Morning Report: Gas * Power * NGL * Crude * Products * Vols — Nov-02-2022

Nov 2, 2022

  

 

 

 

 

 

 

 

 

 

Prices as of 9:24 AM CST

 

 

 

 

 

 

 

Current Price

Previous Settle

% Change

Change

Volume

 

 

Natural Gas

$6.109

$5.714

6.91%

$0.395

40,851

 

 

WTI

$88.06

$88.37

-0.35%

-$0.31

109,652

 

 

Brent

$94.35

$94.80

-0.47%

-$0.45

10,118

 

 

ULSD

$3.574

$3.621

-1.30%

-$0.047

12,380

 

 

RBOB

$2.608

$2.595

0.50%

$0.013

11,776

 

 

 

 

Spreads

 

 

 

 

 

 

 

Current

Previous

% Change

Change

Contract

 

 

WTI-Brent

$7.45

$7.46

-0.13%

-$0.01

Jan-23

 

 

3:2:1 Crack

$32.20

$32.07

0.39%

$0.12

Dec-22

 

 

PJM West Spark

$65.84

$71.63

-8.08%

-$5.79

Dec-22

 

 

 

 

Baker Hughes Rig Count

 

 

 

 

 

 

 

Date

Count

Change

1 Year Chg.

1 Year Date

 

 

U.S.

10/28/22

768

-3

224

10/29/21

 

 

Canada

10/28/22

212

2

46

10/29/21

 

 

International

Sept

879

19

92

Sept

 

 

 

 

CFTC Net Positions

 

 

 

 

 

 

As of 10/25/2022

Open Interest

Total Net Long

Total Net Short

Diff

 

 

PJM West On Peak

88,264

87,670

87,767

-97

 

 

PJM West Off Peak

87,620

86,823

87,324

-501

 

 

Natural Gas Henry Hub

472,121

451,674

462,222

-10,548

 

 

WTI – Light Sweet Crude Futures

162,319

131,636

125,004

6,632

 

 

Brent Crude Last Day

181,821

172,519

176,147

-3,628

 

 

NYM Ethanol

26,236

25,297

26,016

-719

 

 

Mt Belvieu LDH Propane Swap

131,120

130,080

130,385

-305

 

 

RBOB

237,997

218,181

224,306

-6,125

 

 

HSC Basis

575,653

572,769

565,497

7,272

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

EIA Lower 48 Natural Gas Storage

 

 

 

 

10/27/17

 

 

 

10/21/22

10/14/22

Net Change

% Change

10/22/21

% Change

5 Year Avg.

% Change

 

 

East

825

812

13

1.60%

885

-6.78%

899

-8.27%

 

 

Midwest

1,007

987

20

2.03%

1,052

-4.28%

1,066

-5.52%

 

 

Mountain

199

195

4

2.05%

212

-6.13%

214

-6.92%

 

 

Pacific

248

249

-1

-0.40%

255

-2.75%

290

-14.60%

 

 

South

1,116

1,099

17

1.55%

1,144

-2.45%

1,147

-2.67%

 

 

    Salt

277

271

6

2.21%

304

-8.88%

301

-7.85%

 

 

    Non_Salt

839

828

11

1.33%

840

-0.12%

846

-0.83%

 

 

Total

3,394

3,342

52

1.56%

3,548

-4.34%

3,616

-6.14%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Power Generation Additions/Retirements

 

 

  

 

Front Month Prices

 

 

 

 

 

 

 

 

 

 

 

 

 

Electricity

 

 

 

EOXLive Market Data

 

 

 

Contract

11/1/22

10/31/22

% Change

Change

10/4/22

% Change

11/2/21

% Change

 

 

PJM West On Peak

Dec-22

$78.91

$83.86

-5.90%

-$4.94

$103.96

-24.09%

$51.90

52.04%

 

 

ERCOT North On Peak

Dec-22

$53.86

$55.03

-2.13%

-$1.17

$60.63

-11.17%

$42.37

27.09%

 

 

CAISO SP 15 On Peak

Dec-22

$86.28

$98.34

-12.26%

-$12.06

$94.44

-8.64%

$65.03

32.68%

 

 

MISO Indiana On Peak

Dec-22

$73.29

$77.93

-5.95%

-$4.64

$97.65

-24.95%

$50.20

46.00%

 

 

NEISO Mass On Peak

Dec-22

$140.75

$157.19

-10.46%

-$16.44

$203.30

-30.77%

$95.96

46.67%

 

 

WECC Mid C On Peak

Dec-22

$95.68

$108.05

-11.44%

-$12.36

$104.83

-8.72%

$69.73

37.21%

 

 

NYISO Zone G On Peak

Dec-22

$93.86

$103.66

-9.46%

-$9.80

$131.10

-28.41%

$69.63

34.79%

 

 

 

 

 

Natural Gas & Basis

 

 

 

EOXLive Market Data

 

 

 

Contract

11/1/22

10/31/22

% Change

Change

10/4/22

% Change

11/2/21

% Change

 

 

NYMEX Henry Hub

Dec-22

$5.714

$6.355

-10.09%

-$0.64

$7.17

-20.35%

$4.29

33.29%

 

 

Houston Ship Channel

Dec-22

-$0.377

-$0.266

41.96%

-$0.11

-$0.30

27.26%

$0.03

-1387.37%

 

 

Chicago

Dec-22

$0.144

$0.133

-7.49%

$0.01

$0.09

60.83%

$0.27

-46.96%

 

 

Waha

Dec-22

-$1.601

-$1.595

-0.38%

-$0.01

-$2.11

-24.07%

-$0.22

643.43%

 

 

Algonquin

Dec-22

$13.987

$12.392

12.88%

$1.60

$17.55

-20.29%

$5.97

134.39%

 

 

Aeco

Dec-22

-$1.597

-$1.643

-2.78%

$0.05

-$2.57

-37.83%

-$0.88

81.85%

 

 

Socal

Dec-22

$1.760

$1.839

-4.26%

-$0.08

$1.44

22.04%

$0.99

78.35%

 

 

 

 

 

Natural Gas Liquids

 

 

 

EOXLive Market Data

 

 

 

Contract

11/1/22

10/31/22

% Change

Change

10/4/22

% Change

11/2/21

% Change

 

 

Mt. Belvieu Propane LST

Dec-22

$0.879

$0.875

0.42%

$0.00

$0.87

1.30%

$1.06

-16.90%

 

 

Mt. Belvieu Propane non LST

Dec-22

$0.883

$0.870

1.42%

$0.01

$0.87

1.44%

$1.06

-16.65%

 

 

Mt. Belview Ethane

Dec-22

$0.407

$0.370

9.81%

$0.04

$0.39

4.49%

$0.33

23.12%

 

 

Mt. Belview Nat. Gasoline

Dec-22

$1.672

$1.643

1.77%

$0.03

$1.63

2.68%

$1.64

2.09%

 

 

Mt. Belvieu Butane LST

Dec-22

$1.010

$1.014

-0.36%

$0.00

$0.99

1.86%

$1.15

-12.39%

 

 

Conway Propane

Dec-22

$0.927

$0.915

1.31%

$0.01

$0.92

1.09%

$1.10

-15.84%

 

 

Conway Nat. Gasoline

Dec-22

$1.732

$1.670

3.69%

$0.06

$1.66

4.48%

$1.56

10.66%

 

 

 

 

Crude Oil

 

 

 

EOXLive Market Data

 

 

 

Contract

11/1/22

10/31/22

% Change

Change

10/4/22

% Change

11/2/21

% Change

 

 

WTI

Dec-22

$88.37

$86.53

2.08%

$1.84

$85.50

3.36%

$71.98

22.77%

 

 

Brent

Dec-22

$94.80

$93.70

1.16%

$1.10

$91.80

3.27%

$75.56

25.46%

 

 

WCS

Dec-22

-$29.76

-$30.50

-2.49%

$0.74

-$24.62

20.91%

-$13.72

116.95%

 

 

LLS

Dec-22

$89.61

$87.10

2.79%

$2.50

$85.86

4.37%

$73.37

22.13%

 

 

Mars

Dec-22

$82.21

$80.24

2.40%

$1.98

$80.81

1.74%

$68.71

19.65%

 

 

Sour

Dec-22

$83.30

$81.28

2.42%

$2.01

$82.70

0.72%

$69.59

19.70%

 

 

ESPO

Dec-22

$90.63

$88.53

2.31%

$2.10

$86.61

4.65%

$74.04

22.40%

 

 

 

 

Refined Products

 

 

 

EOXLive Market Data

 

 

 

Contract

11/1/22

10/31/22

% Change

Change

10/4/22

% Change

11/2/21

% Change

 

 

NY Heating Oil

Dec-22

$3.72

$3.67

1.42%

$0.05

$3.55

4.99%

$2.31

61.61%

 

 

NY Gasoline

Dec-22

$2.56

$2.56

0.23%

$0.01

$2.42

5.95%

$2.07

24.16%

 

 

GC Gasoline

Dec-22

$2.46

$2.46

0.24%

$0.01

$2.32

6.21%

$1.97

25.39%

 

 

GC Jet

Dec-22

$3.21

$3.71

-13.25%

-$0.49

$3.16

1.58%

$2.09

54.20%

 

 

Chicago Ethanol

Dec-22

$2.47

$2.41

2.28%

$0.06

$2.27

8.49%

$2.10

17.54%

 

 

Rotterdam Gasoil

Dec-22

$949.08

$945.58

0.37%

$3.51

$920.95

3.06%

$615.95

54.09%

 

 

Singapore Jet Kero

Dec-22

$118.31

$119.17

-0.72%

-$0.86

$111.60

6.01%

$86.49

36.79%

 

 

 

 

Implied Volatilities

 

 

 

EOXLive Market Data

 

 

 

Contract

11/1/22

10/31/22

% Change

Change

10/4/22

% Change

11/2/21

% Change

 

 

Henry Hub Straddle

Dec-22

112.48%

91.16%

23.39%

21.32%

91.56%

22.85%

38.94%

188.85%

 

 

Algonquin Straddle

Dec-22

145.20%

139.74%

3.91%

5.46%

123.04%

18.01%

49.17%

195.30%

 

 

Waha Straddle

Dec-22

148.79%

126.67%

17.46%

22.12%

116.90%

27.28%

41.24%

260.79%

 

 

Chicago Straddle

Dec-22

115.13%

95.71%

20.29%

19.42%

94.29%

22.10%

37.21%

209.41%

 

 

PJM West Straddle

Dec-22

86.90%

102.56%

-15.27%

-15.66%

93.84%

-7.40%

41.73%

108.24%

 

 

SP – 15 Straddle

Dec-22

131.69%

164.31%

-19.85%

-32.62%

149.65%

-12.00%

25.21%

422.37%

 

 

Mid. C Straddle

Dec-22

322.56%

337.20%

-4.34%

-14.64%

174.44%

84.91%

36.66%

779.87%

 

 

 

 

Euro Gas and Power/LNG

 

 

EOXLive Market Data

 

 

 

Contract

11/1/22

10/31/22

% Change

Change

10/4/22

% Change

11/2/21

% Change

 

 

Dutch TTF

Dec-22

EUR 116.64

EUR 122.00

-4.40%

-EUR 5.36

EUR 177.35

-34.23%

EUR 40.34

189.16%

 

 

NBP

Dec-22

GBP 281.96

GBP 296.57

-4.93%

-GBP 14.61

GBP 450.00

-37.34%

GBP 106.92

163.72%

 

 

German Base

Dec-22

EUR 291.72

EUR 305.00

-4.35%

-EUR 13.28

EUR 396.98

-26.52%

EUR 106.24

174.59%

 

 

UK Base

Dec-22

GBP 302.97

GBP 320.24

-5.39%

-GBP 17.27

GBP 654.56

-53.71%

GBP 104.61

189.64%

 

 

French Base

Dec-22

EUR 704.07

EUR 749.88

-6.11%

-EUR 45.80

EUR 1,205.08

-41.57%

EUR 119.10

491.17%

 

 

Italian Base

Dec-22

EUR 322.12

EUR 336.76

-4.35%

-EUR 14.64

EUR 431.62

-25.37%

EUR 115.73

178.33%

 

 

JKM LNG

Dec-22

$28.03

$27.84

0.67%

$0.19

$33.51

-16.35%

$15.99

75.26%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

Cooling Degree Days

 

 

 

 

 

 

10/29/2022

Week Tot

Dev Norm

Dev L YR

Cum Tot

CumD Norm

CumD L YR

CumD Norm

CumD L YR

 

 

New England

0

0

0

651

234

-5

56.00%

-1.00%

 

 

Middle Atlantic

0

0

0

855

199

-58

30.00%

-6.00%

 

 

E N Central

1

0

1

826

117

-141

17.00%

-15.00%

 

 

W N Central

3

2

3

1,090

163

-28

18.00%

-3.00%

 

 

South Atlantic

16

-3

-9

2,060

189

-74

10.00%

-3.00%

 

 

E S Central

1

-3

-2

1,712

174

40

11.00%

2.00%

 

 

W S Central

19

0

-25

2,840

436

303

18.00%

12.00%

 

 

Mountain

1

-4

-4

1,384

146

2

12.00%

0.00%

 

 

Pacific

0

-3

-1

975

276

69

39.00%

8.00%

 

 

United States

6

-1

-5

1,408

215

1

18.00%

0.00%

 

 

 

 

Heating Degree Days

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

10/29/2022

Week Tot

Dev Norm

Dev L YR

Cum Tot

CumD Norm

CumD L YR

CumD Norm

CumD L YR

 

 

New England

82

-46

-30

497

-121

135

NA

NA

 

 

Middle Atlantic

75

-38

-7

430

-61

216

NA

NA

 

 

E N Central

84

-38

-30

534

-8

228

NA

NA

 

 

W N Central

100

-25

-18

510

-57

157

NA

NA

 

 

South Atlantic

40

-10

9

205

32

129

NA

NA

 

 

E S Central

49

-17

-3

273

48

147

NA

NA

 

 

W S Central

32

1

19

89

8

49

NA

NA

 

 

Mountain

136

32

51

358

-152

-31

NA

NA

 

 

Pacific

68

11

11

140

-136

-124

NA

NA

 

 

United States

69

-14

0

316

-41

102

NA

NA

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

Weather Forecast & Seasonal Outlook

 

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