Morning Report: Gas * Power * NGL * Crude * Products * Vols — Mar-03-2023

Mar 3, 2023

  

 

 

 

 

 

 

 

 

 

Prices as of 8:26 AM CST

 

 

 

 

 

 

 

Current Price

Previous Settle

% Change

Change

Volume

 

 

Natural Gas

$2.845

$2.765

2.89%

$0.080

24,577

 

 

WTI

$76.41

$78.16

-2.24%

-$1.75

116,296

 

 

Brent

$82.95

$84.75

-2.12%

-$1.80

9,271

 

 

ULSD

$2.824

$2.866

-1.48%

-$0.042

6,555

 

 

RBOB

$2.638

$2.700

-2.29%

-$0.062

6,942

 

 

 

 

Spreads

 

 

 

 

 

 

 

Current

Previous

% Change

Change

Contract

 

 

WTI-Brent

$6.36

$6.44

-1.24%

-$0.08

May-23

 

 

3:2:1 Crack

$35.99

$36.33

-0.92%

-$0.33

Apr-23

 

 

PJM West Spark

$33.80

$33.03

2.35%

$0.78

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

Feb

915

14

102

Feb

 

 

 

 

CFTC Net Positions

 

 

 

 

 

 

As of 1/31/2023

Open Interest

Total Net Long

Total Net Short

Diff

 

 

PJM West On Peak

96,478

95,976

96,327

-351

 

 

PJM West Off Peak

87,750

87,297

87,608

-311

 

 

Natural Gas Henry Hub

436,516

415,851

425,855

-10,004

 

 

WTI – Light Sweet Crude Futures

154,980

120,158

125,414

-5,256

 

 

Brent Crude Last Day

163,764

155,271

159,264

-3,993

 

 

NYM Ethanol

28,226

27,403

27,641

-238

 

 

Mt Belvieu LDH Propane Swap

148,068

146,228

147,180

-952

 

 

RBOB

314,963

293,477

303,106

-9,629

 

 

HSC Basis

558,418

552,342

549,508

2,834

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

EIA Lower 48 Natural Gas Storage

 

 

 

 

03/02/18

 

 

 

2/24/23

2/17/23

Net Change

% Change

2/25/22

% Change

5 Year Avg.

% Change

 

 

East

451

479

-28

-5.85%

358

25.98%

372

21.11%

 

 

Midwest

544

575

-31

-5.39%

404

34.65%

429

26.81%

 

 

Mountain

99

106

-7

-6.60%

96

3.13%

97

2.27%

 

 

Pacific

99

108

-9

-8.33%

164

-39.63%

172

-42.44%

 

 

South

922

926

-4

-0.43%

620

48.71%

649

42.15%

 

 

    Salt

261

262

-1

-0.38%

163

60.12%

184

41.85%

 

 

    Non_Salt

661

664

-3

-0.45%

457

44.64%

465

42.27%

 

 

Total

2,114

2,195

-81

-3.69%

1,643

28.67%

1,719

22.99%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Power Generation Additions/Retirements

 

 

  

 

Front Month Prices

 

 

 

 

 

 

 

 

 

 

 

 

 

Electricity

 

 

 

EOXLive Market Data

 

 

 

Contract

3/2/23

3/1/23

% Change

Change

2/1/23

% Change

3/2/22

% Change

 

 

PJM West On Peak

Apr-23

$39.89

$38.94

2.44%

$0.95

$39.77

0.31%

$47.89

-16.69%

 

 

ERCOT North On Peak

Apr-23

$37.83

$37.11

1.92%

$0.71

$35.44

6.73%

$40.51

-6.63%

 

 

CAISO SP 15 On Peak

Apr-23

$46.45

$44.99

3.25%

$1.46

$37.15

25.03%

$28.60

62.41%

 

 

MISO Indiana On Peak

Apr-23

$42.79

$41.74

2.50%

$1.04

$42.70

0.22%

$48.60

-11.96%

 

 

NEISO Mass On Peak

Apr-23

$44.09

$43.91

0.41%

$0.18

$43.56

1.22%

$51.91

-15.07%

 

 

WECC Mid C On Peak

Apr-23

$72.71

$75.43

-3.62%

-$2.73

$63.35

14.77%

$31.47

131.01%

 

 

NYISO Zone G On Peak

Apr-23

$40.10

$39.95

0.36%

$0.14

$38.59

3.90%

$45.44

-11.76%

 

 

 

 

 

Natural Gas & Basis

 

 

 

EOXLive Market Data

 

 

 

Contract

3/2/23

3/1/23

% Change

Change

2/1/23

% Change

3/2/22

% Change

 

 

NYMEX Henry Hub

Apr-23

$2.765

$2.811

-1.64%

-$0.05

$2.54

9.03%

$3.53

-21.56%

 

 

Houston Ship Channel

Apr-23

-$0.268

-$0.317

-15.28%

$0.05

-$0.42

-36.39%

-$0.18

52.53%

 

 

Chicago

Apr-23

$0.036

$0.004

-87.95%

$0.03

-$0.01

-444.34%

-$0.20

-118.35%

 

 

Waha

Apr-23

-$1.332

-$1.318

-1.06%

-$0.01

-$1.47

-9.42%

-$2.11

-36.90%

 

 

Algonquin

Apr-23

$0.522

$0.469

11.31%

$0.05

$0.56

-6.10%

$0.54

-3.10%

 

 

Aeco

Apr-23

-$0.562

-$0.567

-0.83%

$0.00

-$0.45

23.63%

-$0.87

-35.32%

 

 

Socal

Apr-23

$0.985

$1.012

-2.64%

-$0.03

$0.23

326.45%

-$0.46

-312.76%

 

 

 

 

 

Natural Gas Liquids

 

 

 

EOXLive Market Data

 

 

 

Contract

3/2/23

3/1/23

% Change

Change

2/1/23

% Change

3/2/22

% Change

 

 

Mt. Belvieu Propane LST

Apr-23

$0.890

$0.858

3.78%

$0.03

$0.85

4.54%

$1.05

-15.30%

 

 

Mt. Belvieu Propane non LST

Apr-23

$0.884

$0.842

4.93%

$0.04

$0.87

1.87%

$1.03

-14.61%

 

 

Mt. Belview Ethane

Apr-23

$0.246

$0.234

5.41%

$0.01

$0.22

9.52%

$0.32

-23.12%

 

 

Mt. Belview Nat. Gasoline

Apr-23

$1.644

$1.627

1.07%

$0.02

$1.66

-0.67%

$1.76

-6.59%

 

 

Mt. Belvieu Butane LST

Apr-23

$1.034

$1.053

-1.83%

-$0.02

$1.05

-1.06%

$1.21

-14.45%

 

 

Conway Propane

Apr-23

$0.835

$0.807

3.44%

$0.03

$0.84

0.00%

$1.05

-20.59%

 

 

Conway Nat. Gasoline

Apr-23

$1.671

$1.678

-0.42%

-$0.01

$1.68

-0.59%

$1.73

-3.39%

 

 

 

 

Crude Oil

 

 

 

EOXLive Market Data

 

 

 

Contract

3/2/23

3/1/23

% Change

Change

2/1/23

% Change

3/2/22

% Change

 

 

WTI

Apr-23

$78.16

$77.69

0.60%

$0.47

$76.73

1.86%

$83.78

-6.71%

 

 

Brent

Apr-23

$85.07

$83.89

1.38%

$1.18

$82.84

2.69%

$89.45

-4.90%

 

 

WCS

Apr-23

-$15.40

-$16.15

-4.88%

$0.75

-$21.06

-26.87%

-$13.62

13.03%

 

 

LLS

Apr-23

$80.76

$80.62

0.17%

$0.14

$79.79

1.22%

$83.51

-3.29%

 

 

Mars

Apr-23

$76.85

$75.61

1.61%

$1.24

$73.98

3.88%

$84.22

-8.76%

 

 

Sour

Apr-23

$77.25

$75.90

1.75%

$1.35

$73.75

4.75%

$84.90

-9.01%

 

 

ESPO

Apr-23

$82.77

$81.69

1.31%

$1.08

$80.07

3.38%

$84.09

-1.56%

 

 

 

 

Refined Products

 

 

 

EOXLive Market Data

 

 

 

Contract

3/2/23

3/1/23

% Change

Change

2/1/23

% Change

3/2/22

% Change

 

 

NY Heating Oil

Apr-23

$2.87

$2.87

-0.03%

$0.00

$2.90

-1.00%

$2.72

5.33%

 

 

NY Gasoline

Apr-23

$2.70

$2.67

1.13%

$0.03

$2.64

2.01%

$2.63

2.35%

 

 

GC Gasoline

Apr-23

$2.60

$2.57

1.17%

$0.03

$2.54

2.08%

$2.53

2.45%

 

 

GC Jet

Apr-23

$2.77

$2.60

6.34%

$0.16

$2.60

6.47%

$2.50

10.55%

 

 

Chicago Ethanol

Apr-23

$2.15

$2.14

0.70%

$0.01

$2.18

-1.28%

$2.41

-10.62%

 

 

Rotterdam Gasoil

Apr-23

$791.29

$777.26

1.80%

$14.03

$777.91

1.72%

$742.92

6.51%

 

 

Singapore Jet Kero

Apr-23

$104.69

$107.28

-2.41%

-$2.59

$110.03

-4.85%

$99.23

5.51%

 

 

 

 

Implied Volatilities

 

 

 

EOXLive Market Data

 

 

 

Contract

3/2/23

3/1/23

% Change

Change

2/1/23

% Change

3/2/22

% Change

 

 

Henry Hub Straddle

Apr-23

77.16%

73.16%

5.47%

4.00%

87.58%

-11.90%

37.26%

107.09%

 

 

Algonquin Straddle

Apr-23

80.82%

67.43%

19.86%

13.39%

100.85%

-19.86%

47.50%

70.15%

 

 

Waha Straddle

Apr-23

182.71%

163.89%

11.48%

18.82%

429.95%

-57.50%

86.79%

110.52%

 

 

Chicago Straddle

Apr-23

75.74%

71.06%

6.59%

4.68%

92.21%

-17.86%

39.61%

91.21%

 

 

PJM West Straddle

Apr-23

72.65%

73.37%

-0.98%

-0.72%

61.98%

17.22%

41.73%

74.10%

 

 

SP – 15 Straddle

Apr-23

58.02%

156.82%

-63.00%

-98.80%

41.90%

38.47%

21.76%

166.64%

 

 

Mid. C Straddle

Apr-23

175.80%

168.91%

4.08%

6.89%

128.00%

37.34%

33.74%

421.04%

 

 

 

 

Euro Gas and Power/LNG

 

 

EOXLive Market Data

 

 

 

Contract

3/2/23

3/1/23

% Change

Change

2/1/23

% Change

3/2/22

% Change

 

 

Dutch TTF

Apr-23

EUR 46.85

EUR 48.35

-3.10%

-EUR 1.50

EUR 59.35

-21.06%

EUR 69.87

-32.95%

 

 

NBP

Apr-23

GBP 117.75

GBP 121.36

-2.97%

-GBP 3.61

GBP 152.00

-22.53%

GBP 180.71

-34.84%

 

 

German Base

Apr-23

EUR 116.75

EUR 116.70

0.04%

EUR 0.05

EUR 139.62

-16.38%

EUR 130.62

-10.62%

 

 

UK Base

Apr-23

GBP 126.43

GBP 131.93

-4.17%

-GBP 5.50

GBP 146.87

-13.92%

GBP 174.30

-27.47%

 

 

French Base

Apr-23

EUR 129.13

EUR 131.24

-1.61%

-EUR 2.11

EUR 154.88

-16.63%

EUR 122.98

4.99%

 

 

Italian Base

Apr-23

EUR 140.86

EUR 138.74

1.52%

EUR 2.11

EUR 162.96

-13.56%

EUR 148.35

-5.05%

 

 

JKM LNG

Apr-23

$14.46

$15.02

-3.73%

-$0.56

$18.50

-21.86%

$28.22

-48.77%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

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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