Morning Report: Gas * Power * NGL * Crude * Products * Vols — Nov-22-2022

Nov 22, 2022

  

 

 

 

 

 

 

 

 

 

Prices as of 8:08 AM CST

 

 

 

 

 

 

 

Current Price

Previous Settle

% Change

Change

Volume

 

 

Natural Gas

$6.585

$6.776

-2.82%

-$0.191

11,886

 

 

WTI

$81.31

$79.73

1.98%

$1.58

97,453

 

 

Brent

$88.90

$87.45

1.66%

$1.45

8,580

 

 

ULSD

$3.527

$3.497

0.85%

$0.030

1,133

 

 

RBOB

$2.506

$2.437

2.84%

$0.069

2,301

 

 

 

 

Spreads

 

 

 

 

 

 

 

Current

Previous

% Change

Change

Contract

 

 

WTI-Brent

$7.60

$7.41

2.56%

$0.19

Jan-23

 

 

3:2:1 Crack

$34.22

$33.47

2.23%

$0.75

Jan-23

 

 

PJM West Spark

$84.99

$81.79

3.92%

$3.20

Dec-22

 

 

 

 

Baker Hughes Rig Count

 

 

 

 

 

 

 

Date

Count

Change

1 Year Chg.

1 Year Date

 

 

U.S.

11/18/22

782

3

219

11/19/21

 

 

Canada

11/18/22

201

1

34

11/19/21

 

 

International

Oct

911

32

111

Sept

 

 

 

 

CFTC Net Positions

 

 

 

 

 

 

As of 11/15/2022

Open Interest

Total Net Long

Total Net Short

Diff

 

 

PJM West On Peak

84,379

83,834

84,173

-339

 

 

PJM West Off Peak

80,820

80,026

80,564

-538

 

 

Natural Gas Henry Hub

452,270

435,888

442,495

-6,607

 

 

WTI – Light Sweet Crude Futures

147,682

119,131

113,610

5,521

 

 

Brent Crude Last Day

149,119

138,927

143,595

-4,668

 

 

NYM Ethanol

24,167

23,247

23,822

-575

 

 

Mt Belvieu LDH Propane Swap

134,254

133,235

132,987

248

 

 

RBOB

265,895

245,347

252,192

-6,845

 

 

HSC Basis

566,768

563,096

557,308

5,788

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

EIA Lower 48 Natural Gas Storage

 

 

 

 

11/17/17

 

 

 

11/11/22

11/4/22

Net Change

% Change

11/12/21

% Change

5 Year Avg.

% Change

 

 

East

882

865

17

1.97%

900

-2.00%

891

-1.03%

 

 

Midwest

1,084

1,068

16

1.50%

1,079

0.46%

1,067

1.57%

 

 

Mountain

208

208

0

0.00%

212

-1.89%

210

-1.14%

 

 

Pacific

241

247

-6

-2.43%

261

-7.66%

289

-16.55%

 

 

South

1,228

1,193

35

2.93%

1,191

3.11%

1,158

6.03%

 

 

    Salt

327

311

16

5.14%

331

-1.21%

314

4.07%

 

 

    Non_Salt

901

882

19

2.15%

860

4.77%

844

6.78%

 

 

Total

3,644

3,580

64

1.79%

3,644

0.00%

3,616

0.78%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Power Generation Additions/Retirements

 

 

  

 

Front Month Prices

 

 

 

 

 

 

 

 

 

 

 

 

 

Electricity

 

 

 

EOXLive Market Data

 

 

 

Contract

11/21/22

11/18/22

% Change

Change

10/24/22

% Change

11/22/21

% Change

 

 

PJM West On Peak

Dec-22

$99.09

$96.29

2.91%

$2.80

$83.01

19.37%

$52.41

89.05%

 

 

ERCOT North On Peak

Dec-22

$59.04

$57.10

3.39%

$1.94

$52.49

12.47%

$41.71

41.53%

 

 

CAISO SP 15 On Peak

Dec-22

$98.00

$88.98

10.13%

$9.02

$83.61

17.20%

$64.63

51.63%

 

 

MISO Indiana On Peak

Dec-22

$92.47

$87.07

6.20%

$5.40

$77.16

19.84%

$50.53

83.00%

 

 

NEISO Mass On Peak

Dec-22

$174.85

$157.45

11.05%

$17.40

$150.51

16.17%

$94.19

85.63%

 

 

WECC Mid C On Peak

Dec-22

$121.30

$108.09

12.22%

$13.21

$89.06

36.20%

$69.04

75.70%

 

 

NYISO Zone G On Peak

Dec-22

$128.25

$114.19

12.31%

$14.06

$103.18

24.31%

$69.81

83.71%

 

 

 

 

 

Natural Gas & Basis

 

 

 

EOXLive Market Data

 

 

 

Contract

11/21/22

11/18/22

% Change

Change

10/24/22

% Change

11/22/21

% Change

 

 

NYMEX Henry Hub

Dec-22

$6.776

$6.303

7.50%

$0.47

$5.75

17.78%

$4.27

58.84%

 

 

Houston Ship Channel

Dec-22

-$0.165

-$0.840

-80.33%

$0.68

-$0.27

-39.65%

$0.05

-416.67%

 

 

Chicago

Dec-22

$0.174

$0.154

-11.83%

$0.02

$0.06

204.55%

$0.16

8.81%

 

 

Waha

Dec-22

-$1.915

-$1.765

-8.50%

-$0.15

-$1.49

28.54%

-$0.23

730.93%

 

 

Algonquin

Dec-22

$15.310

$12.521

22.27%

$2.79

$10.69

43.18%

$5.52

177.42%

 

 

Aeco

Dec-22

-$1.825

-$1.734

5.26%

-$0.09

-$1.53

19.51%

-$1.14

59.58%

 

 

Socal

Dec-22

$2.315

$2.071

11.77%

$0.24

$1.72

34.43%

$0.92

152.71%

 

 

 

 

 

Natural Gas Liquids

 

 

 

EOXLive Market Data

 

 

 

Contract

11/21/22

11/18/22

% Change

Change

10/24/22

% Change

11/22/21

% Change

 

 

Mt. Belvieu Propane LST

Dec-22

$0.845

$0.855

-1.17%

-$0.01

$0.85

-0.15%

$0.91

-7.07%

 

 

Mt. Belvieu Propane non LST

Dec-22

$0.832

$0.847

-1.72%

-$0.01

$0.84

-1.29%

$0.91

-8.67%

 

 

Mt. Belview Ethane

Dec-22

$0.408

$0.412

-1.12%

$0.00

$0.37

10.68%

$0.32

28.42%

 

 

Mt. Belview Nat. Gasoline

Dec-22

$1.516

$1.554

-2.45%

-$0.04

$1.60

-5.49%

$1.55

-2.29%

 

 

Mt. Belvieu Butane LST

Dec-22

$0.994

$0.993

0.11%

$0.00

$0.99

0.51%

$1.03

-3.82%

 

 

Conway Propane

Dec-22

$0.875

$0.893

-1.93%

-$0.02

$0.89

-1.39%

$0.95

-7.46%

 

 

Conway Nat. Gasoline

Dec-22

$1.638

$1.673

-2.11%

-$0.04

$1.66

-1.49%

$1.55

5.38%

 

 

 

 

Crude Oil

 

 

 

EOXLive Market Data

 

 

 

Contract

11/21/22

11/18/22

% Change

Change

10/24/22

% Change

11/22/21

% Change

 

 

WTI

Jan-23

$80.04

$80.11

-0.09%

-$0.07

$83.59

-4.25%

$69.73

14.79%

 

 

Brent

Jan-23

$87.45

$87.62

-0.19%

-$0.17

$91.21

-4.12%

$73.35

19.22%

 

 

WCS

Jan-23

-$27.17

-$26.18

3.65%

-$0.99

-$25.07

8.36%

-$15.69

73.18%

 

 

LLS

Jan-23

$81.91

$82.13

-0.27%

-$0.22

$84.59

-3.17%

$70.26

16.59%

 

 

Mars

Jan-23

$76.17

$76.42

-0.33%

-$0.25

$78.65

-3.16%

$66.19

15.08%

 

 

Sour

Jan-23

$75.31

$79.74

-5.88%

-$4.43

$80.87

-6.88%

$66.75

12.83%

 

 

ESPO

Jan-23

$83.46

$83.04

0.49%

$0.41

$85.99

-2.94%

$70.67

18.10%

 

 

 

 

Refined Products

 

 

 

EOXLive Market Data

 

 

 

Contract

11/21/22

11/18/22

% Change

Change

10/24/22

% Change

11/22/21

% Change

 

 

NY Heating Oil

Dec-22

$3.50

$3.52

-0.57%

-$0.02

$3.59

-2.59%

$2.24

56.53%

 

 

NY Gasoline

Dec-22

$2.45

$2.42

1.24%

$0.03

$2.50

-2.04%

$2.00

22.56%

 

 

GC Gasoline

Dec-22

$2.35

$2.32

1.29%

$0.03

$2.40

-2.12%

$1.90

23.75%

 

 

GC Jet

Dec-22

$2.99

$3.00

-0.17%

-$0.01

$3.22

-6.93%

$2.04

47.13%

 

 

Chicago Ethanol

Dec-22

$2.35

$2.32

1.34%

$0.03

$2.32

1.20%

$2.11

11.57%

 

 

Rotterdam Gasoil

Dec-22

$865.20

$890.58

-2.85%

-$25.38

$954.11

-9.32%

$596.78

44.98%

 

 

Singapore Jet Kero

Dec-22

$116.92

$115.59

1.15%

$1.33

$118.24

-1.11%

$83.48

40.06%

 

 

 

 

Implied Volatilities

 

 

 

EOXLive Market Data

 

 

 

Contract

11/21/22

11/18/22

% Change

Change

10/24/22

% Change

11/22/21

% Change

 

 

Henry Hub Straddle

Jan-23

123.54%

131.53%

-6.07%

-7.99%

112.82%

9.50%

54.73%

125.73%

 

 

Algonquin Straddle

Jan-23

164.91%

176.38%

-6.50%

-11.47%

151.29%

9.00%

61.91%

166.37%

 

 

Waha Straddle

Jan-23

148.45%

157.57%

-5.79%

-9.12%

138.04%

7.54%

54.31%

173.34%

 

 

Chicago Straddle

Jan-23

112.43%

119.25%

-5.72%

-6.82%

107.17%

4.91%

53.04%

111.97%

 

 

PJM West Straddle

Jan-23

134.52%

131.70%

2.14%

2.82%

117.66%

14.33%

52.58%

155.84%

 

 

SP – 15 Straddle

Jan-23

132.12%

120.24%

9.88%

11.88%

152.16%

-13.17%

23.68%

457.94%

 

 

Mid. C Straddle

Jan-23

244.61%

250.91%

-2.51%

-6.30%

217.04%

12.70%

42.61%

474.07%

 

 

 

 

Euro Gas and Power/LNG

 

 

EOXLive Market Data

 

 

 

Contract

11/21/22

11/18/22

% Change

Change

10/24/22

% Change

11/22/21

% Change

 

 

Dutch TTF

Jan-23

EUR 120.00

EUR 116.57

2.94%

EUR 3.43

EUR 139.37

-13.90%

EUR 42.16

184.64%

 

 

NBP

Jan-23

GBP 307.50

GBP 294.80

4.31%

GBP 12.70

GBP 367.33

-16.29%

GBP 113.67

170.52%

 

 

German Base

Jan-23

EUR 315.06

EUR 296.00

6.44%

EUR 19.06

EUR 432.43

-27.14%

EUR 119.92

162.73%

 

 

UK Base

Jan-23

GBP 433.60

GBP 452.16

-4.11%

-GBP 18.56

GBP 727.64

-40.41%

GBP 106.14

308.53%

 

 

French Base

Jan-23

EUR 707.80

EUR 667.62

6.02%

EUR 40.18

EUR 1,271.78

-44.35%

EUR 126.11

461.24%

 

 

Italian Base

Jan-23

EUR 308.94

EUR 303.97

1.63%

EUR 4.97

EUR 368.97

-16.27%

EUR 122.18

152.86%

 

 

JKM LNG

Jan-23

$31.92

$30.65

4.17%

$1.28

$31.59

1.05%

$16.52

93.24%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

Cooling Degree Days

 

 

 

 

 

 

11/19/2022

Week Tot

Dev Norm

Dev L YR

Cum Tot

CumD Norm

CumD L YR

CumD Norm

CumD L YR

 

 

New England

0

0

0

652

235

-4

56.00%

-1.00%

 

 

Middle Atlantic

0

0

0

856

200

-57

30.00%

-6.00%

 

 

E N Central

0

0

0

826

117

-141

17.00%

-15.00%

 

 

W N Central

0

0

0

1,090

163

-28

18.00%

-3.00%

 

 

South Atlantic

9

-3

-1

2,123

208

-42

11.00%

-2.00%

 

 

E S Central

0

-1

0

1,721

178

49

12.00%

3.00%

 

 

W S Central

0

-6

-11

2,887

455

323

19.00%

13.00%

 

 

Mountain

0

-1

-4

1,384

141

-15

11.00%

-1.00%

 

 

Pacific

0

-1

0

975

273

69

39.00%

8.00%

 

 

United States

2

-1

-2

1,426

220

8

18.00%

1.00%

 

 

 

 

Heating Degree Days

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

11/19/2022

Week Tot

Dev Norm

Dev L YR

Cum Tot

CumD Norm

CumD L YR

CumD Norm

CumD L YR

 

 

New England

194

24

36

852

-230

64

NA

NA

 

 

Middle Atlantic

195

39

43

766

-148

164

NA

NA

 

 

E N Central

243

65

57

961

-57

195

NA

NA

 

 

W N Central

277

78

94

1,045

-43

223

NA

NA

 

 

South Atlantic

119

40

38

376

-4

88

NA

NA

 

 

E S Central

191

85

78

539

39

113

NA

NA

 

 

W S Central

152

82

99

302

53

105

NA

NA

 

 

Mountain

223

63

111

885

-49

191

NA

NA

 

 

Pacific

118

24

59

476

-44

28

NA

NA

 

 

United States

179

52

63

646

-46

125

NA

NA

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

Weather Forecast & Seasonal Outlook

 

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