Morning Report: Gas * Power * NGL * Crude * Products * Vols — Mar-10-2026

Mar 10, 2026

  

 

 

 

 

 

 

 

 

 

Prices as of 7:54 AM CST

 

 

 

 

 

 

 

Current Price

Previous Settle

% Change

Change

Volume

 

 

Natural Gas

$3.069

$3.120

-1.63%

-$0.051

43,892

 

 

WTI

$90.78

$94.77

-4.21%

-$3.99

271,518

 

 

Brent

$93.76

$98.96

-5.25%

-$5.20

43,181

 

 

ULSD

$3.599

$3.587

0.35%

$0.012

15,484

 

 

RBOB

$2.755

$2.808

-1.91%

-$0.054

16,853

 

 

 

 

Spreads

 

 

 

 

 

 

 

Current

Previous

% Change

Change

Contract

 

 

WTI-Brent

$5.90

$7.48

-21.12%

-$1.58

May-26

 

 

3:2:1 Crack

$34.43

$33.07

4.09%

$1.35

Apr-26

 

 

PJM West Spark

$51.78

$54.98

-5.82%

-$3.20

Apr-26

 

 

 

 

Baker Hughes Rig Count

 

 

 

 

 

 

 

Date

Count

Change

1 Year Chg.

1 Year Date

 

 

U.S.

03/06/26

551

1

-41

03/07/25

 

 

Canada

03/06/26

205

-9

-29

03/07/25

 

 

International

Feb-2026

1112

33

15

Feb-2025

 

 

 

 

CFTC Net Positions

 

 

 

 

 

 

As of 3/3/2026

Open Interest

Total Net Long

Total Net Short

Diff

 

 

PJM West On Peak

130,168

129,530

129,674

-144

 

 

PJM West Off Peak

123,322

122,858

122,813

45

 

 

Natural Gas Henry Hub

374,520

358,216

353,185

5,031

 

 

WTI – Light Sweet Crude Futures

188,874

157,281

157,035

246

 

 

Brent Crude Last Day

356,030

347,365

348,768

-1,403

 

 

NYM Ethanol

50,596

49,710

49,776

-66

 

 

Mt Belvieu LDH Propane Swap

137,467

136,624

136,855

-231

 

 

RBOB

415,333

389,730

402,788

-13,058

 

 

HSC Basis

870,511

858,755

865,370

-6,615

 

 

 

 

EIA Short Term Energy Outlook

 

 

 

 

 

 

 

2023

2024

2025 Projected

2026 Projected

 

 

Brent

$82.00

$81.00

$66.00

$59.00

 

 

Gasoline

$3.50

$3.30

$3.10

$3.10

 

 

Crude Oil Production

$12.90

$13.20

$13.40

$13.50

 

 

Natural Gas Spot

$2.50

$2.20

$4.10

$4.80

 

 

LNG Exports

12.00

12.00

15.00

16.00

 

 

 

 

 

 

 

 

 

 

Electrical Generation %

2023

2024

2025 Projected

2026 Projected

 

 

Natural gas

42.00%

42.00%

40.00%

40.00%

 

 

Coal

17.00%

16.00%

16.00%

15.00%

 

 

Renewables

22.00%

23.00%

25.00%

27.00%

 

 

Nuclear

19.00%

19.00%

19.00%

19.00%

 

 

 

 

 

 

 

 

 

 

 

Short Term Energy Outlook

 

Natural Gas Storage

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

EIA Lower 48 Natural Gas Storage

 

 

 

 

03/05/21

 

 

 

2/27/26

2/20/26

Net Change

% Change

2/28/25

% Change

5 Year Avg.

% Change

 

 

East

322

364

-42

-11.54%

340

-5.29%

369

-12.74%

 

 

Midwest

397

441

-44

-9.98%

396

0.25%

458

-13.32%

 

 

Mountain

198

201

-3

-1.49%

166

19.28%

127

56.40%

 

 

Pacific

257

259

-2

-0.77%

199

29.15%

173

48.38%

 

 

South

712

753

-41

-5.44%

658

8.21%

760

-6.29%

 

 

    Salt

169

179

-10

-5.59%

150

12.67%

205

-17.40%

 

 

    Non_Salt

544

573

-29

-5.06%

509

6.88%

555

-2.05%

 

 

Total

1,886

2,018

-132

-6.54%

1,760

7.16%

1,887

-0.06%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Power Generation Additions/Retirements

 

 

  

 

Front Month Prices

 

 

 

 

 

 

 

 

 

 

 

 

 

Electricity

 

 

 

OTCGH/EOXLive Market Data

 

 

 

Contract

3/9/26

3/6/26

% Change

Change

2/6/26

% Change

3/7/25

% Change

 

 

PJM West On Peak

Apr-26

$58.31

$61.66

-5.43%

-$3.35

$60.30

-3.30%

$50.96

14.41%

 

 

ERCOT North On Peak

Apr-26

$29.86

$34.12

-12.50%

-$4.26

$33.60

-11.14%

$41.35

-27.78%

 

 

CAISO SP 15 On Peak

Apr-26

$9.50

$10.13

-6.22%

-$0.63

$12.61

-24.64%

$10.70

-11.20%

 

 

MISO Indiana On Peak

Apr-26

$44.31

$47.39

-6.50%

-$3.08

$48.91

-9.41%

$48.66

-8.94%

 

 

NEISO Mass On Peak

Apr-26

$46.81

$47.64

-1.75%

-$0.84

$50.30

-6.95%

$52.92

-11.55%

 

 

WECC Mid C On Peak

Apr-26

$29.00

$32.30

-10.21%

-$3.30

$32.71

-11.33%

$42.54

-31.83%

 

 

NYISO Zone G On Peak

Apr-26

$48.11

$50.68

-5.07%

-$2.57

$50.31

-4.39%

$49.88

-3.55%

 

 

 

 

 

Natural Gas & Basis

 

 

 

OTCGH/EOXLive Market Data

 

 

 

Contract

3/9/26

3/6/26

% Change

Change

2/6/26

% Change

3/7/25

% Change

 

 

NYMEX Henry Hub

Apr-26

$3.120

$3.186

-2.07%

-$0.07

$3.23

-3.41%

$3.93

-20.57%

 

 

Houston Ship Channel

Apr-26

-$0.395

-$0.416

-5.12%

$0.02

-$0.47

-16.82%

-$0.44

-9.73%

 

 

Chicago

Apr-26

-$0.340

-$0.340

0.00%

$0.00

-$0.22

54.26%

-$0.24

41.31%

 

 

Waha

Apr-26

-$5.075

-$4.825

-5.18%

-$0.25

-$3.83

32.59%

-$3.68

37.97%

 

 

Algonquin

Apr-26

-$0.160

-$0.110

-45.45%

-$0.05

$0.16

-200.44%

$0.54

-129.57%

 

 

Aeco

Apr-26

-$1.690

-$1.790

-5.59%

$0.10

-$1.97

-14.34%

-$1.71

-1.00%

 

 

Socal

Apr-26

-$1.625

-$1.800

-9.72%

$0.17

-$1.53

6.54%

-$0.74

120.94%

 

 

 

 

 

Natural Gas Liquids

 

 

 

OTCGH/EOXLive Market Data

 

 

 

Contract

3/9/26

3/6/26

% Change

Change

2/6/26

% Change

3/7/25

% Change

 

 

Mt. Belvieu Propane LST

Apr-26

$0.740

$0.781

-5.28%

-$0.04

$0.65

13.85%

$0.72

2.66%

 

 

Mt. Belvieu Propane non LST

Apr-26

$0.700

$0.751

-6.82%

-$0.05

$0.64

8.77%

$0.72

-3.07%

 

 

Mt. Belview Ethane

Apr-26

$0.246

$0.246

0.00%

$0.00

$0.25

-0.51%

$0.27

-9.64%

 

 

Mt. Belview Nat. Gasoline

Apr-26

$1.820

$1.720

5.81%

$0.10

$1.27

43.03%

$1.30

40.49%

 

 

Mt. Belvieu Butane LST

Apr-26

$1.044

$1.088

-4.08%

-$0.04

$0.76

37.11%

$0.82

27.87%

 

 

Far East Propane

Apr-26

$7.190

$6.850

4.96%

$0.34

$5.22

37.74%

$5.12

40.33%

 

 

Saudi Propane

Apr-26

$5.870

$5.775

1.65%

$0.09

$5.18

13.40%

$4.96

18.36%

 

 

 

 

Crude Oil

 

 

 

OTCGH/EOXLive Market Data

 

 

 

Contract

3/9/26

3/6/26

% Change

Change

2/6/26

% Change

3/7/25

% Change

 

 

WTI

Apr-26

$94.77

$90.90

4.08%

$3.87

$63.36

49.57%

$63.50

49.24%

 

 

Brent

Apr-26

$101.49

$95.21

6.19%

$6.28

$68.05

49.15%

$67.22

50.99%

 

 

WCS

Apr-26

-$12.32

-$13.44

-9.01%

$1.11

-$15.28

-19.37%

-$13.99

-11.89%

 

 

LLS

Apr-26

$87.15

$83.84

3.80%

$3.31

$64.23

35.68%

$66.44

31.17%

 

 

Mars

Apr-26

$93.80

$81.96

12.62%

$11.84

$62.27

50.62%

$64.12

46.28%

 

 

Sour

Apr-26

$83.25

$81.32

2.31%

$1.92

$63.22

31.69%

$63.47

31.15%

 

 

ESPO

Apr-26

$99.49

$93.21

6.31%

$6.28

$66.05

50.63%

$65.22

52.55%

 

 

 

 

Refined Products

 

 

 

OTCGH/EOXLive Market Data

 

 

 

Contract

3/9/26

3/6/26

% Change

Change

2/6/26

% Change

3/7/25

% Change

 

 

NY Heating Oil

Apr-26

$3.39

$3.61

-6.06%

-$0.22

$2.34

44.94%

$2.14

58.48%

 

 

NY Gasoline

Apr-26

$2.63

$2.75

-4.22%

-$0.12

$2.17

21.46%

$2.04

28.77%

 

 

GC Gasoline

Apr-26

$2.49

$2.61

-4.45%

-$0.12

$2.03

22.94%

$1.94

28.19%

 

 

GC Jet

Apr-26

$3.71

$3.64

1.92%

$0.07

$2.11

75.75%

$2.01

84.58%

 

 

Chicago Ethanol

Apr-26

$1.86

$1.91

-2.77%

-$0.05

$1.66

11.71%

$1.50

24.25%

 

 

Rotterdam Gasoil

Apr-26

$876.50

$839.00

4.47%

$37.50

$642.75

36.37%

$632.91

38.49%

 

 

Singapore Jet Kero

Apr-26

$150.50

$165.20

-8.90%

-$14.70

$84.44

78.22%

$83.37

80.52%

 

 

 

 

Implied Volatilities

 

 

 

OTCGH/EOXLive Market Data

 

 

 

Contract

3/9/26

3/6/26

% Change

Change

2/6/26

% Change

3/7/25

% Change

 

 

Henry Hub Straddle

Apr-26

81.07%

63.55%

27.57%

17.52%

73.52%

10.27%

38.53%

110.41%

 

 

Algonquin Straddle

Apr-26

129.85%

113.67%

14.23%

16.18%

69.61%

86.54%

37.49%

246.36%

 

 

Waha Straddle

Apr-26

988.83%

850.92%

16.21%

137.91%

1702.66%

-41.92%

1139.36%

-13.21%

 

 

Chicago Straddle

Apr-26

83.88%

66.53%

26.08%

17.35%

75.58%

10.98%

40.25%

108.40%

 

 

PJM West Straddle

Apr-26

51.62%

51.60%

0.04%

0.02%

49.91%

3.43%

54.28%

-4.90%

 

 

SP – 15 Straddle

Apr-26

396.03%

385.04%

2.85%

10.99%

568.25%

-30.31%

225.26%

75.81%

 

 

Mid. C Straddle

Apr-26

22.46%

23.28%

-3.52%

-0.82%

23.57%

-4.71%

26.96%

-16.69%

 

 

 

 

Euro Gas and Power/LNG

 

 

OTCGH/EOXLive Market Data

 

 

 

Contract

3/9/26

3/6/26

% Change

Change

2/6/26

% Change

3/7/25

% Change

 

 

Dutch TTF

Apr-26

EUR 55.90

EUR 52.80

5.86%

EUR 3.10

EUR 32.58

71.54%

EUR 32.65

71.22%

 

 

NBP

Apr-26

GBP 142.13

GBP 135.40

4.97%

GBP 6.73

GBP 79.22

79.41%

GBP 85.40

66.43%

 

 

German Base

Apr-26

EUR 97.32

EUR 94.15

3.37%

EUR 3.17

EUR 80.25

21.27%

EUR 72.49

34.25%

 

 

UK Base

Apr-26

GBP 107.56

GBP 107.51

0.04%

GBP 0.05

GBP 71.29

50.88%

GBP 69.79

54.13%

 

 

French Base

Apr-26

EUR 47.89

EUR 48.31

-0.87%

-EUR 0.42

EUR 38.69

23.78%

EUR 44.32

8.05%

 

 

Italian Base

Apr-26

EUR 133.83

EUR 127.96

4.58%

EUR 5.86

EUR 99.70

34.23%

EUR 94.84

41.11%

 

 

JKM LNG

Apr-26

$20.53

$17.30

18.69%

$3.23

$10.75

90.96%

$11.50

78.47%

 

 

 

 

Freight Forwards (WET & DRY)

 

OTCGH/EOXLive Market Data

 

 

 

Contract

3/9/26

3/6/26

% Change

Change

2/6/26

% Change

3/7/25

% Change

 

 

TD3C FFA Middle East to China (WET)

Apr-26

$55.90

$52.80

5.86%

$3.10

$32.58

71.54%

$32.65

71.22%

 

 

USGC-UK Continent Dirty (WET)

Apr-26

$142.13

$135.40

4.97%

$6.73

$79.22

79.41%

$85.40

66.43%

 

 

TD20 West Africa to UK Continent (WET)

Apr-26

$97.32

$94.15

3.37%

$3.17

$80.25

21.27%

$72.49

34.25%

 

 

LPG FFA Middle East Gulf to East (WET)

Apr-26

$107.56

$107.51

0.04%

$0.05

$71.29

50.88%

$69.79

54.13%

 

 

TC5 FFA Arabian Gulf to Japan (WET)

Apr-26

$47.89

$48.31

-0.87%

-$0.42

$38.69

23.78%

$44.32

8.05%

 

 

Supramax Timecharter (DRY)

Apr-26

$133.83

$127.96

4.58%

$5.86

$99.70

34.23%

$94.84

41.11%

 

 

Capesize Timecharter (DRY)

Apr-26

$20.53

$17.30

18.69%

$3.23

$10.75

90.96%

$11.50

78.47%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

Cooling Degree Days

 

 

 

 

 

 

03/07/2026

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

-1

0

0

-1

0

NA

NA

 

 

W N Central

0

-1

0

0

-1

0

NA

NA

 

 

South Atlantic

19

9

12

60

-14

4

NA

NA

 

 

E S Central

11

8

11

14

-1

13

NA

NA

 

 

W S Central

36

27

28

88

49

50

NA

NA

 

 

Mountain

3

2

3

8

3

5

NA

NA

 

 

Pacific

0

-1

0

2

-2

2

NA

NA

 

 

United States

8

5

6

23

3

8

NA

NA

 

 

 

 

Heating Degree Days

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

03/07/2026

Week Tot

Dev Norm

Dev L YR

Cum Tot

CumD Norm

CumD L YR

CumD Norm

CumD L YR

 

 

New England

250

17

22

5,161

160

361

3.00%

8.00%

 

 

Middle Atlantic

204

-10

6

4,648

102

394

2.00%

9.00%

 

 

E N Central

171

-55

-49

4,918

-143

211

-3.00%

4.00%

 

 

W N Central

182

-44

-30

4,740

-649

-257

-12.00%

-5.00%

 

 

South Atlantic

59

-44

-45

2,328

-8

104

0.00%

5.00%

 

 

E S Central

38

-86

-92

2,729

-248

-10

-8.00%

0.00%

 

 

W S Central

14

-62

-39

1,505

-483

-236

-24.00%

-14.00%

 

 

Mountain

125

-34

-31

3,099

-895

-561

-22.00%

-15.00%

 

 

Pacific

79

-22

-45

1,828

-529

-400

-22.00%

-18.00%

 

 

United States

117

-39

-35

3,287

-257

-16

-7.00%

0.00%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

Weather Forecast & Seasonal Outlook

 

 

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