0.34

22.45%

$0.21

-295.87%

 

 

Chicago

Feb-23

$1.688

$1.363

-19.20%

$0.32

$0.93

81.32%

$0.52

222.47%

 

 

Waha

Feb-23

-$0.731

-$0.632

-15.63%

-$0.10

-$0.44

64.30%

-$0.05

1425.68%

 

 

Algonquin

Feb-23

$9.384

$9.742

-3.67%

-$0.36

$22.80

-58.84%

$14.61

-35.79%

 

 

Aeco

Feb-23

-$0.117

-$0.234

-49.83%

$0.12

-$1.09

-89.25%

-$0.93

-87.36%

 

 

Socal

Feb-23

$13.371

$11.361

17.70%

$2.01

$10.34

29.33%

$0.97

1274.09%

 

 

 

 

 

Natural Gas Liquids

 

 

 

EOXLive Market Data

 

 

 

Contract

1/25/23

1/24/23

% Change

Change

12/23/22

% Change

1/25/22

% Change

 

 

Mt. Belvieu Propane LST

Feb-23

$0.932

$0.921

1.23%

$0.01

$0.76

23.04%

$1.00

-6.79%

 

 

Mt. Belvieu Propane non LST

Feb-23

$0.950

$0.907

4.69%

$0.04

$0.75

26.81%

$1.01

-5.49%

 

 

Mt. Belview Ethane

Feb-23

$0.258

$0.263

-1.74%

$0.00

$0.34

-23.95%

$0.34

-23.33%

 

 

Mt. Belview Nat. Gasoline

Feb-23

$1.761

$1.825

-3.50%

-$0.06

$1.50

17.42%

$1.70

3.90%

 

 

Mt. Belvieu Butane LST

Feb-23

$1.154

$1.146

0.65%

$0.01

$0.92

26.08%

$1.15

0.68%

 

 

Conway Propane

Feb-23

$0.911

$0.887

2.60%

$0.02

$0.78

16.75%

$1.03

-11.93%

 

 

Conway Nat. Gasoline

Feb-23

$1.844

$1.801

2.43%

$0.04

$1.50

23.14%

$1.74

6.29%

 

 

 

 

Crude Oil

 

 

 

EOXLive Market Data

 

 

 

Contract

1/25/23

1/24/23

% Change

Change

12/23/22

% Change

1/25/22

% Change

 

 

WTI

Mar-23

$80.15

$80.13

0.02%

$0.02

$79.64

0.64%

$75.38

6.33%

 

 

Brent

Mar-23

$86.12

$86.13

-0.01%

-$0.01

$84.50

1.92%

$79.24

8.68%

 

 

WCS

Mar-23

-$23.30

-$22.62

2.91%

-$0.68

-$25.97

-10.27%

-$13.97

66.82%

 

 

LLS

Mar-23

$82.60

$83.00

-0.48%

-$0.40

$80.97

2.02%

$76.31

8.24%

 

 

Mars

Mar-23

$77.88

$77.48

0.51%

$0.40

$74.49

4.56%

$72.29

7.73%

 

 

Sour

Mar-23

$77.67

$76.83

1.08%

$0.84

$74.88

3.72%

$73.08

6.27%

 

 

ESPO

Mar-23

$84.67

$83.83

1.00%

$0.84

$81.35

4.08%

$76.10

11.27%

 

 

 

 

Refined Products

 

 

 

EOXLive Market Data

 

 

 

Contract

1/25/23

1/24/23

% Change

Change

12/23/22

% Change

1/25/22

% Change

 

 

NY Heating Oil

Feb-23

$3.36

$3.44

-2.32%

-$0.08

$3.21

4.60%

$2.38

41.30%

 

 

NY Gasoline

Feb-23

$2.60

$2.65

-1.89%

-$0.05

$2.38

9.37%

$2.17

19.63%

 

 

GC Gasoline

Feb-23

$2.50

$2.55

-1.96%

-$0.05

$2.28

9.78%

$2.08

20.58%

 

 

GC Jet

Feb-23

$4.13

$3.20

29.28%

$0.94

$2.85

45.27%

$2.17

90.20%

 

 

Chicago Ethanol

Feb-23

$2.14

$2.16

-0.74%

-$0.02

$2.26

-5.01%

$1.81

18.60%

 

 

Rotterdam Gasoil

Feb-23

$901.90

$929.72

-2.99%

-$27.82

$843.95

6.87%

$649.33

38.90%

 

 

Singapore Jet Kero

Feb-23

$121.48

$123.56

-1.68%

-$2.08

$107.52

12.98%

$90.62

34.05%

 

 

 

 

Implied Volatilities

 

 

 

EOXLive Market Data

 

 

 

Contract

1/25/23

1/24/23

% Change

Change

12/23/22

% Change

1/25/22

% Change

 

 

Henry Hub Straddle

Mar-23

91.09%

99.04%

-8.03%

-7.95%

94.52%

-3.63%

52.15%

74.67%

 

 

Algonquin Straddle

Mar-23

131.26%

144.75%

-9.32%

-13.49%

134.91%

-2.71%

80.75%

62.55%

 

 

Waha Straddle

Mar-23

265.72%

281.76%

-5.69%

-16.04%

201.02%

32.19%

64.35%

312.93%

 

 

Chicago Straddle

Mar-23

107.19%

113.63%

-5.67%

-6.44%

101.08%

6.04%

53.78%

99.31%

 

 

PJM West Straddle

Mar-23

101.13%

96.89%

4.38%

4.24%

86.46%

16.97%

38.83%

160.44%

 

 

SP – 15 Straddle

Mar-23

146.85%

138.62%

5.94%

8.23%

167.46%

-12.31%

24.27%

505.07%

 

 

Mid. C Straddle

Mar-23

135.09%

120.22%

12.37%

14.87%

377.60%

-64.22%

36.49%

270.21%

 

 

 

 

Euro Gas and Power/LNG

 

 

EOXLive Market Data

 

 

 

Contract

1/25/23

1/24/23

% Change

Change

12/23/22

% Change

1/25/22

% Change

 

 

Dutch TTF

Mar-23

EUR 58.37

EUR 59.28

-1.53%

-EUR 0.91

EUR 87.49

-33.28%

EUR 78.31

-25.46%

 

 

NBP

Mar-23

GBP 146.44

GBP 149.40

-1.98%

-GBP 2.96

GBP 217.75

-32.75%

GBP 200.20

-26.85%

 

 

German Base

Mar-23

EUR 126.00

EUR 127.36

-1.07%

-EUR 1.36

EUR 234.50

-46.27%

EUR 190.41

-33.83%

 

 

UK Base

Mar-23

GBP 138.58

GBP 139.53

-0.69%

-GBP 0.96

GBP 219.45

-36.85%

GBP 191.42

-27.61%

 

 

French Base

Mar-23

EUR 140.99

EUR 140.40

0.42%

EUR 0.59

EUR 255.49

-44.82%

EUR 229.33

-38.52%

 

 

Italian Base

Mar-23

EUR 158.87

EUR 162.06

-1.97%

-EUR 3.19

EUR 240.85

-34.04%

EUR 193.90

-18.07%

 

 

JKM LNG

Mar-23

$23.09

$21.44

7.68%

$1.65

$30.96

-25.44%

$28.20

-18.13%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

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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