Morning Report: Gas * Power * NGL * Crude * Products * Vols — May-31-2023

May 31, 2023

  

 

 

 

 

 

 

 

 

 

Prices as of 9:49 AM CST

 

 

 

 

 

 

 

Current Price

Previous Settle

% Change

Change

Volume

 

 

Natural Gas

$2.330

$2.327

0.13%

$0.003

60,868

 

 

WTI

$68.89

$69.46

-0.82%

-$0.57

261,833

 

 

Brent

$72.85

$73.54

-0.94%

-$0.69

704

 

 

ULSD

$2.269

$2.281

-0.53%

-$0.012

1,308

 

 

RBOB

$2.587

$2.596

-0.34%

-$0.009

950

 

 

 

 

Spreads

 

 

 

 

 

 

 

Current

Previous

% Change

Change

Contract

 

 

WTI-Brent

$3.54

$4.08

-13.24%

-$0.54

Jul-23

 

 

3:2:1 Crack

$31.79

$31.72

0.22%

$0.07

Jul-23

 

 

PJM West Spark

NA

NA

NA

NA

Jun-23

 

 

 

 

Baker Hughes Rig Count

 

 

 

 

 

 

 

Date

Count

Change

1 Year Chg.

1 Year Date

 

 

U.S.

05/26/23

711

-9

-16

05/27/22

 

 

Canada

05/26/23

87

2

-16

05/27/22

 

 

International

Apr

947

17

141

Apr

 

 

 

 

CFTC Net Positions

 

 

 

 

 

 

As of 5/16/2023

Open Interest

Total Net Long

Total Net Short

Diff

 

 

PJM West On Peak

104,099

103,713

103,848

-135

 

 

PJM West Off Peak

88,593

87,882

88,141

-259

 

 

Natural Gas Henry Hub

452,029

423,773

438,801

-15,028

 

 

WTI – Light Sweet Crude Futures

127,977

95,526

92,624

2,902

 

 

Brent Crude Last Day

142,564

133,882

135,988

-2,106

 

 

NYM Ethanol

35,049

34,616

34,615

1

 

 

Mt Belvieu LDH Propane Swap

146,547

145,395

146,197

-802

 

 

RBOB

306,848

285,236

289,860

-4,624

 

 

HSC Basis

553,444

548,873

544,297

4,576

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

EIA Lower 48 Natural Gas Storage

 

 

 

 

05/25/18

 

 

 

5/19/23

5/12/23

Net Change

% Change

5/20/22

% Change

5 Year Avg.

% Change

 

 

East

489

458

31

6.77%

325

50.46%

385

27.01%

 

 

Midwest

546

520

26

5.00%

391

39.64%

442

23.53%

 

 

Mountain

120

112

8

7.14%

109

10.09%

118

1.52%

 

 

Pacific

139

127

12

9.45%

190

-26.84%

226

-38.44%

 

 

South

1,042

1,023

19

1.86%

797

30.74%

875

19.11%

 

 

    Salt

294

290

4

1.38%

251

17.13%

277

6.29%

 

 

    Non_Salt

748

734

14

1.91%

546

37.00%

598

25.00%

 

 

Total

2,336

2,240

96

4.29%

1,812

28.92%

2,046

14.16%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Power Generation Additions/Retirements

 

 

  

 

Front Month Prices

 

 

 

 

 

 

 

 

 

 

 

 

 

Electricity

 

 

 

EOXLive Market Data

 

 

 

Contract

5/30/23

5/26/23

% Change

Change

5/1/23

% Change

5/27/22

% Change

 

 

PJM West On Peak

Jun-23

$36.99

$38.18

-3.13%

-$1.19

$40.87

-9.49%

$62.56

-40.88%

 

 

ERCOT North On Peak

Jun-23

$43.50

$45.20

-3.75%

-$1.69

$42.35

2.72%

$64.47

-32.52%

 

 

CAISO SP 15 On Peak

Jun-23

$40.37

$43.05

-6.23%

-$2.68

$48.24

-16.31%

$62.12

-35.02%

 

 

MISO Indiana On Peak

Jun-23

$42.57

$43.76

-2.73%

-$1.19

$44.49

-4.33%

$64.61

-34.12%

 

 

NEISO Mass On Peak

Jun-23

$42.90

$39.98

7.31%

$2.92

$49.80

-13.86%

$58.32

-26.45%

 

 

WECC Mid C On Peak

Jun-23

$66.00

$70.26

-6.07%

-$4.26

$52.27

26.28%

$49.45

33.47%

 

 

NYISO Zone G On Peak

Jun-23

$38.04

$36.50

4.23%

$1.54

$45.13

-15.70%

$53.91

-29.44%

 

 

 

 

 

Natural Gas & Basis

 

 

 

EOXLive Market Data

 

 

 

Contract

5/30/23

5/26/23

% Change

Change

5/1/23

% Change

5/27/22

% Change

 

 

NYMEX Henry Hub

Jul-23

$2.313

$2.417

-4.30%

-$0.10

$2.50

-7.41%

$5.07

-54.39%

 

 

Houston Ship Channel

Jul-23

-$0.111

-$0.119

-7.04%

$0.01

-$0.16

-31.78%

-$0.16

-28.53%

 

 

Chicago

Jul-23

-$0.157

-$0.173

10.10%

$0.02

-$0.17

-8.91%

-$0.23

-32.39%

 

 

Waha

Jul-23

-$0.849

-$0.917

-7.39%

$0.07

-$1.18

-27.92%

-$1.95

-56.44%

 

 

Algonquin

Jul-23

$1.611

$1.637

-1.56%

-$0.03

$2.46

-34.62%

-$0.19

-954.19%

 

 

Aeco

Jul-23

-$1.102

-$1.202

-8.30%

$0.10

-$1.34

-17.89%

-$1.40

-21.28%

 

 

Socal

Jul-23

$1.430

$1.635

-12.54%

-$0.21

$1.67

-14.51%

$0.70

104.97%

 

 

 

 

 

Natural Gas Liquids

 

 

 

EOXLive Market Data

 

 

 

Contract

5/30/23

5/26/23

% Change

Change

5/1/23

% Change

5/27/22

% Change

 

 

Mt. Belvieu Propane LST

Jun-23

$0.589

$0.620

-4.95%

-$0.03

$0.71

-16.72%

$1.07

-44.78%

 

 

Mt. Belvieu Propane non LST

Jun-23

$0.589

$0.625

-5.71%

-$0.04

$0.70

-16.26%

$1.07

-44.76%

 

 

Mt. Belview Ethane

Jun-23

$0.195

$0.203

-3.74%

-$0.01

$0.20

-4.13%

$0.38

-48.70%

 

 

Mt. Belview Nat. Gasoline

Jun-23

$1.391

$1.440

-3.37%

-$0.05

$1.46

-5.01%

$1.91

-26.98%

 

 

Mt. Belvieu Butane LST

Jun-23

$0.667

$0.700

-4.76%

-$0.03

$0.80

-16.41%

$1.23

-45.77%

 

 

Conway Propane

Jun-23

$0.571

$0.615

-7.06%

-$0.04

$0.69

-17.75%

$1.05

-45.50%

 

 

Conway Nat. Gasoline

Jun-23

$1.453

$1.473

-1.36%

-$0.02

$1.49

-2.20%

$1.89

-23.34%

 

 

 

 

Crude Oil

 

 

 

EOXLive Market Data

 

 

 

Contract

5/30/23

5/26/23

% Change

Change

5/1/23

% Change

5/27/22

% Change

 

 

WTI

Jul-23

$69.46

$72.67

-4.62%

-$3.21

$75.51

-8.01%

$91.94

-24.45%

 

 

Brent

Jul-23

$73.54

$76.95

-4.64%

-$3.41

$79.31

-7.28%

$96.63

-23.90%

 

 

WCS

Jul-23

-$12.87

-$13.39

-3.99%

$0.51

-$13.82

-6.85%

-$15.75

-18.27%

 

 

LLS

Jul-23

$72.29

$74.53

-3.10%

-$2.24

$77.14

-6.29%

$91.51

-21.00%

 

 

Mars

Jul-23

$69.33

$71.49

-3.11%

-$2.16

$73.39

-5.54%

$89.40

-22.45%

 

 

Sour

Jul-23

$68.55

$71.58

-4.42%

-$3.03

$73.79

-7.11%

$90.49

-24.25%

 

 

ESPO

Jul-23

$73.43

$75.68

-3.07%

-$2.26

$77.77

-5.58%

$92.53

-20.64%

 

 

 

 

Refined Products

 

 

 

EOXLive Market Data

 

 

 

Contract

5/30/23

5/26/23

% Change

Change

5/1/23

% Change

5/27/22

% Change

 

 

NY Heating Oil

Jun-23

$2.28

$2.37

-3.84%

-$0.09

$2.38

-4.32%

$3.09

-26.29%

 

 

NY Gasoline

Jun-23

$2.57

$2.71

-5.31%

-$0.14

$2.55

0.59%

$2.91

-11.76%

 

 

GC Gasoline

Jun-23

$2.47

$2.61

-5.52%

-$0.14

$2.45

0.61%

$2.81

-12.18%

 

 

GC Jet

Jun-23

$2.11

$2.17

-2.99%

-$0.07

$2.18

-3.30%

$2.96

-28.76%

 

 

Chicago Ethanol

Jun-23

$2.44

$2.49

-2.08%

-$0.05

$2.36

3.43%

$2.52

-3.13%

 

 

Rotterdam Gasoil

Jun-23

$627.42

$648.03

-3.18%

-$20.61

$651.18

-3.65%

$847.14

-25.94%

 

 

Singapore Jet Kero

Jun-23

$86.32

$87.92

-1.83%

-$1.60

$91.82

-6.00%

$110.58

-21.95%

 

 

 

 

Implied Volatilities

 

 

 

EOXLive Market Data

 

 

 

Contract

5/30/23

5/26/23

% Change

Change

5/1/23

% Change

5/27/22

% Change

 

 

Henry Hub Straddle

Jul-23

70.68%

67.82%

4.22%

2.86%

63.62%

11.10%

49.38%

43.13%

 

 

Algonquin Straddle

Jul-23

77.13%

82.85%

-6.90%

-5.72%

149.06%

-48.26%

55.39%

39.25%

 

 

Waha Straddle

Jul-23

94.96%

101.13%

-6.10%

-6.17%

114.17%

-16.83%

81.62%

16.34%

 

 

Chicago Straddle

Jul-23

70.63%

67.51%

4.62%

3.12%

67.42%

4.76%

52.30%

35.05%

 

 

PJM West Straddle

Jul-23

80.60%

80.34%

0.32%

0.26%

82.61%

-2.43%

58.75%

37.19%

 

 

SP – 15 Straddle

Jul-23

199.10%

164.77%

20.84%

34.33%

109.41%

81.98%

63.19%

215.08%

 

 

Mid. C Straddle

Jul-23

267.15%

238.78%

11.88%

28.37%

165.43%

61.49%

91.10%

193.25%

 

 

 

 

Euro Gas and Power/LNG

 

 

EOXLive Market Data

 

 

 

Contract

5/30/23

5/26/23

% Change

Change

5/1/23

% Change

5/27/22

% Change

 

 

Dutch TTF

Jul-23

EUR 25.50

EUR 25.25

0.99%

EUR 0.25

EUR 39.73

-35.82%

EUR 71.57

-64.37%

 

 

NBP

Jul-23

GBP 58.50

GBP 56.10

4.28%

GBP 2.40

GBP 90.70

-35.50%

GBP 164.21

-64.37%

 

 

German Base

Jul-23

EUR 77.11

EUR 79.80

-3.37%

-EUR 2.69

EUR 104.16

-25.97%

EUR 196.65

-60.79%

 

 

UK Base

Jul-23

GBP 71.71

GBP 71.04

0.94%

GBP 0.67

GBP 101.93

-29.65%

GBP 171.19

-58.11%

 

 

French Base

Jul-23

EUR 76.10

EUR 77.83

-2.23%

-EUR 1.74

EUR 106.09

-28.27%

EUR 176.73

-56.94%

 

 

Italian Base

Jul-23

EUR 94.94

EUR 98.30

-3.42%

-EUR 3.36

EUR 144.10

-34.11%

EUR 188.35

-49.59%

 

 

JKM LNG

Jul-23

$10.85

$10.61

2.21%

$0.23

$11.35

-4.43%

$21.53

-49.63%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

Cooling Degree Days

 

 

 

 

 

 

05/27/2023

Week Tot

Dev Norm

Dev L YR

Cum Tot

CumD Norm

CumD L YR

CumD Norm

CumD L YR

 

 

New England

0

-2

-15

5

1

-24

NA

NA

 

 

Middle Atlantic

0

-9

-21

14

-3

-16

NA

NA

 

 

E N Central

3

-13

-4

12

-28

-51

NA

NA

 

 

W N Central

17

-4

16

63

5

-12

NA

NA

 

 

South Atlantic

37

-12

-31

392

64

-37

20.00%

-9.00%

 

 

E S Central

33

-7

-17

186

21

-44

13.00%

-19.00%

 

 

W S Central

57

-12

-1

445

63

-105

16.00%

-19.00%

 

 

Mountain

25

-3

-5

95

-30

-45

-24.00%

-33.00%

 

 

Pacific

3

-7

-7

21

-28

-2

NA

NA

 

 

United States

19

-9

-11

152

9

-37

6.00%

-20.00%

 

 

 

 

Heating Degree Days

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

05/27/2023

Week Tot

Dev Norm

Dev L YR

Cum Tot

CumD Norm

CumD L YR

CumD Norm

CumD L YR

 

 

New England

53

7

27

5,649

-876

-259

-13.00%

-4.00%

 

 

Middle Atlantic

38

4

20

5,043

-815

-161

-14.00%

-3.00%

 

 

E N Central

38

-1

-1

5,796

-634

-83

-10.00%

-1.00%

 

 

W N Central

19

-15

-48

6,515

-171

179

-3.00%

3.00%

 

 

South Atlantic

14

6

10

2,424

-419

10

-15.00%

0.00%

 

 

E S Central

10

-1

4

3,090

-503

-41

-14.00%

-1.00%

 

 

W S Central

2

1

-5

2,100

-186

155

-8.00%

8.00%

 

 

Mountain

24

-17

-31

5,441

333

738

7.00%

16.00%

 

 

Pacific

31

-3

10

3,545

410

581

13.00%

20.00%

 

 

United States

25

-1

2

4,155

-318

118

-7.00%

3.00%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

Weather Forecast & Seasonal Outlook

 

Tropical Outlook

 

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