Morning Report: Gas * Power * NGL * Crude * Products * Vols — Jun-09-2026

Jun 9, 2026

  

 

 

 

 

 

 

 

 

 

Prices as of 7:24 AM CST

 

 

 

 

 

 

 

Current Price

Previous Settle

% Change

Change

Volume

 

 

Natural Gas

$3.171

$3.147

0.76%

$0.024

19,779

 

 

WTI

$89.56

$91.30

-1.91%

-$1.74

49,947

 

 

Brent

$92.80

$94.25

-1.54%

-$1.45

8,879

 

 

ULSD

$3.577

$3.600

-0.65%

-$0.023

3,434

 

 

RBOB

$3.061

$3.071

-0.31%

-$0.009

3,522

 

 

 

 

Spreads

 

 

 

 

 

 

 

Current

Previous

% Change

Change

Contract

 

 

WTI-Brent

$5.01

$5.00

0.20%

$0.01

Aug-26

 

 

3:2:1 Crack

$46.21

$45.32

1.97%

$0.89

Jul-26

 

 

PJM West Spark

$84.37

$85.78

-1.64%

-$1.41

Jul-26

 

 

 

 

Baker Hughes Rig Count

 

 

 

 

 

 

 

Date

Count

Change

1 Year Chg.

1 Year Date

 

 

U.S.

06/05/26

563

1

4

06/06/25

 

 

Canada

06/05/26

169

7

55

06/06/25

 

 

International

May-2026

1046

-3

-25

May-2025

 

 

 

 

CFTC Net Positions

 

 

 

 

 

 

As of 6/2/2026

Open Interest

Total Net Long

Total Net Short

Diff

 

 

PJM West On Peak

132,211

131,430

131,739

-309

 

 

PJM West Off Peak

125,061

124,631

124,661

-30

 

 

Natural Gas Henry Hub

386,491

371,126

368,195

2,931

 

 

WTI – Light Sweet Crude Futures

425,719

360,850

333,203

27,647

 

 

Brent Crude Last Day

315,926

303,589

309,452

-5,863

 

 

NYM Ethanol

59,557

57,807

57,553

254

 

 

Mt Belvieu LDH Propane Swap

112,228

110,961

111,453

-492

 

 

RBOB

303,631

276,228

287,422

-11,194

 

 

HSC Basis

977,295

962,949

964,961

-2,012

 

 

 

 

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

 

 

 

 

06/04/21

 

 

 

5/29/26

5/22/26

Net Change

% Change

5/30/25

% Change

5 Year Avg.

% Change

 

 

East

480

447

33

7.38%

498

-3.61%

491

-2.32%

 

 

Midwest

573

539

34

6.31%

579

-1.04%

571

0.32%

 

 

Mountain

218

213

5

2.35%

205

6.34%

168

30.07%

 

 

Pacific

298

292

6

2.05%

261

14.18%

236

26.27%

 

 

South

1,009

993

16

1.61%

1,055

-4.36%

1,024

-1.46%

 

 

    Salt

310

305

5

1.64%

340

-8.82%

308

0.52%

 

 

    Non_Salt

699

688

11

1.60%

715

-2.24%

716

-2.37%

 

 

Total

2,578

2,483

95

3.83%

2,598

-0.77%

2,490

3.53%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Power Generation Additions/Retirements

 

 

  

 

Front Month Prices

 

 

 

 

 

 

 

 

 

 

 

 

 

Electricity

 

 

 

EOX Market Data

 

 

 

Contract

6/8/26

6/5/26

% Change

Change

5/8/26

% Change

6/6/25

% Change

 

 

PJM West On Peak

Jul-26

$91.17

$92.51

-1.45%

-$1.35

$95.04

-4.07%

$85.88

6.15%

 

 

ERCOT North On Peak

Jul-26

$56.97

$57.13

-0.29%

-$0.16

$65.59

-13.15%

$86.36

-34.03%

 

 

CAISO SP 15 On Peak

Jul-26

$35.25

$34.19

3.11%

$1.06

$33.23

6.07%

$61.40

-42.59%

 

 

MISO Indiana On Peak

Jul-26

$75.44

$76.59

-1.49%

-$1.14

$76.58

-1.48%

$78.50

-3.90%

 

 

NEISO Mass On Peak

Jul-26

$83.82

$86.58

-3.18%

-$2.75

$87.03

-3.68%

$80.21

4.51%

 

 

WECC Mid C On Peak

Jul-26

$41.50

$42.15

-1.54%

-$0.65

$46.22

-10.22%

$83.58

-50.35%

 

 

NYISO Zone G On Peak

Jul-26

$79.32

$86.95

-8.77%

-$7.62

$85.04

-6.72%

$75.62

4.90%

 

 

 

 

 

Natural Gas & Basis

 

 

 

EOX Market Data

 

 

 

Contract

6/8/26

6/5/26

% Change

Change

5/8/26

% Change

6/6/25

% Change

 

 

NYMEX Henry Hub

Jul-26

$3.147

$3.229

-2.54%

-$0.08

$3.01

4.66%

$4.33

-27.29%

 

 

Houston Ship Channel

Jul-26

-$0.460

-$0.465

-1.08%

$0.00

-$0.41

13.13%

-$0.35

30.94%

 

 

Chicago

Jul-26

-$0.426

-$0.433

1.45%

$0.01

-$0.35

21.28%

-$0.45

-4.78%

 

 

Waha

Jul-26

-$4.820

-$5.005

-3.70%

$0.18

-$5.20

-7.23%

-$1.98

143.78%

 

 

Algonquin

Jul-26

$0.125

$0.100

25.00%

$0.02

$0.37

-66.43%

$0.05

128.52%

 

 

Aeco

Jul-26

-$1.850

-$1.860

-0.54%

$0.01

-$1.88

-1.70%

-$1.91

-3.03%

 

 

Socal

Jul-26

-$0.630

-$0.725

-13.10%

$0.10

-$0.92

-31.18%

$0.91

-169.60%

 

 

 

 

 

Natural Gas Liquids

 

 

 

EOX Market Data

 

 

 

Contract

6/8/26

6/5/26

% Change

Change

5/8/26

% Change

6/6/25

% Change

 

 

Mt. Belvieu Propane LST

Jul-26

$0.806

$0.791

1.90%

$0.02

$0.82

-1.68%

$0.68

17.77%

 

 

Mt. Belvieu Propane non LST

Jul-26

$0.793

$0.783

1.28%

$0.01

$0.82

-3.35%

$0.70

13.59%

 

 

Mt. Belview Ethane

Jul-26

$0.228

$0.231

-1.62%

$0.00

$0.21

9.64%

$0.28

-19.35%

 

 

Mt. Belview Nat. Gasoline

Jul-26

$1.725

$1.695

1.77%

$0.03

$1.96

-11.76%

$1.24

38.97%

 

 

Mt. Belvieu Butane LST

Jul-26

$1.023

$1.012

1.05%

$0.01

$1.14

-10.43%

$0.78

31.97%

 

 

Far East Propane

Jul-26

$7.190

$7.110

1.13%

$0.08

$7.01

2.57%

$4.82

49.24%

 

 

Saudi Propane

Jul-26

$6.870

$6.780

1.33%

$0.09

$6.33

8.60%

$4.73

45.36%

 

 

 

 

Crude Oil

 

 

 

EOX Market Data

 

 

 

Contract

6/8/26

6/5/26

% Change

Change

5/8/26

% Change

6/6/25

% Change

 

 

WTI

Jul-26

$91.30

$90.54

0.83%

$0.76

$91.79

-0.53%

$61.38

48.75%

 

 

Brent

Jul-26

$95.28

$94.24

1.10%

$1.05

$101.29

-5.93%

$64.83

46.98%

 

 

WCS

Jul-26

-$12.94

-$13.01

-0.54%

$0.07

-$14.05

-7.91%

-$12.36

4.69%

 

 

LLS

Jul-26

$87.21

$91.04

-4.39%

-$3.83

$88.08

-0.99%

$63.94

36.40%

 

 

Mars

Jul-26

$88.80

$92.67

-4.36%

-$3.87

$88.78

0.02%

$61.66

44.01%

 

 

Sour

Jul-26

$88.68

$92.21

-3.97%

-$3.52

$90.34

-1.84%

$61.41

44.40%

 

 

ESPO

Jul-26

$93.28

$92.24

1.12%

$1.05

$99.29

-6.05%

$62.83

48.47%

 

 

 

 

Refined Products

 

 

 

EOX Market Data

 

 

 

Contract

6/8/26

6/5/26

% Change

Change

5/8/26

% Change

6/6/25

% Change

 

 

NY Heating Oil

Jul-26

$3.76

$3.60

4.36%

$0.16

$3.67

2.23%

$2.06

82.38%

 

 

NY Gasoline

Jul-26

$3.14

$3.04

3.15%

$0.10

$3.33

-5.74%

$1.98

58.22%

 

 

GC Gasoline

Jul-26

$3.00

$2.90

3.31%

$0.10

$3.19

-5.99%

$1.88

59.18%

 

 

GC Jet

Jul-26

$3.32

$3.28

1.31%

$0.04

$3.59

-7.36%

$1.92

73.16%

 

 

Chicago Ethanol

Jul-26

$1.93

$1.94

-0.62%

-$0.01

$1.93

-0.10%

$1.66

15.87%

 

 

Rotterdam Gasoil

Jul-26

$930.34

$907.85

2.48%

$22.49

$979.03

-4.97%

$593.91

56.65%

 

 

Singapore Jet Kero

Jul-26

$140.60

$135.96

3.41%

$4.64

$138.74

1.34%

$78.94

78.12%

 

 

 

 

Implied Volatilities

 

 

 

EOX Market Data

 

 

 

Contract

6/8/26

6/5/26

% Change

Change

5/8/26

% Change

6/6/25

% Change

 

 

Henry Hub Straddle

Jul-26

51.71%

53.40%

-3.17%

-1.69%

47.21%

9.52%

42.22%

22.47%

 

 

Algonquin Straddle

Jul-26

59.61%

73.77%

-19.20%

-14.17%

122.89%

-51.50%

39.95%

49.20%

 

 

Waha Straddle

Jul-26

121.83%

128.37%

-5.09%

-6.54%

204.13%

-40.32%

83.01%

46.77%

 

 

Chicago Straddle

Jul-26

52.63%

54.62%

-3.64%

-1.99%

48.64%

8.20%

42.38%

24.18%

 

 

PJM West Straddle

Jul-26

89.41%

86.76%

3.05%

2.65%

65.57%

36.36%

38.13%

134.49%

 

 

SP – 15 Straddle

Jul-26

134.25%

172.92%

-22.36%

-38.67%

152.00%

-11.68%

95.05%

41.24%

 

 

Mid. C Straddle

Jul-26

39.38%

34.39%

14.51%

4.99%

45.29%

-13.05%

70.86%

-44.43%

 

 

 

 

Euro Gas and Power/LNG

 

 

EOX Market Data

 

 

 

Contract

6/8/26

6/5/26

% Change

Change

5/8/26

% Change

6/6/25

% Change

 

 

Dutch TTF

Jul-26

EUR 50.38

EUR 48.70

3.46%

EUR 1.68

EUR 43.98

14.56%

EUR 33.53

50.26%

 

 

NBP

Jul-26

GBP 121.50

GBP 117.64

3.28%

GBP 3.86

GBP 106.23

14.37%

GBP 81.44

49.19%

 

 

German Base

Jul-26

EUR 103.09

EUR 99.33

3.79%

EUR 3.76

EUR 88.30

16.75%

EUR 79.79

29.21%

 

 

UK Base

Jul-26

GBP 106.49

GBP 101.44

4.98%

GBP 5.05

GBP 90.90

17.16%

GBP 70.29

51.50%

 

 

French Base

Jul-26

EUR 57.87

EUR 54.35

6.48%

EUR 3.52

EUR 36.52

58.46%

EUR 42.81

35.18%

 

 

Italian Base

Jul-26

EUR 150.28

EUR 145.23

3.48%

EUR 5.05

EUR 133.16

12.86%

EUR 104.38

43.97%

 

 

JKM LNG

Jul-26

$19.23

$18.51

3.86%

$0.72

$17.00

13.11%

$11.68

64.58%

 

 

 

 

Freight Forwards (WET & DRY)

 

EOX Market Data

 

 

 

Contract

6/8/26

6/5/26

% Change

Change

5/8/26

% Change

6/6/25

% Change

 

 

TD3C FFA Middle East to China (WET)

Jul-26

$78.55

$92.31

-14.91%

-$13.76

$61.83

27.04%

$9.58

719.94%

 

 

USGC-UK Continent Dirty (WET)

Jul-26

$41.46

$45.17

-8.21%

-$3.71

$53.58

-22.62%

$22.70

82.64%

 

 

TD20 West Africa to UK Continent (WET)

Jul-26

$25.16

$25.54

-1.49%

-$0.38

$29.29

-14.10%

$10.84

132.10%

 

 

LPG FFA Middle East Gulf to East (WET)

Jul-26

$188.43

$215.69

-12.64%

-$27.26

$154.14

22.25%

$54.52

245.62%

 

 

TC5 FFA Arabian Gulf to Japan (WET)

Jul-26

$68.75

$66.49

3.40%

$2.26

$75.90

-9.42%

$25.06

174.34%

 

 

Supramax Timecharter (DRY)

Jul-26

$18,799.70

$21,126.60

-11.01%

-$2,326.90

$18,235.10

3.10%

$10,633.20

76.80%

 

 

Capesize Timecharter (DRY)

Jul-26

$32,228.10

$36,795.40

-12.41%

-$4,567.30

$32,054.70

0.54%

$20,910.20

54.13%

 

 

 

 

AGs and Softs

 

 

 

EOX Market Data

 

 

 

Contract

6/8/26

6/5/26

% Change

Change

5/8/26

% Change

6/6/25

% Change

 

 

Chicago Corn

Jul-26

$4.16

$4.22

-1.44%

-$0.06

$4.72

-11.92%

$4.72

-11.73%

 

 

Chicago Beans

Jul-26

$11.20

$11.24

-0.28%

-$0.03

$12.05

-7.01%

$10.90

2.76%

 

 

London Wheat

Jul-26

GBP 174.75

GBP 175.41

-0.38%

-GBP 0.66

GBP 179.86

-2.84%

GBP 192.07

-9.02%

 

 

London Coffee

Jul-26

$3,327.00

$3,310.00

0.51%

$17.00

$3,422.00

-2.78%

$4,148.15

-19.80%

 

 

New York Coffee

Jul-26

$245.50

$246.65

-0.47%

-$1.15

$274.15

-10.45%

$330.53

-25.72%

 

 

New York Cotton

Jul-26

$73.25

$73.60

-0.48%

-$0.35

$84.70

-13.52%

$71.54

2.39%

 

 

Canada Canola

Jul-26

CAD 760.00

CAD 759.00

0.13%

CAD 1.00

CAD 754.70

0.70%

CAD 714.79

6.33%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

Cooling Degree Days

 

 

 

 

 

 

06/06/2026

Week Tot

Dev Norm

Dev L YR

Cum Tot

CumD Norm

CumD L YR

CumD Norm

CumD L YR

 

 

New England

10

5

-5

39

28

19

NA

NA

 

 

Middle Atlantic

19

4

-1

83

47

52

NA

NA

 

 

E N Central

21

-3

8

71

-1

42

NA

NA

 

 

W N Central

52

22

26

145

45

80

45.00%

123.00%

 

 

South Atlantic

54

-6

-1

500

88

16

21.00%

3.00%

 

 

E S Central

54

1

-3

334

96

32

40.00%

11.00%

 

 

W S Central

98

14

4

716

217

66

43.00%

10.00%

 

 

Mountain

49

11

14

228

51

66

29.00%

41.00%

 

 

Pacific

15

-1

-1

60

-10

21

NA

NA

 

 

United States

40

3

4

253

59

41

30.00%

19.00%

 

 

 

 

Heating Degree Days

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

06/06/2026

Week Tot

Dev Norm

Dev L YR

Cum Tot

CumD Norm

CumD L YR

CumD Norm

CumD L YR

 

 

New England

35

6

8

6,598

28

439

0.00%

7.00%

 

 

Middle Atlantic

17

-3

-7

5,800

-89

460

-2.00%

9.00%

 

 

E N Central

14

-10

-11

6,047

-420

124

-6.00%

2.00%

 

 

W N Central

2

-20

-13

5,859

-860

-274

-13.00%

-4.00%

 

 

South Atlantic

4

0

-2

2,731

-119

138

-4.00%

5.00%

 

 

E S Central

2

-3

-1

3,126

-475

-55

-13.00%

-2.00%

 

 

W S Central

0

-1

0

1,702

-585

-241

-26.00%

-12.00%

 

 

Mountain

13

-17

-9

3,903

-1,249

-827

-24.00%

-17.00%

 

 

Pacific

12

-14

2

2,386

-788

-665

-25.00%

-22.00%

 

 

United States

10

-7

-4

4,041

-458

-73

-10.00%

-2.00%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

 

Weather Forecast & Seasonal Outlook

 

Tropical Outlook

 

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