Morning Report: Gas * Power * NGL * Crude * Products * Vols — Nov-23-2022

Nov 23, 2022

  

 

 

 

 

 

 

 

 

 

Prices as of 8:29 AM CST

 

 

 

 

 

 

 

Current Price

Previous Settle

% Change

Change

Volume

 

 

Natural Gas

$7.562

$6.779

11.55%

$0.783

14,911

 

 

WTI

$78.06

$80.95

-3.57%

-$2.89

160,664

 

 

Brent

$85.22

$88.36

-3.55%

-$3.14

13,099

 

 

ULSD

$3.429

$3.471

-1.22%

-$0.043

1,291

 

 

RBOB

$2.431

$2.541

-4.30%

-$0.109

2,695

 

 

 

 

Spreads

 

 

 

 

 

 

 

Current

Previous

% Change

Change

Contract

 

 

WTI-Brent

$7.05

$7.41

-4.86%

-$0.36

Jan-23

 

 

3:2:1 Crack

$34.22

$34.61

-1.10%

-$0.38

Jan-23

 

 

PJM West Spark

$89.51

$84.58

5.82%

$4.92

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

11/22/22

11/21/22

% Change

Change

10/25/22

% Change

11/23/21

% Change

 

 

PJM West On Peak

Dec-22

$105.58

$99.09

6.55%

$6.49

$87.35

20.87%

$53.29

98.13%

 

 

ERCOT North On Peak

Dec-22

$62.03

$59.04

5.07%

$3.00

$55.99

10.80%

$42.06

47.47%

 

 

CAISO SP 15 On Peak

Dec-22

$106.69

$98.00

8.87%

$8.69

$86.05

23.98%

$68.18

56.47%

 

 

MISO Indiana On Peak

Dec-22

$99.07

$92.47

7.14%

$6.60

$81.38

21.74%

$52.70

88.00%

 

 

NEISO Mass On Peak

Dec-22

$199.70

$174.85

14.21%

$24.85

$159.38

25.29%

$93.91

112.65%

 

 

WECC Mid C On Peak

Dec-22

$132.60

$121.30

9.31%

$11.30

$95.29

39.15%

$76.12

74.20%

 

 

NYISO Zone G On Peak

Dec-22

$143.07

$128.25

11.55%

$14.82

$102.64

39.39%

$68.66

108.36%

 

 

 

 

 

Natural Gas & Basis

 

 

 

EOXLive Market Data

 

 

 

Contract

11/22/22

11/21/22

% Change

Change

10/25/22

% Change

11/23/21

% Change

 

 

NYMEX Henry Hub

Dec-22

$6.779

$6.776

0.04%

$0.00

$6.17

9.94%

$4.39

54.31%

 

 

Houston Ship Channel

Dec-22

-$0.603

-$0.165

264.49%

-$0.44

-$0.31

97.22%

$0.05

-1387.39%

 

 

Chicago

Dec-22

$0.203

$0.174

-14.06%

$0.03

$0.10

102.30%

$0.17

18.75%

 

 

Waha

Dec-22

-$1.748

-$1.915

-8.76%

$0.17

-$1.71

1.94%

-$0.24

619.47%

 

 

Algonquin

Dec-22

$16.647

$15.310

8.73%

$1.34

$13.64

22.04%

$6.06

174.62%

 

 

Aeco

Dec-22

-$2.092

-$1.825

14.66%

-$0.27

-$1.75

19.38%

-$1.16

80.05%

 

 

Socal

Dec-22

$2.790

$2.315

20.50%

$0.47

$1.81

54.43%

$0.95

193.77%

 

 

 

 

 

Natural Gas Liquids

 

 

 

EOXLive Market Data

 

 

 

Contract

11/22/22

11/21/22

% Change

Change

10/25/22

% Change

11/23/21

% Change

 

 

Mt. Belvieu Propane LST

Dec-22

$0.840

$0.845

-0.59%

$0.00

$0.85

-1.62%

$0.96

-12.72%

 

 

Mt. Belvieu Propane non LST

Dec-22

$0.850

$0.832

2.13%

$0.02

$0.86

-0.59%

$0.94

-9.84%

 

 

Mt. Belview Ethane

Dec-22

$0.398

$0.408

-2.43%

-$0.01

$0.38

5.27%

$0.33

21.69%

 

 

Mt. Belview Nat. Gasoline

Dec-22

$1.515

$1.516

-0.03%

$0.00

$1.61

-5.83%

$1.56

-2.92%

 

 

Mt. Belvieu Butane LST

Dec-22

$0.993

$0.994

-0.03%

$0.00

$0.99

0.82%

$1.04

-4.63%

 

 

Conway Propane

Dec-22

$0.868

$0.875

-0.87%

-$0.01

$0.90

-3.30%

$0.99

-12.14%

 

 

Conway Nat. Gasoline

Dec-22

$1.619

$1.638

-1.16%

-$0.02

$1.64

-1.31%

$1.56

3.73%

 

 

 

 

Crude Oil

 

 

 

EOXLive Market Data

 

 

 

Contract

11/22/22

11/21/22

% Change

Change

10/25/22

% Change

11/23/21

% Change

 

 

WTI

Jan-23

$80.95

$80.04

1.12%

$0.91

$84.31

-3.99%

$71.51

13.20%

 

 

Brent

Jan-23

$88.36

$87.45

1.03%

$0.91

$91.74

-3.68%

$75.34

17.28%

 

 

WCS

Jan-23

-$27.40

-$27.17

0.83%

-$0.23

-$25.50

7.44%

-$15.78

73.56%

 

 

LLS

Jan-23

$82.83

$81.91

1.11%

$0.92

$84.92

-2.46%

$68.98

20.07%

 

 

Mars

Jan-23

$76.56

$76.17

0.51%

$0.39

$78.96

-3.04%

$65.23

17.36%

 

 

Sour

Jan-23

$76.18

$75.31

1.15%

$0.87

$80.96

-5.90%

$68.29

11.57%

 

 

ESPO

Jan-23

$84.81

$83.46

1.60%

$1.35

$86.34

-1.77%

$69.49

22.05%

 

 

 

 

Refined Products

 

 

 

EOXLive Market Data

 

 

 

Contract

11/22/22

11/21/22

% Change

Change

10/25/22

% Change

11/23/21

% Change

 

 

NY Heating Oil

Dec-22

$3.46

$3.50

-1.23%

-$0.04

$3.57

-3.11%

$2.27

52.56%

 

 

NY Gasoline

Dec-22

$2.55

$2.45

3.92%

$0.10

$2.54

0.16%

$2.05

24.13%

 

 

GC Gasoline

Dec-22

$2.45

$2.35

4.09%

$0.10

$2.44

0.16%

$1.95

25.37%

 

 

GC Jet

Dec-22

$3.06

$2.99

2.27%

$0.07

$3.41

-10.13%

$2.00

52.95%

 

 

Chicago Ethanol

Dec-22

$2.38

$2.35

1.19%

$0.03

$2.31

2.90%

$2.00

18.94%

 

 

Rotterdam Gasoil

Dec-22

$905.37

$865.20

4.64%

$40.17

$943.20

-4.01%

$597.78

51.46%

 

 

Singapore Jet Kero

Dec-22

$116.17

$116.92

-0.65%

-$0.76

$116.95

-0.67%

$82.67

40.51%

 

 

 

 

Implied Volatilities

 

 

 

EOXLive Market Data

 

 

 

Contract

11/22/22

11/21/22

% Change

Change

10/25/22

% Change

11/23/21

% Change

 

 

Henry Hub Straddle

Jan-23

124.80%

123.54%

1.02%

1.26%

99.86%

24.97%

43.87%

184.48%

 

 

Algonquin Straddle

Jan-23

167.18%

164.91%

1.38%

2.27%

152.59%

9.56%

53.78%

210.86%

 

 

Waha Straddle

Jan-23

151.74%

148.45%

2.22%

3.29%

121.70%

24.68%

43.52%

248.67%

 

 

Chicago Straddle

Jan-23

114.05%

112.43%

1.44%

1.62%

94.27%

20.98%

41.66%

173.76%

 

 

PJM West Straddle

Jan-23

147.27%

134.52%

9.48%

12.75%

116.50%

26.41%

52.69%

179.50%

 

 

SP – 15 Straddle

Jan-23

132.71%

132.12%

0.45%

0.59%

99.21%

33.77%

30.96%

328.65%

 

 

Mid. C Straddle

Jan-23

235.14%

244.61%

-3.87%

-9.47%

156.29%

50.45%

49.58%

374.26%

 

 

 

 

Euro Gas and Power/LNG

 

 

EOXLive Market Data

 

 

 

Contract

11/22/22

11/21/22

% Change

Change

10/25/22

% Change

11/23/21

% Change

 

 

Dutch TTF

Jan-23

EUR 133.04

EUR 120.00

10.87%

EUR 13.04

EUR 140.21

-5.11%

EUR 43.32

207.14%

 

 

NBP

Jan-23

GBP 332.30

GBP 307.50

8.07%

GBP 24.80

GBP 363.91

-8.69%

GBP 116.37

185.55%

 

 

German Base

Jan-23

EUR 323.22

EUR 315.06

2.59%

EUR 8.16

EUR 443.28

-27.09%

EUR 120.67

167.86%

 

 

UK Base

Jan-23

GBP 429.23

GBP 433.60

-1.01%

-GBP 4.37

GBP 738.63

-41.89%

GBP 120.88

255.08%

 

 

French Base

Jan-23

EUR 730.13

EUR 707.80

3.15%

EUR 22.33

EUR 1,332.19

-45.19%

EUR 131.57

454.96%

 

 

Italian Base

Jan-23

EUR 347.20

EUR 308.94

12.38%

EUR 38.26

EUR 365.45

-4.99%

EUR 125.00

177.77%

 

 

JKM LNG

Jan-23

$30.44

$31.92

-4.65%

-$1.49

$30.34

0.31%

$16.64

82.98%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

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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