Prices as of 6:01 AM CST

 

 

 

 

 

 

 

Current Price

Previous Settle

% Change

Change

Volume

 

 

Natural Gas

$3.228

$3.196

1.00%

$0.032

50,258

 

 

WTI

$68.27

$68.69

-0.61%

-$0.42

91,993

 

 

Brent

$71.70

$71.80

-0.14%

-$0.10

25,927

 

 

ULSD

$3.246

$3.182

2.00%

$0.064

10,284

 

 

RBOB

$2.948

$2.917

1.04%

$0.030

10,090

 

 

 

 

Spreads

 

 

 

 

 

 

 

Current

Previous

% Change

Change

Contract

 

 

WTI-Brent

$3.41

$3.15

8.25%

$0.26

Sep-26

 

 

3:2:1 Crack

$53.93

$51.99

3.73%

$1.94

Aug-26

 

 

PJM West Spark

$87.77

$84.82

3.47%

$2.94

Aug-26

 

 

 

 

Baker Hughes Rig Count

 

 

 

 

 

 

 

Date

Count

Change

1 Year Chg.

1 Year Date

 

 

U.S.

07/02/26

580

7

41

07/03/25

 

 

Canada

07/02/26

190

-7

39

07/03/25

 

 

International

June-2026

1073

27

-2

June-2025

 

 

 

 

CFTC Net Positions

 

 

 

 

 

 

As of 6/23/2026

Open Interest

Total Net Long

Total Net Short

Diff

 

 

PJM West On Peak

128,747

128,310

128,333

-23

 

 

PJM West Off Peak

122,365

122,077

121,962

115

 

 

Natural Gas Henry Hub

393,187

377,456

376,413

1,043

 

 

WTI – Light Sweet Crude Futures

444,248

384,655

360,317

24,338

 

 

Brent Crude Last Day

362,081

349,821

354,516

-4,695

 

 

NYM Ethanol

51,645

51,098

50,993

105

 

 

Mt Belvieu LDH Propane Swap

104,877

104,349

104,221

128

 

 

RBOB

318,251

293,957

303,055

-9,098

 

 

HSC Basis

958,030

950,412

949,445

967

 

 

 

 

EIA Short Term Energy Outlook

 

 

 

 

 

 

 

2023

2024

2025 Projected

2026 Projected

 

 

Brent

$0.00

$2.19

$0.00

$3.50

 

 

Gasoline

$0.00

$11.90

$0.00

$17.00

 

 

Crude Oil Production

$0.00

$0.00

$0.00

$0.00

 

 

Natural Gas Spot

$0.00

$42.00

$0.00

$39.00

 

 

LNG Exports

0.00

16.00

0.00

16.00

 

 

 

 

 

 

 

 

 

 

Electrical Generation %

2023

2024

2025 Projected

2026 Projected

 

 

Conventional hydropower

0.00%

6.00%

0.00%

6.00%

 

 

Wind

0.00%

11.00%

0.00%

11.00%

 

 

Solar

0.00%

5.00%

0.00%

8.00%

 

 

Other energy sources

0.00%

1.00%

0.00%

1.00%

 

 

 

 

 

 

 

 

 

 

 

Short Term Energy Outlook

 

Natural Gas Storage

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

EIA Lower 48 Natural Gas Storage

 

 

 

 

07/02/21

 

 

 

6/26/26

6/19/26

Net Change

% Change

6/27/25

% Change

5 Year Avg.

% Change

 

 

East

587

558

29

5.20%

602

-2.49%

582

0.93%

 

 

Midwest

706

672

34

5.06%

688

2.62%

674

4.69%

 

 

Mountain

230

227

3

1.32%

228

0.88%

191

20.42%

 

 

Pacific

313

312

1

0.32%

287

9.06%

254

23.13%

 

 

South

1,086

1,066

20

1.88%

1,148

-5.40%

1,069

1.61%

 

 

    Salt

330

325

5

1.54%

342

-3.51%

302

9.13%

 

 

    Non_Salt

756

741

15

2.02%

806

-6.20%

766

-1.36%

 

 

Total

2,922

2,835

87

3.07%

2,953

-1.05%

2,770

5.49%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Power Generation Additions/Retirements

 

 

  

 

Front Month Prices

 

 

 

 

 

 

 

 

 

 

 

 

 

Electricity

 

 

 

EOX Market Data

 

 

 

Contract

7/2/26

7/1/26

% Change

Change

6/3/26

% Change

7/2/25

% Change

 

 

PJM West On Peak

Aug-26

$94.60

$91.66

3.20%

$2.93

$79.89

18.40%

$78.98

19.77%

 

 

ERCOT North On Peak

Aug-26

$81.77

$78.17

4.61%

$3.60

$98.80

-17.24%

$132.80

-38.42%

 

 

CAISO SP 15 On Peak

Aug-26

$39.70

$38.45

3.26%

$1.25

$44.41

-10.60%

$72.30

-45.09%

 

 

MISO Indiana On Peak

Aug-26

$77.84

$73.15

6.42%

$4.70

$72.63

7.19%

$72.30

7.66%

 

 

NEISO Mass On Peak

Aug-26

$78.12

$71.93

8.60%

$6.19

$73.99

5.58%

$67.19

16.27%

 

 

WECC Mid C On Peak

Aug-26

$52.81

$50.25

5.09%

$2.56

$56.25

-6.12%

$117.88

-55.20%

 

 

NYISO Zone G On Peak

Aug-26

$80.37

$72.49

10.87%

$7.88

$67.77

18.59%

$67.14

19.71%

 

 

 

 

 

Natural Gas & Basis

 

 

 

EOX Market Data

 

 

 

Contract

7/2/26

7/1/26

% Change

Change

6/3/26

% Change

7/2/25

% Change

 

 

NYMEX Henry Hub

Aug-26

$3.196

$3.220

-0.75%

-$0.02

$3.24

-1.51%

$4.19

-23.67%

 

 

Houston Ship Channel

Aug-26

-$0.449

-$0.477

-6.01%

$0.03

-$0.48

-5.85%

-$0.30

50.00%

 

 

Chicago

Aug-26

-$0.439

-$0.465

5.87%

$0.03

-$0.44

0.43%

-$0.38

16.19%

 

 

Waha

Aug-26

-$2.421

-$2.580

-6.16%

$0.16

-$4.07

-40.50%

-$1.42

70.57%

 

 

Algonquin

Aug-26

-$0.279

-$0.265

-5.21%

-$0.01

-$0.31

-11.29%

-$0.02

1675.80%

 

 

Aeco

Aug-26

-$2.253

-$2.190

2.87%

-$0.06

-$1.85

21.63%

-$2.10

7.03%

 

 

Socal

Aug-26

-$0.254

-$0.245

3.76%

-$0.01

-$0.07

264.71%

$0.82

-131.15%

 

 

 

 

 

Natural Gas Liquids

 

 

 

EOX Market Data

 

 

 

Contract

7/2/26

7/1/26

% Change

Change

6/3/26

% Change

7/2/25

% Change

 

 

Mt. Belvieu Propane LST

Aug-26

$0.694

$0.711

-2.43%

-$0.02

$0.83

-15.88%

$0.68

1.96%

 

 

Mt. Belvieu Propane non LST

Aug-26

$0.674

$0.690

-2.36%

-$0.02

$0.81

-16.56%

$0.67

0.50%

 

 

Mt. Belview Ethane

Aug-26

$0.239

$0.238

0.53%

$0.00

$0.23

3.62%

$0.28

-14.07%

 

 

Mt. Belview Nat. Gasoline

Aug-26

$1.435

$1.468

-2.21%

-$0.03

$1.76

-18.29%

$1.28

12.40%

 

 

Mt. Belvieu Butane LST

Aug-26

$0.869

$0.881

-1.41%

-$0.01

$1.10

-21.29%

$0.77

13.24%

 

 

Far East Propane

Aug-26

$5.735

$5.709

0.45%

$0.03

$6.92

-17.13%

$4.92

16.51%

 

 

Saudi Propane

Aug-26

$5.000

$5.100

-1.96%

-$0.10

$6.32

-20.85%

$4.82

3.66%

 

 

 

 

Crude Oil

 

 

 

EOX Market Data

 

 

 

Contract

7/2/26

7/1/26

% Change

Change

6/3/26

% Change

7/2/25

% Change

 

 

WTI

Aug-26

$68.69

$68.58

0.16%

$0.11

$92.71

-25.91%

$62.20

10.43%

 

 

Brent

Aug-26

$71.65

$71.40

0.35%

$0.25

$97.81

-26.75%

$65.67

9.10%

 

 

WCS

Aug-26

-$15.11

-$14.60

3.40%

-$0.51

-$12.19

23.96%

-$13.28

13.75%

 

 

LLS

Aug-26

$68.18

$69.71

-2.25%

-$1.53

$90.61

-24.75%

$65.02

4.86%

 

 

Mars

Aug-26

$63.21

$66.40

-5.04%

-$3.19

$91.94

-31.25%

$61.82

2.25%

 

 

Sour

Aug-26

$67.77

$68.92

-1.68%

-$1.14

$92.11

-26.42%

$61.81

9.66%

 

 

ESPO

Aug-26

$69.65

$69.40

0.36%

$0.25

$95.81

-27.31%

$63.67

9.39%

 

 

 

 

Refined Products

 

 

 

EOX Market Data

 

 

 

Contract

7/2/26

7/1/26

% Change

Change

6/3/26

% Change

7/2/25

% Change

 

 

NY Heating Oil

Aug-26

$3.18

$3.21

-1.12%

-$0.04

$3.78

-15.90%

$2.13

48.99%

 

 

NY Gasoline

Aug-26

$2.92

$2.94

-0.71%

-$0.02

$3.09

-5.69%

$2.00

46.14%

 

 

GC Gasoline

Aug-26

$2.78

$2.80

-0.75%

-$0.02

$2.95

-5.96%

$1.86

49.62%

 

 

GC Jet

Aug-26

$2.74

$2.79

-1.76%

-$0.05

$3.43

-20.05%

$2.06

33.14%

 

 

Chicago Ethanol

Aug-26

$1.89

$1.88

0.80%

$0.01

$1.97

-3.56%

$1.66

14.29%

 

 

Rotterdam Gasoil

Aug-26

$815.09

$821.00

-0.72%

-$5.91

$922.83

-11.67%

$605.80

34.55%

 

 

Singapore Jet Kero

Aug-26

$114.25

$113.67

0.51%

$0.58

$137.60

-16.97%

$80.87

41.28%

 

 

 

 

Implied Volatilities

 

 

 

EOX Market Data

 

 

 

Contract

7/2/26

7/1/26

% Change

Change

6/3/26

% Change

7/2/25

% Change

 

 

Henry Hub Straddle

Aug-26

46.20%

45.03%

2.58%

1.16%

49.10%

-5.92%

39.87%

15.86%

 

 

Algonquin Straddle

Aug-26

53.76%

51.81%

3.75%

1.94%

62.01%

-13.31%

37.42%

43.65%

 

 

Waha Straddle

Aug-26

680.12%

694.96%

-2.14%

-14.84%

195.72%

247.50%

56.03%

1113.86%

 

 

Chicago Straddle

Aug-26

49.09%

47.63%

3.08%

1.47%

49.30%

-0.42%

40.08%

22.49%

 

 

PJM West Straddle

Aug-26

97.15%

91.56%

6.11%

5.59%

65.21%

48.98%

41.54%

133.87%

 

 

SP – 15 Straddle

Aug-26

163.20%

166.41%

-1.93%

-3.21%

266.35%

-38.73%

144.25%

13.14%

 

 

Mid. C Straddle

Aug-26

41.14%

29.82%

37.96%

11.32%

46.24%

-11.03%

104.01%

-60.45%

 

 

 

 

Euro Gas and Power/LNG

 

 

EOX Market Data

 

 

 

Contract

7/2/26

7/1/26

% Change

Change

6/3/26

% Change

7/2/25

% Change

 

 

Dutch TTF

Aug-26

EUR 43.04

EUR 43.03

0.03%

EUR 0.01

EUR 49.22

-12.55%

EUR 32.55

32.23%

 

 

NBP

Aug-26

GBP 106.13

GBP 102.08

3.97%

GBP 4.05

GBP 119.17

-10.94%

GBP 81.27

30.58%

 

 

German Base

Aug-26

EUR 104.40

EUR 101.01

3.36%

EUR 3.39

EUR 99.71

4.70%

EUR 81.05

28.81%

 

 

UK Base

Aug-26

GBP 91.93

GBP 94.54

-2.76%

-GBP 2.61

GBP 101.00

-8.98%

GBP 68.94

33.35%

 

 

French Base

Aug-26

EUR 59.95

EUR 56.88

5.40%

EUR 3.07

EUR 50.12

19.61%

EUR 49.64

20.76%

 

 

Italian Base

Aug-26

EUR 132.12

EUR 132.20

-0.06%

-EUR 0.08

EUR 140.86

-6.21%

EUR 106.96

23.52%

 

 

JKM LNG

Aug-26

$16.66

$16.41

1.51%

$0.25

$18.88

-11.75%

$11.98

39.05%

 

 

 

 

Freight Forwards (WET & DRY)

 

EOX Market Data

 

 

 

Contract

7/2/26

7/1/26

% Change

Change

6/3/26

% Change

7/2/25

% Change

 

 

TD3C FFA Middle East to China (WET)

Aug-26

$50.43

$43.45

16.06%

$6.98

$53.39

-5.54%

$9.97

405.82%

 

 

USGC-UK Continent Dirty (WET)

Aug-26

$40.55

$39.92

1.58%

$0.63

$41.77

-2.92%

$23.69

71.17%

 

 

TD20 West Africa to UK Continent (WET)

Aug-26

$30.32

$29.27

3.59%

$1.05

$20.04

51.30%

$10.05

201.69%

 

 

LPG FFA Middle East Gulf to East (WET)

Aug-26

$187.00

$173.71

7.65%

$13.29

$137.75

35.75%

$57.95

222.69%

 

 

TC5 FFA Arabian Gulf to Japan (WET)

Aug-26

$63.11

$68.75

-8.20%

-$5.64

$57.12

10.49%

$27.68

128.00%

 

 

Supramax Timecharter (DRY)

Aug-26

$18,260.10

$18,532.80

-1.47%

-$272.70

$18,368.60

-0.59%

$10,545.00

73.16%

 

 

Capesize Timecharter (DRY)

Aug-26

$32,680.50

$32,194.00

1.51%

$486.50

$31,789.80

2.80%

$21,110.70

54.81%

 

 

 

 

AGs and Softs

 

 

 

EOX Market Data

 

 

 

Contract

7/2/26

7/1/26

% Change

Change

6/3/26

% Change

7/2/25

% Change

 

 

Chicago Corn

Aug-26

$4.22

$4.17

1.32%

$0.06

$4.45

-5.08%

$4.53

-6.84%

 

 

Chicago Beans

Aug-26

$11.35

$11.30

0.43%

$0.05

$11.64

-2.47%

$10.98

3.43%

 

 

London Wheat

Aug-26

GBP 171.90

GBP 173.43

-0.88%

-GBP 1.53

GBP 180.95

-5.00%

GBP 189.64

-9.35%

 

 

London Coffee

Aug-26

$3,871.82

$3,863.53

0.21%

$8.29

$3,326.87

16.38%

$3,339.54

15.94%

 

 

New York Coffee

Aug-26

$312.85

$320.65

-2.43%

-$7.79

$251.48

24.40%

$266.19

17.53%

 

 

New York Cotton

Aug-26

$73.43

$73.93

-0.68%

-$0.50

$77.12

-4.78%

$71.23

3.10%

 

 

Canada Canola

Aug-26

CAD 739.62

CAD 723.37

2.25%

CAD 16.25

CAD 797.24

-7.23%

CAD 748.35

-1.17%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

Cooling Degree Days

 

 

 

 

 

 

07/04/2026

Week Tot

Dev Norm

Dev L YR

Cum Tot

CumD Norm

CumD L YR

CumD Norm

CumD L YR

 

 

New England

80

50

30

201

114

37

NA

NA

 

 

Middle Atlantic

101

56

31

300

133

56

80.00%

23.00%

 

 

E N Central

103

55

26

258

31

-20

14.00%

-7.00%

 

 

W N Central

93

31

17

366

64

48

21.00%

15.00%

 

 

South Atlantic

120

30

16

892

161

13

22.00%

1.00%

 

 

E S Central

120

34

24

686

148

25

28.00%

4.00%

 

 

W S Central

136

19

22

1,196

272

96

29.00%

9.00%

 

 

Mountain

53

-17

-25

482

68

47

16.00%

11.00%

 

 

Pacific

18

-17

-26

161

-16

9

-9.00%

5.00%

 

 

United States

92

26

12

517

104

29

25.00%

6.00%

 

 

 

 

Heating Degree Days

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

07/04/2026

Week Tot

Dev Norm

Dev L YR

Cum Tot

CumD Norm

CumD L YR

CumD Norm

CumD L YR

 

 

New England

0

-4

-2

6,617

6

419

0.00%

7.00%

 

 

Middle Atlantic

0

-1

0

5,812

-99

457

-2.00%

9.00%

 

 

E N Central

0

-2

0

6,083

-414

146

-6.00%

2.00%

 

 

W N Central

0

-4

0

5,889

-861

-263

-13.00%

-4.00%

 

 

South Atlantic

0

0

0

2,731

-122

138

-4.00%

5.00%

 

 

E S Central

0

0

0

3,127

-477

-54

-13.00%

-2.00%

 

 

W S Central

0

0

0

1,702

-585

-241

-26.00%

-12.00%

 

 

Mountain

8

-1

8

3,932

-1,277

-816

-25.00%

-17.00%

 

 

Pacific

10

1

8

2,413

-815

-667

-25.00%

-22.00%

 

 

United States

2

0

2

4,058

-466

-70

-10.00%

-2.00%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gas * Power * NGL * Crude * Products * Vol * Freight * Ags * Spreads – Charts

 

 

 

 

 

 

Weather Forecast & Seasonal Outlook

 

Tropical Outlook

 

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