Morning Report: Gas * Power * NGL * Crude * Products * Vols — Mar-02-2023

Mar 2, 2023

  

 

 

 

 

 

 

 

 

 

Prices as of 8:27 AM CST

 

 

 

 

 

 

 

Current Price

Previous Settle

% Change

Change

Volume

 

 

Natural Gas

$2.844

$2.811

1.17%

$0.033

31,505

 

 

WTI

$78.12

$77.69

0.55%

$0.43

94,401

 

 

Brent

$84.66

$83.89

0.92%

$0.77

5,962

 

 

ULSD

$2.900

$2.874

0.91%

$0.026

9,910

 

 

RBOB

$2.685

$2.675

0.38%

$0.010

5,489

 

 

 

 

Spreads

 

 

 

 

 

 

 

Current

Previous

% Change

Change

Contract

 

 

WTI-Brent

$6.41

$6.48

-1.08%

-$0.07

May-23

 

 

3:2:1 Crack

$36.31

$36.14

0.45%

$0.16

Apr-23

 

 

PJM West Spark

$32.86

$32.57

0.89%

$0.29

Apr-23

 

 

 

 

Baker Hughes Rig Count

 

 

 

 

 

 

 

Date

Count

Change

1 Year Chg.

1 Year Date

 

 

U.S.

02/24/23

753

-7

103

02/25/22

 

 

Canada

02/24/23

244

-4

20

02/25/22

 

 

International

Jan

901

1

60

Jan

 

 

 

 

CFTC Net Positions

 

 

 

 

 

 

As of 1/24/2023

Open Interest

Total Net Long

Total Net Short

Diff

 

 

PJM West On Peak

96,035

95,644

95,871

-227

 

 

PJM West Off Peak

87,641

87,239

87,353

-114

 

 

Natural Gas Henry Hub

451,692

429,931

441,012

-11,081

 

 

WTI – Light Sweet Crude Futures

147,592

110,044

113,781

-3,737

 

 

Brent Crude Last Day

160,969

152,193

155,194

-3,001

 

 

NYM Ethanol

25,088

24,363

24,610

-247

 

 

Mt Belvieu LDH Propane Swap

139,408

138,186

138,760

-574

 

 

RBOB

318,554

295,300

304,258

-8,958

 

 

HSC Basis

539,877

535,221

531,339

3,882

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

EIA Lower 48 Natural Gas Storage

 

 

 

 

02/23/18

 

 

 

2/17/23

2/10/23

Net Change

% Change

2/18/22

% Change

5 Year Avg.

% Change

 

 

East

479

498

-19

-3.82%

396

20.96%

408

17.40%

 

 

Midwest

575

601

-26

-4.33%

450

27.78%

466

23.28%

 

 

Mountain

106

114

-8

-7.02%

105

0.95%

103

2.51%

 

 

Pacific

108

122

-14

-11.48%

176

-38.64%

180

-40.07%

 

 

South

926

931

-5

-0.54%

655

41.37%

671

38.00%

 

 

    Salt

262

262

0

0.00%

168

55.95%

189

38.77%

 

 

    Non_Salt

664

670

-6

-0.90%

487

36.34%

483

37.59%

 

 

Total

2,195

2,266

-71

-3.13%

1,782

23.18%

1,829

20.00%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Power Generation Additions/Retirements

 

 

  

 

Front Month Prices

 

 

 

 

 

 

 

 

 

 

 

 

 

Electricity

 

 

 

EOXLive Market Data

 

 

 

Contract

3/1/23

2/28/23

% Change

Change

1/31/23

% Change

3/1/22

% Change

 

 

PJM West On Peak

Apr-23

$38.94

$38.58

0.93%

$0.36

$42.35

-8.03%

$46.83

-16.84%

 

 

ERCOT North On Peak

Apr-23

$37.11

$34.55

7.42%

$2.56

$37.01

0.28%

$40.97

-9.41%

 

 

CAISO SP 15 On Peak

Apr-23

$44.99

$43.50

3.43%

$1.49

$39.86

12.89%

$28.60

57.34%

 

 

MISO Indiana On Peak

Apr-23

$41.74

$41.88

-0.32%

-$0.14

$45.49

-8.23%

$47.36

-11.86%

 

 

NEISO Mass On Peak

Apr-23

$43.91

$41.96

4.64%

$1.95

$45.59

-3.68%

$55.10

-20.31%

 

 

WECC Mid C On Peak

Apr-23

$75.43

$74.46

1.30%

$0.97

$63.84

18.17%

$29.23

158.05%

 

 

NYISO Zone G On Peak

Apr-23

$39.95

$38.59

3.54%

$1.37

$40.31

-0.88%

$44.47

-10.16%

 

 

 

 

 

Natural Gas & Basis

 

 

 

EOXLive Market Data

 

 

 

Contract

3/1/23

2/28/23

% Change

Change

1/31/23

% Change

3/1/22

% Change

 

 

NYMEX Henry Hub

Apr-23

$2.811

$2.747

2.33%

$0.06

$2.74

2.55%

$3.46

-18.71%

 

 

Houston Ship Channel

Apr-23

-$0.317

-$0.334

-5.09%

$0.02

-$0.43

-26.54%

-$0.18

75.46%

 

 

Chicago

Apr-23

$0.004

$0.011

154.55%

-$0.01

$0.01

-66.15%

-$0.20

-102.22%

 

 

Waha

Apr-23

-$1.318

-$1.235

-6.70%

-$0.08

-$1.49

-11.51%

-$2.08

-36.64%

 

 

Algonquin

Apr-23

$0.469

$0.515

-8.92%

-$0.05

$0.65

-27.94%

$0.53

-11.11%

 

 

Aeco

Apr-23

-$0.567

-$0.599

-5.31%

$0.03

-$0.46

23.44%

-$0.89

-36.50%

 

 

Socal

Apr-23

$1.012

$0.744

35.99%

$0.27

$0.32

214.22%

-$0.46

-317.92%

 

 

 

 

 

Natural Gas Liquids

 

 

 

EOXLive Market Data

 

 

 

Contract

3/1/23

2/28/23

% Change

Change

1/31/23

% Change

3/1/22

% Change

 

 

Mt. Belvieu Propane LST

Apr-23

$0.858

$0.834

2.85%

$0.02

$0.88

-2.56%

$1.04

-17.55%

 

 

Mt. Belvieu Propane non LST

Apr-23

$0.842

$0.834

1.01%

$0.01

$0.89

-5.48%

$1.12

-24.60%

 

 

Mt. Belview Ethane

Apr-23

$0.234

$0.232

0.66%

$0.00

$0.24

-2.63%

$0.32

-26.52%

 

 

Mt. Belview Nat. Gasoline

Apr-23

$1.627

$1.643

-0.98%

-$0.02

$1.66

-1.79%

$1.77

-8.21%

 

 

Mt. Belvieu Butane LST

Apr-23

$1.053

$1.062

-0.80%

-$0.01

$1.04

1.37%

$1.22

-13.55%

 

 

Conway Propane

Apr-23

$0.807

$0.799

1.07%

$0.01

$0.85

-5.31%

$1.05

-23.09%

 

 

Conway Nat. Gasoline

Apr-23

$1.678

$1.664

0.82%

$0.01

$1.67

0.37%

$1.72

-2.71%

 

 

 

 

Crude Oil

 

 

 

EOXLive Market Data

 

 

 

Contract

3/1/23

2/28/23

% Change

Change

1/31/23

% Change

3/1/22

% Change

 

 

WTI

Apr-23

$77.05

$77.05

0.00%

$0.00

$79.17

-2.68%

$80.17

-3.89%

 

 

Brent

Apr-23

$83.75

$83.75

0.00%

$0.00

$85.46

-2.00%

$85.58

-2.14%

 

 

WCS

Apr-23

-$16.15

-$15.80

2.17%

-$0.35

-$23.32

-30.73%

-$13.12

23.07%

 

 

LLS

Apr-23

$80.62

$80.43

0.23%

$0.19

$82.29

-2.03%

$81.24

-0.76%

 

 

Mars

Apr-23

$75.61

$75.94

-0.44%

-$0.33

$75.31

0.41%

$77.25

-2.12%

 

 

Sour

Apr-23

$75.90

$75.38

0.68%

$0.52

$74.72

1.58%

$79.22

-4.20%

 

 

ESPO

Apr-23

$81.69

$80.58

1.36%

$1.11

$81.26

0.53%

$81.96

-0.33%

 

 

 

 

Refined Products

 

 

 

EOXLive Market Data

 

 

 

Contract

3/1/23

2/28/23

% Change

Change

1/31/23

% Change

3/1/22

% Change

 

 

NY Heating Oil

Apr-23

$2.87

$2.80

2.47%

$0.07

$3.03

-5.35%

$2.69

6.46%

 

 

NY Gasoline

Apr-23

$2.67

$2.64

1.14%

$0.03

$2.74

-2.59%

$2.58

3.41%

 

 

GC Gasoline

Apr-23

$2.57

$2.54

1.18%

$0.03

$2.64

-2.69%

$2.48

3.55%

 

 

GC Jet

Apr-23

$2.60

$2.56

1.72%

$0.04

$2.74

-5.04%

$2.38

9.42%

 

 

Chicago Ethanol

Apr-23

$2.14

$2.12

0.85%

$0.02

$2.21

-3.04%

$2.20

-2.73%

 

 

Rotterdam Gasoil

Apr-23

$777.26

$765.04

1.60%

$12.22

$815.34

-4.67%

$736.39

5.55%

 

 

Singapore Jet Kero

Apr-23

$107.28

$102.53

4.63%

$4.75

$107.85

-0.53%

$98.35

9.08%

 

 

 

 

Implied Volatilities

 

 

 

EOXLive Market Data

 

 

 

Contract

3/1/23

2/28/23

% Change

Change

1/31/23

% Change

3/1/22

% Change

 

 

Henry Hub Straddle

Apr-23

73.16%

76.12%

-3.89%

-2.96%

82.14%

-10.93%

35.13%

108.26%

 

 

Algonquin Straddle

Apr-23

67.43%

69.42%

-2.87%

-1.99%

83.42%

-19.17%

45.40%

48.52%

 

 

Waha Straddle

Apr-23

163.89%

193.81%

-15.44%

-29.92%

400.06%

-59.03%

87.91%

86.43%

 

 

Chicago Straddle

Apr-23

71.06%

74.74%

-4.92%

-3.68%

83.23%

-14.62%

37.48%

89.59%

 

 

PJM West Straddle

Apr-23

73.37%

76.99%

-4.70%

-3.62%

60.17%

21.94%

42.37%

73.16%

 

 

SP – 15 Straddle

Apr-23

156.82%

81.15%

93.25%

75.67%

48.85%

221.02%

21.50%

629.40%

 

 

Mid. C Straddle

Apr-23

168.91%

165.14%

2.28%

3.77%

123.04%

37.28%

35.64%

373.93%

 

 

 

 

Euro Gas and Power/LNG

 

 

EOXLive Market Data

 

 

 

Contract

3/1/23

2/28/23

% Change

Change

1/31/23

% Change

3/1/22

% Change

 

 

Dutch TTF

Apr-23

EUR 48.35

EUR 46.94

2.99%

EUR 1.40

EUR 59.58

-18.86%

EUR 61.22

-21.03%

 

 

NBP

Apr-23

GBP 121.36

GBP 116.50

4.17%

GBP 4.86

GBP 151.36

-19.82%

GBP 163.42

-25.74%

 

 

German Base

Apr-23

EUR 116.70

EUR 112.39

3.84%

EUR 4.31

EUR 138.00

-15.43%

EUR 123.85

-5.77%

 

 

UK Base

Apr-23

GBP 131.93

GBP 126.83

4.02%

GBP 5.09

GBP 149.87

-11.97%

GBP 116.60

13.15%

 

 

French Base

Apr-23

EUR 131.24

EUR 127.19

3.18%

EUR 4.05

EUR 153.15

-14.30%

EUR 122.06

7.52%

 

 

Italian Base

Apr-23

EUR 138.74

EUR 135.89

2.10%

EUR 2.85

EUR 168.04

-17.43%

EUR 149.87

-7.42%

 

 

JKM LNG

Apr-23

$15.02

$14.40

4.28%

$0.62

$18.29

-17.91%

$25.09

-40.15%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

Cooling Degree Days

 

 

 

 

 

 

02/25/2023

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

19

11

5

72

12

19

NA

NA

 

 

E S Central

8

6

7

10

0

7

NA

NA

 

 

W S Central

16

12

8

36

9

18

NA

NA

 

 

Mountain

0

-1

0

0

-4

0

NA

NA

 

 

Pacific

0

-1

0

0

-3

0

NA

NA

 

 

United States

6

3

2

18

2

6

NA

NA

 

 

 

 

Heating Degree Days

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

02/25/2023

Week Tot

Dev Norm

Dev L YR

Cum Tot

CumD Norm

CumD L YR

CumD Norm

CumD L YR

 

 

New England

238

-16

4

3,935

-729

-261

-16.00%

-6.00%

 

 

Middle Atlantic

194

-41

-15

3,585

-651

-142

-15.00%

-4.00%

 

 

E N Central

210

-40

-42

4,194

-539

-75

-11.00%

-2.00%

 

 

W N Central

278

27

-40

4,821

-240

225

-5.00%

5.00%

 

 

South Atlantic

58

-59

-22

1,854

-332

-1

-15.00%

0.00%

 

 

E S Central

69

-74

-55

2,392

-404

-29

-14.00%

-1.00%

 

 

W S Central

51

-40

-72

1,726

-150

208

-8.00%

14.00%

 

 

Mountain

214

41

-15

3,918

154

551

4.00%

16.00%

 

 

Pacific

158

53

8

2,369

157

300

7.00%

14.00%

 

 

United States

151

-21

-26

3,017

-301

74

-9.00%

2.00%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gas * Power * NGL * Crude * Products * Vol Charts

 

 

 

 

 

Weather Forecast & Seasonal Outlook

 

 

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