|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Prices as of 7:01 AM CST
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current Price
|
Previous Settle
|
% Change
|
Change
|
Volume
|
|
|
|
Natural Gas
|
$6.028
|
$5.275
|
14.27%
|
$0.753
|
21,456
|
|
|
|
WTI
|
$60.92
|
$61.07
|
-0.25%
|
-$0.15
|
87,478
|
|
|
|
Brent
|
$65.79
|
$65.88
|
-0.14%
|
-$0.09
|
9,414
|
|
|
|
ULSD
|
$2.502
|
$2.428
|
3.04%
|
$0.074
|
9,907
|
|
|
|
RBOB
|
$1.832
|
$1.851
|
-1.02%
|
-$0.019
|
2,596
|
|
|
|
|
|
|
|
|
|
|
|
|
Spreads
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current
|
Previous
|
% Change
|
Change
|
Contract
|
|
|
|
WTI-Brent
|
$4.84
|
$4.81
|
0.62%
|
$0.03
|
Mar-26
|
|
|
|
3:2:1 Crack
|
$24.09
|
$24.04
|
0.21%
|
$0.05
|
Mar-26
|
|
|
|
PJM West Spark
|
$74.19
|
$73.29
|
1.23%
|
$0.91
|
Feb-26
|
|
|
|
|
|
|
|
|
|
|
|
|
Baker Hughes Rig Count
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Date
|
Count
|
Change
|
1 Year Chg.
|
1 Year Date
|
|
|
|
U.S.
|
01/23/26
|
544
|
1
|
-32
|
01/24/25
|
|
|
|
Canada
|
01/23/26
|
231
|
5
|
-14
|
01/24/25
|
|
|
|
International
|
Dec-2025
|
1065
|
-8
|
-49
|
Dec-2024
|
|
|
|
|
|
|
|
|
|
|
|
|
CFTC Net Positions
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of 1/20/2026
|
Open Interest
|
Total Net Long
|
Total Net Short
|
Diff
|
|
|
|
PJM West On Peak
|
124,033
|
123,693
|
123,490
|
203
|
|
|
|
PJM West Off Peak
|
116,408
|
116,019
|
115,869
|
150
|
|
|
|
Natural Gas Henry Hub
|
360,188
|
346,281
|
339,527
|
6,754
|
|
|
|
WTI – Light Sweet Crude Futures
|
170,314
|
140,122
|
134,565
|
5,557
|
|
|
|
Brent Crude Last Day
|
290,494
|
281,438
|
284,701
|
-3,263
|
|
|
|
NYM Ethanol
|
39,885
|
39,155
|
39,261
|
-106
|
|
|
|
Mt Belvieu LDH Propane Swap
|
129,926
|
129,224
|
129,591
|
-367
|
|
|
|
RBOB
|
458,678
|
432,269
|
440,801
|
-8,532
|
|
|
|
HSC Basis
|
770,061
|
763,912
|
765,522
|
-1,610
|
|
|
|
|
|
|
|
|
|
|
|
|
EIA Short Term Energy Outlook
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2023
|
2024
|
2025 Projected
|
2026 Projected
|
|
|
|
Brent
|
$82.00
|
$81.00
|
$66.00
|
$59.00
|
|
|
|
Gasoline
|
$3.50
|
$3.30
|
$3.10
|
$3.10
|
|
|
|
Crude Oil Production
|
$12.90
|
$13.20
|
$13.40
|
$13.50
|
|
|
|
Natural Gas Spot
|
$2.50
|
$2.20
|
$4.10
|
$4.80
|
|
|
|
LNG Exports
|
12.00
|
12.00
|
15.00
|
16.00
|
|
|
|
|
|
|
|
|
|
|
|
|
Electrical Generation %
|
2023
|
2024
|
2025 Projected
|
2026 Projected
|
|
|
|
Natural gas
|
42.00%
|
42.00%
|
40.00%
|
40.00%
|
|
|
|
Coal
|
17.00%
|
16.00%
|
16.00%
|
15.00%
|
|
|
|
Renewables
|
22.00%
|
23.00%
|
25.00%
|
27.00%
|
|
|
|
Nuclear
|
19.00%
|
19.00%
|
19.00%
|
19.00%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Short Term Energy Outlook
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EIA Lower 48 Natural Gas Storage
|
|
|
|
|
|
|
|
|
|
|
|
|
|
01/22/21
|
|
|
|
|
|
1/16/26
|
1/9/26
|
Net Change
|
% Change
|
1/17/25
|
% Change
|
5 Year Avg.
|
% Change
|
|
|
|
East
|
632
|
664
|
-32
|
-4.82%
|
613
|
3.10%
|
628
|
0.57%
|
|
|
|
Midwest
|
752
|
790
|
-38
|
-4.81%
|
744
|
1.08%
|
752
|
-0.05%
|
|
|
|
Mountain
|
242
|
251
|
-9
|
-3.59%
|
229
|
5.68%
|
175
|
38.13%
|
|
|
|
Pacific
|
300
|
302
|
-2
|
-0.66%
|
269
|
11.52%
|
225
|
33.57%
|
|
|
|
South
|
1,139
|
1,178
|
-39
|
-3.31%
|
1,037
|
9.84%
|
1,009
|
12.86%
|
|
|
|
Salt
|
343
|
355
|
-12
|
-3.38%
|
297
|
15.49%
|
289
|
18.85%
|
|
|
|
Non_Salt
|
796
|
823
|
-27
|
-3.28%
|
739
|
7.71%
|
720
|
10.52%
|
|
|
|
Total
|
3,065
|
3,185
|
-120
|
-3.77%
|
2,892
|
5.98%
|
2,790
|
9.86%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Power Generation Additions/Retirements
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Front Month Prices
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Electricity
|
|
|
|
OTCGH/EOXLive Market Data
|
|
|
|
|
Contract
|
1/23/26
|
1/22/26
|
% Change
|
Change
|
12/23/25
|
% Change
|
1/23/25
|
% Change
|
|
|
|
PJM West On Peak
|
Feb-26
|
$87.17
|
$84.58
|
3.07%
|
$2.60
|
$73.37
|
18.81%
|
$65.38
|
33.33%
|
|
|
|
ERCOT North On Peak
|
Feb-26
|
$66.43
|
$66.10
|
0.49%
|
$0.32
|
$55.88
|
18.87%
|
$69.87
|
-4.93%
|
|
|
|
CAISO SP 15 On Peak
|
Feb-26
|
$28.86
|
$32.50
|
-11.21%
|
-$3.64
|
$29.30
|
-1.51%
|
$47.91
|
-39.77%
|
|
|
|
MISO Indiana On Peak
|
Feb-26
|
$61.35
|
$59.35
|
3.36%
|
$1.99
|
$56.52
|
8.54%
|
$55.27
|
11.00%
|
|
|
|
NEISO Mass On Peak
|
Feb-26
|
$135.71
|
$135.52
|
0.14%
|
$0.19
|
$136.57
|
-0.63%
|
$121.68
|
11.53%
|
|
|
|
WECC Mid C On Peak
|
Feb-26
|
$33.44
|
$35.00
|
-4.44%
|
-$1.56
|
$34.42
|
-2.84%
|
$77.78
|
-57.00%
|
|
|
|
NYISO Zone G On Peak
|
Feb-26
|
$125.87
|
$123.17
|
2.19%
|
$2.69
|
$118.33
|
6.37%
|
$96.63
|
30.26%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Natural Gas & Basis
|
|
|
|
OTCGH/EOXLive Market Data
|
|
|
|
|
Contract
|
1/23/26
|
1/22/26
|
% Change
|
Change
|
12/23/25
|
% Change
|
1/23/25
|
% Change
|
|
|
|
NYMEX Henry Hub
|
Feb-26
|
$5.275
|
$5.045
|
4.56%
|
$0.23
|
$3.90
|
35.40%
|
$4.57
|
15.53%
|
|
|
|
Houston Ship Channel
|
Feb-26
|
-$0.452
|
-$0.414
|
9.15%
|
-$0.04
|
-$0.41
|
10.65%
|
-$0.07
|
524.17%
|
|
|
|
Chicago
|
Feb-26
|
$0.686
|
$0.938
|
36.71%
|
-$0.25
|
$0.34
|
99.07%
|
$0.81
|
-15.06%
|
|
|
|
Waha
|
Feb-26
|
-$3.127
|
-$3.326
|
-5.98%
|
$0.20
|
-$3.28
|
-4.74%
|
-$0.84
|
270.14%
|
|
|
|
Algonquin
|
Feb-26
|
$10.747
|
$12.574
|
-14.53%
|
-$1.83
|
$10.71
|
0.31%
|
$8.87
|
21.16%
|
|
|
|
Aeco
|
Feb-26
|
-$3.322
|
-$3.675
|
-9.60%
|
$0.35
|
-$1.62
|
104.68%
|
-$2.33
|
42.75%
|
|
|
|
Socal
|
Feb-26
|
-$1.803
|
-$1.973
|
-8.61%
|
$0.17
|
-$0.49
|
264.64%
|
$0.94
|
-291.30%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Natural Gas Liquids
|
|
|
|
OTCGH/EOXLive Market Data
|
|
|
|
|
Contract
|
1/23/26
|
1/22/26
|
% Change
|
Change
|
12/23/25
|
% Change
|
1/23/25
|
% Change
|
|
|
|
Mt. Belvieu Propane LST
|
Feb-26
|
$0.660
|
$0.659
|
0.13%
|
$0.00
|
$0.65
|
1.36%
|
$0.79
|
-15.98%
|
|
|
|
Mt. Belvieu Propane non LST
|
Feb-26
|
$0.657
|
$0.662
|
-0.62%
|
$0.00
|
$0.63
|
4.74%
|
$0.79
|
-17.22%
|
|
|
|
Mt. Belview Ethane
|
Feb-26
|
$0.260
|
$0.252
|
2.96%
|
$0.01
|
$0.25
|
2.02%
|
$0.30
|
-13.39%
|
|
|
|
Mt. Belview Nat. Gasoline
|
Feb-26
|
$1.262
|
$1.238
|
1.99%
|
$0.02
|
$1.20
|
5.23%
|
$1.41
|
-10.79%
|
|
|
|
Mt. Belvieu Butane LST
|
Feb-26
|
$0.774
|
$0.803
|
-3.56%
|
-$0.03
|
$0.78
|
-1.17%
|
$0.92
|
-15.95%
|
|
|
|
Far East Propane
|
Feb-26
|
$5.500
|
$5.519
|
-0.34%
|
-$0.02
|
$5.00
|
10.01%
|
$5.72
|
-3.91%
|
|
|
|
Saudi Propane
|
Feb-26
|
$5.379
|
$5.353
|
0.48%
|
$0.03
|
$5.02
|
7.16%
|
$5.54
|
-2.88%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Crude Oil
|
|
|
|
OTCGH/EOXLive Market Data
|
|
|
|
|
Contract
|
1/23/26
|
1/22/26
|
% Change
|
Change
|
12/23/25
|
% Change
|
1/23/25
|
% Change
|
|
|
|
WTI
|
Mar-26
|
$61.07
|
$59.36
|
2.80%
|
$1.71
|
$58.13
|
5.06%
|
$68.70
|
-11.11%
|
|
|
|
Brent
|
Mar-26
|
$65.88
|
$64.06
|
2.76%
|
$1.82
|
$61.87
|
6.48%
|
$72.58
|
-9.23%
|
|
|
|
WCS
|
Mar-26
|
-$15.09
|
-$14.60
|
3.25%
|
-$0.49
|
-$12.93
|
16.71%
|
-$16.10
|
-6.30%
|
|
|
|
LLS
|
Mar-26
|
$61.86
|
$60.51
|
2.18%
|
$1.35
|
$59.16
|
4.57%
|
$70.85
|
-12.70%
|
|
|
|
Mars
|
Mar-26
|
$56.93
|
$57.20
|
-0.46%
|
-$0.26
|
$56.91
|
0.04%
|
$68.30
|
-16.65%
|
|
|
|
Sour
|
Mar-26
|
$60.79
|
$59.54
|
2.05%
|
$1.25
|
$57.87
|
5.04%
|
$68.93
|
-11.81%
|
|
|
|
ESPO
|
Mar-26
|
$63.88
|
$62.06
|
2.85%
|
$1.82
|
$59.87
|
6.70%
|
$70.58
|
-9.49%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Refined Products
|
|
|
|
OTCGH/EOXLive Market Data
|
|
|
|
|
Contract
|
1/23/26
|
1/22/26
|
% Change
|
Change
|
12/23/25
|
% Change
|
1/23/25
|
% Change
|
|
|
|
NY Heating Oil
|
Feb-26
|
$2.44
|
$2.37
|
3.03%
|
$0.07
|
$2.17
|
12.83%
|
$2.31
|
5.80%
|
|
|
|
NY Gasoline
|
Feb-26
|
$1.84
|
$1.82
|
1.21%
|
$0.02
|
$1.75
|
5.14%
|
$1.95
|
-5.40%
|
|
|
|
GC Gasoline
|
Feb-26
|
$1.70
|
$1.68
|
1.31%
|
$0.02
|
$1.61
|
5.59%
|
$1.85
|
-7.86%
|
|
|
|
GC Jet
|
Feb-26
|
$2.18
|
$2.14
|
1.87%
|
$0.04
|
$1.97
|
10.67%
|
$2.08
|
4.81%
|
|
|
|
Chicago Ethanol
|
Feb-26
|
$1.61
|
$1.60
|
0.62%
|
$0.01
|
$1.59
|
1.26%
|
$1.61
|
0.19%
|
|
|
|
Rotterdam Gasoil
|
Feb-26
|
$592.99
|
$587.67
|
0.91%
|
$5.32
|
$562.96
|
5.34%
|
$639.07
|
-7.21%
|
|
|
|
Singapore Jet Kero
|
Feb-26
|
$84.09
|
$83.79
|
0.36%
|
$0.30
|
$79.40
|
5.90%
|
$89.30
|
-5.83%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Implied Volatilities
|
|
|
|
OTCGH/EOXLive Market Data
|
|
|
|
|
Contract
|
1/23/26
|
1/22/26
|
% Change
|
Change
|
12/23/25
|
% Change
|
1/23/25
|
% Change
|
|
|
|
Henry Hub Straddle
|
Mar-26
|
90.59%
|
87.62%
|
3.39%
|
2.97%
|
64.10%
|
41.33%
|
49.86%
|
81.69%
|
|
|
|
Algonquin Straddle
|
Mar-26
|
109.10%
|
96.76%
|
12.75%
|
12.34%
|
88.78%
|
22.89%
|
81.95%
|
33.13%
|
|
|
|
Waha Straddle
|
Mar-26
|
2049.28%
|
1877.84%
|
9.13%
|
171.44%
|
1929.91%
|
6.19%
|
102.84%
|
1892.69%
|
|
|
|
Chicago Straddle
|
Mar-26
|
103.93%
|
100.01%
|
3.92%
|
3.92%
|
67.45%
|
54.08%
|
53.17%
|
95.47%
|
|
|
|
PJM West Straddle
|
Mar-26
|
63.93%
|
64.20%
|
-0.42%
|
-0.27%
|
54.48%
|
17.35%
|
47.20%
|
35.44%
|
|
|
|
SP – 15 Straddle
|
Mar-26
|
198.26%
|
900.78%
|
-77.99%
|
-702.52%
|
230.86%
|
-14.12%
|
221.18%
|
-10.36%
|
|
|
|
Mid. C Straddle
|
Mar-26
|
154.50%
|
149.38%
|
3.43%
|
5.12%
|
43.54%
|
254.85%
|
69.44%
|
122.49%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Euro Gas and Power/LNG
|
|
|
OTCGH/EOXLive Market Data
|
|
|
|
|
Contract
|
1/23/26
|
1/22/26
|
% Change
|
Change
|
12/23/25
|
% Change
|
1/23/25
|
% Change
|
|
|
|
Dutch TTF
|
Mar-26
|
EUR 37.56
|
EUR 36.43
|
3.10%
|
EUR 1.13
|
EUR 27.23
|
37.94%
|
EUR 41.87
|
-10.30%
|
|
|
|
NBP
|
Mar-26
|
GBP 92.47
|
GBP 88.61
|
4.35%
|
GBP 3.85
|
GBP 67.89
|
36.19%
|
GBP 110.95
|
-16.66%
|
|
|
|
German Base
|
Mar-26
|
EUR 99.41
|
EUR 97.16
|
2.32%
|
EUR 2.25
|
EUR 83.44
|
19.13%
|
EUR 96.10
|
3.44%
|
|
|
|
UK Base
|
Mar-26
|
GBP 88.13
|
GBP 88.39
|
-0.29%
|
-GBP 0.25
|
GBP 72.67
|
21.27%
|
GBP 89.20
|
-1.20%
|
|
|
|
French Base
|
Mar-26
|
EUR 77.69
|
EUR 76.12
|
2.06%
|
EUR 1.57
|
EUR 56.81
|
36.75%
|
EUR 85.18
|
-8.79%
|
|
|
|
Italian Base
|
Mar-26
|
EUR 123.49
|
EUR 120.94
|
2.10%
|
EUR 2.54
|
EUR 101.72
|
21.39%
|
EUR 115.71
|
6.72%
|
|
|
|
JKM LNG
|
Mar-26
|
$11.79
|
$11.53
|
2.30%
|
$0.26
|
$9.69
|
21.65%
|
$13.56
|
-12.99%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Freight Forwards (WET & DRY)
|
|
OTCGH/EOXLive Market Data
|
|
|
|
|
Contract
|
1/23/26
|
1/22/26
|
% Change
|
Change
|
12/23/25
|
% Change
|
1/23/25
|
% Change
|
|
|
|
TD3C FFA Middle East to China (WET)
|
Mar-26
|
$37.56
|
$36.43
|
3.10%
|
$1.13
|
$27.23
|
37.94%
|
$41.87
|
-10.30%
|
|
|
|
USGC-UK Continent Dirty (WET)
|
Mar-26
|
$92.47
|
$88.61
|
4.35%
|
$3.85
|
$67.89
|
36.19%
|
$110.95
|
-16.66%
|
|
|
|
TD20 West Africa to UK Continent (WET)
|
Mar-26
|
$99.41
|
$97.16
|
2.32%
|
$2.25
|
$83.44
|
19.13%
|
$96.10
|
3.44%
|
|
|
|
LPG FFA Middle East Gulf to East (WET)
|
Mar-26
|
$88.13
|
$88.39
|
-0.29%
|
-$0.25
|
$72.67
|
21.27%
|
$89.20
|
-1.20%
|
|
|
|
TC5 FFA Arabian Gulf to Japan (WET)
|
Mar-26
|
$77.69
|
$76.12
|
2.06%
|
$1.57
|
$56.81
|
36.75%
|
$85.18
|
-8.79%
|
|
|
|
Supramax Timecharter (DRY)
|
Mar-26
|
$123.49
|
$120.94
|
2.10%
|
$2.54
|
$101.72
|
21.39%
|
$115.71
|
6.72%
|
|
|
|
Capesize Timecharter (DRY)
|
Mar-26
|
$11.79
|
$11.53
|
2.30%
|
$0.26
|
$9.69
|
21.65%
|
$13.56
|
-12.99%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cooling Degree Days
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
01/24/2026
|
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
|
17
|
-9
|
12
|
NA
|
NA
|
|
|
|
E S Central
|
0
|
-2
|
0
|
0
|
-6
|
0
|
NA
|
NA
|
|
|
|
W S Central
|
0
|
-4
|
0
|
13
|
2
|
11
|
NA
|
NA
|
|
|
|
Mountain
|
0
|
0
|
0
|
0
|
0
|
0
|
NA
|
NA
|
|
|
|
Pacific
|
0
|
-1
|
0
|
0
|
-1
|
0
|
NA
|
NA
|
|
|
|
United States
|
1
|
-1
|
0
|
5
|
-2
|
4
|
NA
|
NA
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Heating Degree Days
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
01/24/2026
|
Week Tot
|
Dev Norm
|
Dev L YR
|
Cum Tot
|
CumD Norm
|
CumD L YR
|
CumD Norm
|
CumD L YR
|
|
|
|
New England
|
304
|
20
|
-22
|
3,393
|
-32
|
184
|
-1.00%
|
6.00%
|
|
|
|
Middle Atlantic
|
305
|
41
|
-16
|
3,027
|
-59
|
186
|
-2.00%
|
7.00%
|
|
|
|
E N Central
|
373
|
77
|
2
|
3,345
|
-137
|
194
|
-4.00%
|
6.00%
|
|
|
|
W N Central
|
382
|
67
|
-8
|
3,275
|
-503
|
-71
|
-13.00%
|
-2.00%
|
|
|
|
South Atlantic
|
164
|
18
|
-39
|
1,510
|
-72
|
-46
|
-5.00%
|
-3.00%
|
|
|
|
E S Central
|
218
|
32
|
-52
|
1,843
|
-207
|
-49
|
-10.00%
|
-3.00%
|
|
|
|
W S Central
|
149
|
15
|
-65
|
1,010
|
-360
|
-156
|
-26.00%
|
-13.00%
|
|
|
|
Mountain
|
205
|
-8
|
-67
|
2,184
|
-707
|
-391
|
-24.00%
|
-15.00%
|
|
|
|
Pacific
|
99
|
-26
|
-28
|
1,278
|
-418
|
-222
|
-25.00%
|
-15.00%
|
|
|
|
United States
|
234
|
26
|
-30
|
2,209
|
-243
|
-27
|
-10.00%
|
-1.00%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gas * Power * NGL * Crude * Products * Vol * Freight * Spreads – Charts
|
|
Weather Forecast & Seasonal Outlook
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
