Prices as of 6:57 AM CST

 

 

 

 

 

 

 

Current Price

Previous Settle

% Change

Change

Volume

 

 

Natural Gas

$3.396

$3.343

1.59%

$0.053

532

 

 

WTI

$69.82

$71.92

-2.92%

-$2.10

53,265

 

 

Brent

$72.87

$75.26

-3.18%

-$2.39

3,166

 

 

ULSD

$3.223

$3.298

-2.27%

-$0.075

1,182

 

 

RBOB

$2.963

$3.027

-2.13%

-$0.064

1,791

 

 

 

 

Spreads

 

 

 

 

 

 

 

Current

Previous

% Change

Change

Contract

 

 

WTI-Brent

$3.02

$3.34

-9.58%

-$0.32

Aug-26

 

 

3:2:1 Crack

$53.68

$54.28

-1.10%

-$0.59

Aug-26

 

 

PJM West Spark

$121.56

$108.64

11.89%

$12.92

Jul-26

 

 

 

 

Baker Hughes Rig Count

 

 

 

 

 

 

 

Date

Count

Change

1 Year Chg.

1 Year Date

 

 

U.S.

06/18/26

563

1

9

06/20/25

 

 

Canada

06/18/26

186

6

47

06/20/25

 

 

International

May-2026

1046

-3

-25

May-2025

 

 

 

 

CFTC Net Positions

 

 

 

 

 

 

As of 6/16/2026

Open Interest

Total Net Long

Total Net Short

Diff

 

 

PJM West On Peak

127,731

127,211

127,365

-154

 

 

PJM West Off Peak

120,851

120,432

120,436

-4

 

 

Natural Gas Henry Hub

392,009

376,278

375,235

1,043

 

 

WTI – Light Sweet Crude Futures

642,267

551,475

509,583

41,892

 

 

Brent Crude Last Day

346,985

335,109

340,196

-5,087

 

 

NYM Ethanol

51,059

50,407

50,354

53

 

 

Mt Belvieu LDH Propane Swap

103,738

103,063

102,985

78

 

 

RBOB

312,650

287,654

297,858

-10,204

 

 

HSC Basis

937,662

927,661

926,368

1,293

 

 

 

 

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

 

 

 

 

06/25/21

 

 

 

6/19/26

6/12/26

Net Change

% Change

6/20/25

% Change

5 Year Avg.

% Change

 

 

East

558

532

26

4.89%

589

-5.26%

566

-1.48%

 

 

Midwest

672

638

34

5.33%

665

1.05%

652

3.04%

 

 

Mountain

227

226

1

0.44%

223

1.79%

186

21.78%

 

 

Pacific

312

309

3

0.97%

281

11.03%

249

25.10%

 

 

South

1,066

1,053

13

1.23%

1,140

-6.49%

1,068

-0.15%

 

 

    Salt

325

325

0

0.00%

352

-7.67%

311

4.57%

 

 

    Non_Salt

741

728

13

1.79%

788

-5.96%

757

-2.09%

 

 

Total

2,835

2,759

76

2.75%

2,898

-2.17%

2,722

4.16%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Power Generation Additions/Retirements

 

 

  

 

Front Month Prices

 

 

 

 

 

 

 

 

 

 

 

 

 

Electricity

 

 

 

EOX Market Data

 

 

 

Contract

6/25/26

6/24/26

% Change

Change

5/27/26

% Change

6/25/25

% Change

 

 

PJM West On Peak

Jul-26

$128.82

$115.79

11.25%

$13.03

$90.52

42.32%

$86.92

48.21%

 

 

ERCOT North On Peak

Jul-26

$57.63

$56.92

1.25%

$0.71

$56.27

2.42%

$91.88

-37.27%

 

 

CAISO SP 15 On Peak

Jul-26

$33.01

$32.34

2.08%

$0.67

$33.61

-1.79%

$60.91

-45.80%

 

 

MISO Indiana On Peak

Jul-26

$92.30

$84.24

9.58%

$8.07

$73.09

26.29%

$79.11

16.68%

 

 

NEISO Mass On Peak

Jul-26

$87.18

$84.42

3.27%

$2.76

$86.61

0.66%

$84.18

3.57%

 

 

WECC Mid C On Peak

Jul-26

$38.00

$38.75

-1.94%

-$0.75

$47.00

-19.15%

$85.97

-55.80%

 

 

NYISO Zone G On Peak

Jul-26

$86.56

$83.21

4.03%

$3.35

$87.59

-1.18%

$82.12

5.40%

 

 

 

 

 

Natural Gas & Basis

 

 

 

EOX Market Data

 

 

 

Contract

6/25/26

6/24/26

% Change

Change

5/27/26

% Change

6/25/25

% Change

 

 

NYMEX Henry Hub

Jul-26

$3.343

$3.221

3.79%

$0.12

$3.10

8.01%

$4.26

-21.45%

 

 

Houston Ship Channel

Jul-26

-$0.404

-$0.400

0.95%

$0.00

-$0.50

-18.42%

-$0.34

17.08%

 

 

Chicago

Jul-26

-$0.417

-$0.412

-1.20%

$0.00

-$0.41

1.21%

-$0.44

-5.95%

 

 

Waha

Jul-26

-$2.490

-$2.585

-3.68%

$0.10

-$4.91

-49.31%

-$1.98

25.80%

 

 

Algonquin

Jul-26

-$0.285

-$0.290

1.72%

$0.00

$0.16

-272.94%

$0.11

-352.21%

 

 

Aeco

Jul-26

-$2.040

-$1.997

2.13%

-$0.04

-$1.77

15.52%

-$1.85

10.07%

 

 

Socal

Jul-26

-$0.475

-$0.482

-1.55%

$0.01

-$0.75

-36.36%

$0.73

-165.33%

 

 

 

 

 

Natural Gas Liquids

 

 

 

EOX Market Data

 

 

 

Contract

6/25/26

6/24/26

% Change

Change

5/27/26

% Change

6/25/25

% Change

 

 

Mt. Belvieu Propane LST

Jul-26

$0.723

$0.700

3.21%

$0.02

$0.81

-10.25%

$0.70

3.52%

 

 

Mt. Belvieu Propane non LST

Jul-26

$0.695

$0.679

2.39%

$0.02

$0.79

-12.30%

$0.68

2.02%

 

 

Mt. Belview Ethane

Jul-26

$0.231

$0.231

0.00%

$0.00

$0.21

10.78%

$0.28

-17.65%

 

 

Mt. Belview Nat. Gasoline

Jul-26

$1.555

$1.483

4.89%

$0.07

$1.77

-11.90%

$1.23

26.59%

 

 

Mt. Belvieu Butane LST

Jul-26

$0.852

$0.831

2.54%

$0.02

$1.04

-18.32%

$0.78

9.65%

 

 

Far East Propane

Jul-26

$5.590

$5.420

3.14%

$0.17

$6.90

-18.99%

$4.95

12.94%

 

 

Saudi Propane

Jul-26

$5.750

$5.706

0.77%

$0.04

$6.67

-13.79%

$4.84

18.73%

 

 

 

 

Crude Oil

 

 

 

EOX Market Data

 

 

 

Contract

6/25/26

6/24/26

% Change

Change

5/27/26

% Change

6/25/25

% Change

 

 

WTI

Aug-26

$71.92

$70.34

2.20%

$1.58

$85.99

-16.36%

$61.13

17.65%

 

 

Brent

Aug-26

$75.26

$73.74

2.02%

$1.52

$92.25

-18.42%

$64.66

16.39%

 

 

WCS

Aug-26

-$14.19

-$13.01

8.30%

-$1.18

-$13.45

5.49%

-$11.60

22.26%

 

 

LLS

Aug-26

$72.47

$73.19

-0.99%

-$0.71

$86.49

-16.20%

$64.07

13.11%

 

 

Mars

Aug-26

$70.89

$72.59

-2.39%

-$1.70

$87.46

-18.94%

$62.02

14.31%

 

 

Sour

Aug-26

$71.62

$72.53

-1.27%

-$0.91

$87.90

-18.53%

$61.63

16.20%

 

 

ESPO

Aug-26

$73.26

$71.74

2.07%

$1.52

$90.25

-18.83%

$62.66

16.92%

 

 

 

 

Refined Products

 

 

 

EOX Market Data

 

 

 

Contract

6/25/26

6/24/26

% Change

Change

5/27/26

% Change

6/25/25

% Change

 

 

NY Heating Oil

Jul-26

$3.29

$3.16

4.21%

$0.13

$3.54

-6.96%

$2.15

53.00%

 

 

NY Gasoline

Jul-26

$2.90

$2.87

1.08%

$0.03

$2.97

-2.36%

$2.02

43.68%

 

 

GC Gasoline

Jul-26

$2.76

$2.73

1.14%

$0.03

$2.83

-2.48%

$1.88

46.94%

 

 

GC Jet

Jul-26

$2.78

$2.37

17.22%

$0.41

$3.20

-13.32%

$1.96

41.45%

 

 

Chicago Ethanol

Jul-26

$1.87

$1.83

1.91%

$0.03

$2.02

-7.44%

$1.61

15.77%

 

 

Rotterdam Gasoil

Jul-26

$829.42

$822.84

0.80%

$6.58

$925.75

-10.41%

$608.21

36.37%

 

 

Singapore Jet Kero

Jul-26

$113.00

$110.89

1.90%

$2.11

$133.32

-15.24%

$82.26

37.38%

 

 

 

 

Implied Volatilities

 

 

 

EOX Market Data

 

 

 

Contract

6/25/26

6/24/26

% Change

Change

5/27/26

% Change

6/25/25

% Change

 

 

Henry Hub Straddle

Aug-26

48.79%

47.09%

3.62%

1.71%

47.42%

2.90%

40.55%

20.33%

 

 

Algonquin Straddle

Aug-26

58.74%

56.65%

3.68%

2.09%

56.24%

4.43%

38.49%

52.60%

 

 

Waha Straddle

Aug-26

765.67%

773.74%

-1.04%

-8.06%

199.61%

283.59%

65.82%

1063.28%

 

 

Chicago Straddle

Aug-26

50.51%

48.97%

3.13%

1.53%

47.94%

5.36%

40.43%

24.92%

 

 

PJM West Straddle

Aug-26

71.40%

67.09%

6.42%

4.31%

64.76%

10.25%

42.03%

69.88%

 

 

SP – 15 Straddle

Aug-26

173.84%

174.38%

-0.31%

-0.54%

146.31%

18.82%

142.56%

21.94%

 

 

Mid. C Straddle

Aug-26

42.81%

42.14%

1.59%

0.67%

52.71%

-18.78%

106.71%

-59.88%

 

 

 

 

Euro Gas and Power/LNG

 

 

EOX Market Data

 

 

 

Contract

6/25/26

6/24/26

% Change

Change

5/27/26

% Change

6/25/25

% Change

 

 

Dutch TTF

Aug-26

EUR 40.96

EUR 41.00

-0.11%

-EUR 0.04

EUR 46.26

-11.48%

EUR 33.70

21.54%

 

 

NBP

Aug-26

GBP 97.81

GBP 97.41

0.41%

GBP 0.40

GBP 111.89

-12.58%

GBP 83.62

16.97%

 

 

German Base

Aug-26

EUR 98.26

EUR 98.59

-0.33%

-EUR 0.33

EUR 95.40

3.00%

EUR 81.26

20.92%

 

 

UK Base

Aug-26

GBP 88.01

GBP 89.70

-1.88%

-GBP 1.69

GBP 96.32

-8.62%

GBP 69.33

26.95%

 

 

French Base

Aug-26

EUR 52.27

EUR 50.00

4.53%

EUR 2.27

EUR 46.30

12.90%

EUR 49.49

5.60%

 

 

Italian Base

Aug-26

EUR 127.11

EUR 129.63

-1.94%

-EUR 2.52

EUR 135.57

-6.24%

EUR 107.27

18.50%

 

 

JKM LNG

Aug-26

$15.10

$15.29

-1.29%

-$0.20

$17.89

-15.64%

$11.95

26.33%

 

 

 

 

Freight Forwards (WET & DRY)

 

EOX Market Data

 

 

 

Contract

6/25/26

6/24/26

% Change

Change

5/27/26

% Change

6/25/25

% Change

 

 

TD3C FFA Middle East to China (WET)

Aug-26

$45.47

$49.51

-8.16%

-$4.04

$47.68

-4.64%

$11.06

311.12%

 

 

USGC-UK Continent Dirty (WET)

Aug-26

$42.02

$43.70

-3.84%

-$1.68

$40.62

3.45%

$22.30

88.43%

 

 

TD20 West Africa to UK Continent (WET)

Aug-26

$29.95

$31.46

-4.80%

-$1.51

$21.80

37.39%

$10.68

180.43%

 

 

LPG FFA Middle East Gulf to East (WET)

Aug-26

$123.00

$126.00

-2.38%

-$3.00

$145.07

-15.21%

$53.11

131.59%

 

 

TC5 FFA Arabian Gulf to Japan (WET)

Aug-26

$68.75

$73.30

-6.21%

-$4.55

$59.25

16.03%

$26.69

157.59%

 

 

Supramax Timecharter (DRY)

Aug-26

$16,960.00

$17,555.00

-3.39%

-$595.00

$16,977.90

-0.11%

$10,421.20

62.75%

 

 

Capesize Timecharter (DRY)

Aug-26

$29,467.30

$29,978.50

-1.71%

-$511.20

$30,555.40

-3.56%

$20,784.00

41.78%

 

 

 

 

AGs and Softs

 

 

 

EOX Market Data

 

 

 

Contract

6/25/26

6/24/26

% Change

Change

5/27/26

% Change

6/25/25

% Change

 

 

Chicago Corn

Aug-26

$4.13

$4.08

1.18%

$0.05

$4.58

-10.01%

$4.61

-10.56%

 

 

Chicago Beans

Aug-26

$11.21

$11.09

1.09%

$0.12

$11.63

-3.64%

$10.83

3.47%

 

 

London Wheat

Aug-26

GBP 175.32

GBP 177.10

-1.01%

-GBP 1.79

GBP 187.02

-6.26%

GBP 195.34

-10.25%

 

 

London Coffee

Aug-26

$3,708.62

$3,681.92

0.73%

$26.70

$3,417.03

8.53%

$3,385.79

9.53%

 

 

New York Coffee

Aug-26

$276.85

$285.85

-3.15%

-$9.00

$267.09

3.65%

$275.89

0.35%

 

 

New York Cotton

Aug-26

$73.77

$73.11

0.91%

$0.66

$76.92

-4.10%

$70.83

4.15%

 

 

Canada Canola

Aug-26

CAD 737.50

CAD 735.87

0.22%

CAD 1.63

CAD 759.36

-2.88%

CAD 726.22

1.55%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

Cooling Degree Days

 

 

 

 

 

 

06/20/2026

Week Tot

Dev Norm

Dev L YR

Cum Tot

CumD Norm

CumD L YR

CumD Norm

CumD L YR

 

 

New England

20

5

0

105

70

55

NA

NA

 

 

Middle Atlantic

30

1

2

172

86

87

NA

NA

 

 

E N Central

7

-29

-39

143

6

48

4.00%

51.00%

 

 

W N Central

28

-19

-30

238

53

84

29.00%

55.00%

 

 

South Atlantic

88

11

-4

685

128

22

23.00%

3.00%

 

 

E S Central

67

-5

-17

493

121

40

33.00%

9.00%

 

 

W S Central

106

2

-9

941

244

76

35.00%

9.00%

 

 

Mountain

71

15

-8

357

77

53

28.00%

17.00%

 

 

Pacific

32

8

2

120

8

23

7.00%

24.00%

 

 

United States

50

-1

-11

374

85

51

29.00%

16.00%

 

 

 

 

Heating Degree Days

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

06/20/2026

Week Tot

Dev Norm

Dev L YR

Cum Tot

CumD Norm

CumD L YR

CumD Norm

CumD L YR

 

 

New England

7

-5

-11

6,609

7

416

0.00%

7.00%

 

 

Middle Atlantic

6

-1

-4

5,807

-101

453

-2.00%

8.00%

 

 

E N Central

20

11

18

6,067

-425

130

-7.00%

2.00%

 

 

W N Central

18

9

14

5,879

-864

-271

-13.00%

-4.00%

 

 

South Atlantic

0

-1

0

2,731

-122

138

-4.00%

5.00%

 

 

E S Central

1

1

1

3,127

-477

-54

-13.00%

-2.00%

 

 

W S Central

0

0

0

1,702

-585

-241

-26.00%

-12.00%

 

 

Mountain

6

-11

3

3,921

-1,271

-816

-24.00%

-17.00%

 

 

Pacific

1

-15

-10

2,401

-811

-666

-25.00%

-22.00%

 

 

United States

6

-1

1

4,051

-468

-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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