Morning Report: Gas * Power * NGL * Crude * Products * Vols — Nov-25-2022

Nov 25, 2022

  

 

 

 

 

 

 

 

 

 

Prices as of 9:55 AM CST

 

 

 

 

 

 

 

Current Price

Previous Settle

% Change

Change

Volume

 

 

Natural Gas

$7.237

$7.308

-0.97%

-$0.071

11,253

 

 

WTI

$78.23

$77.94

0.37%

$0.29

192,498

 

 

Brent

$85.39

$85.41

-0.02%

-$0.02

8,240

 

 

ULSD

$3.365

$3.359

0.15%

$0.005

2,589

 

 

RBOB

$2.425

$2.474

-1.98%

-$0.049

3,438

 

 

 

 

Spreads

 

 

 

 

 

 

 

Current

Previous

% Change

Change

Contract

 

 

WTI-Brent

$7.14

$7.47

-4.42%

-$0.33

Jan-23

 

 

3:2:1 Crack

$33.85

$34.94

-3.11%

-$1.09

Jan-23

 

 

PJM West Spark

$90.60

$89.95

0.73%

$0.65

Dec-22

 

 

 

 

Baker Hughes Rig Count

 

 

 

 

 

 

 

Date

Count

Change

1 Year Chg.

1 Year Date

 

 

U.S.

11/23/22

784

2

215

11/24/21

 

 

Canada

11/23/22

194

-7

23

11/24/21

 

 

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

 

 

 

 

11/24/17

 

 

 

11/18/22

11/11/22

Net Change

% Change

11/19/21

% Change

5 Year Avg.

% Change

 

 

East

866

882

-16

-1.81%

889

-2.59%

874

-0.94%

 

 

Midwest

1,063

1,084

-21

-1.94%

1,066

-0.28%

1,051

1.10%

 

 

Mountain

203

208

-5

-2.40%

210

-3.33%

210

-3.15%

 

 

Pacific

232

241

-9

-3.73%

262

-11.45%

289

-19.61%

 

 

South

1,200

1,228

-28

-2.28%

1,197

0.25%

1,161

3.39%

 

 

    Salt

318

327

-9

-2.75%

338

-5.92%

321

-0.87%

 

 

    Non_Salt

882

901

-19

-2.11%

859

2.68%

840

5.05%

 

 

Total

3,564

3,644

-80

-2.20%

3,623

-1.63%

3,584

-0.56%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Power Generation Additions/Retirements

 

 

  

 

Front Month Prices

 

 

 

 

 

 

 

 

 

 

 

 

 

Electricity

 

 

 

EOXLive Market Data

 

 

 

Contract

11/23/22

11/22/22

% Change

Change

10/26/22

% Change

11/24/21

% Change

 

 

PJM West On Peak

Dec-22

$106.09

$105.58

0.48%

$0.51

$87.07

21.85%

$54.89

93.28%

 

 

ERCOT North On Peak

Dec-22

$66.44

$62.03

7.11%

$4.41

$54.57

21.76%

$42.12

57.77%

 

 

CAISO SP 15 On Peak

Dec-22

$133.14

$106.69

24.79%

$26.45

$87.55

52.07%

$68.04

95.68%

 

 

MISO Indiana On Peak

Dec-22

$100.08

$99.07

1.02%

$1.01

$80.42

24.44%

$53.21

88.09%

 

 

NEISO Mass On Peak

Dec-22

$217.86

$199.70

9.09%

$18.16

$155.77

39.86%

$91.77

137.40%

 

 

WECC Mid C On Peak

Dec-22

$161.38

$132.60

21.71%

$28.78

$95.85

68.37%

$71.74

124.94%

 

 

NYISO Zone G On Peak

Dec-22

$145.25

$143.07

1.53%

$2.18

$110.13

31.89%

$67.19

116.17%

 

 

 

 

 

Natural Gas & Basis

 

 

 

EOXLive Market Data

 

 

 

Contract

11/23/22

11/22/22

% Change

Change

10/26/22

% Change

11/24/21

% Change

 

 

NYMEX Henry Hub

Dec-22

$7.308

$6.779

7.80%

$0.53

$6.12

19.43%

$4.50

62.36%

 

 

Houston Ship Channel

Dec-22

-$0.644

-$0.603

6.94%

-$0.04

-$0.28

130.44%

$0.04

-1764.86%

 

 

Chicago

Dec-22

$0.237

$0.203

-14.54%

$0.03

$0.13

82.32%

$0.17

40.11%

 

 

Waha

Dec-22

-$2.181

-$1.748

-24.78%

-$0.43

-$1.63

34.00%

-$0.24

802.61%

 

 

Algonquin

Dec-22

$15.839

$16.647

-4.85%

-$0.81

$12.22

29.59%

$6.01

163.70%

 

 

Aeco

Dec-22

-$1.934

-$2.092

-7.59%

$0.16

-$1.86

4.23%

-$1.18

64.55%

 

 

Socal

Dec-22

$5.008

$2.790

79.49%

$2.22

$1.72

191.09%

$0.95

428.84%

 

 

 

 

 

Natural Gas Liquids

 

 

 

EOXLive Market Data

 

 

 

Contract

11/23/22

11/22/22

% Change

Change

10/26/22

% Change

11/24/21

% Change

 

 

Mt. Belvieu Propane LST

Dec-22

$0.820

$0.840

-2.40%

-$0.02

$0.88

-6.84%

$0.97

-15.33%

 

 

Mt. Belvieu Propane non LST

Dec-22

$0.803

$0.850

-5.50%

-$0.05

$0.88

-9.06%

$0.96

-16.68%

 

 

Mt. Belview Ethane

Dec-22

$0.405

$0.398

1.86%

$0.01

$0.41

-2.22%

$0.32

25.92%

 

 

Mt. Belview Nat. Gasoline

Dec-22

$1.540

$1.515

1.63%

$0.02

$1.62

-5.15%

$1.59

-2.95%

 

 

Mt. Belvieu Butane LST

Dec-22

$0.974

$0.993

-1.99%

-$0.02

$1.01

-3.71%

$1.09

-10.81%

 

 

Conway Propane

Dec-22

$0.860

$0.868

-0.90%

-$0.01

$0.92

-6.96%

$1.01

-15.16%

 

 

Conway Nat. Gasoline

Dec-22

$1.606

$1.619

-0.79%

-$0.01

$1.67

-3.60%

$1.59

0.96%

 

 

 

 

Crude Oil

 

 

 

EOXLive Market Data

 

 

 

Contract

11/23/22

11/22/22

% Change

Change

10/26/22

% Change

11/24/21

% Change

 

 

WTI

Jan-23

$77.94

$80.95

-3.86%

-$3.01

$86.68

-10.08%

$71.34

9.25%

 

 

Brent

Jan-23

$85.41

$88.36

-3.45%

-$2.95

$93.79

-8.93%

$75.08

13.76%

 

 

WCS

Jan-23

-$29.11

-$27.40

5.90%

-$1.72

-$26.21

11.06%

-$15.49

87.95%

 

 

LLS

Jan-23

$79.01

$82.83

-4.83%

-$3.82

$86.53

-8.69%

$71.96

9.80%

 

 

Mars

Jan-23

$73.13

$76.56

-4.68%

-$3.42

$81.95

-10.76%

$68.19

7.25%

 

 

Sour

Jan-23

$72.68

$76.18

-4.83%

-$3.51

$83.44

-12.90%

$68.06

6.79%

 

 

ESPO

Jan-23

$80.48

$84.81

-5.38%

-$4.33

$88.36

-8.91%

$72.69

10.72%

 

 

 

 

Refined Products

 

 

 

EOXLive Market Data

 

 

 

Contract

11/23/22

11/22/22

% Change

Change

10/26/22

% Change

11/24/21

% Change

 

 

NY Heating Oil

Dec-22

$3.35

$3.46

-3.01%

-$0.10

$3.70

-9.33%

$2.30

46.04%

 

 

NY Gasoline

Dec-22

$2.44

$2.55

-4.08%

-$0.10

$2.49

-1.85%

$2.05

19.35%

 

 

GC Gasoline

Dec-22

$2.34

$2.45

-4.25%

-$0.10

$2.39

-1.93%

$1.95

20.35%

 

 

GC Jet

Dec-22

$2.87

$3.06

-6.40%

-$0.20

$3.39

-15.51%

$2.07

38.52%

 

 

Chicago Ethanol

Dec-22

$2.43

$2.38

1.97%

$0.05

$2.30

5.34%

$2.13

14.05%

 

 

Rotterdam Gasoil

Dec-22

$877.96

$905.37

-3.03%

-$27.41

$945.04

-7.10%

$615.65

42.61%

 

 

Singapore Jet Kero

Dec-22

$116.51

$116.17

0.30%

$0.35

$120.93

-3.65%

$85.57

36.17%

 

 

 

 

Implied Volatilities

 

 

 

EOXLive Market Data

 

 

 

Contract

11/23/22

11/22/22

% Change

Change

10/26/22

% Change

11/24/21

% Change

 

 

Henry Hub Straddle

Jan-23

122.16%

124.80%

-2.12%

-2.64%

114.13%

7.04%

45.88%

166.26%

 

 

Algonquin Straddle

Jan-23

162.28%

167.18%

-2.93%

-4.90%

172.31%

-5.82%

55.11%

194.47%

 

 

Waha Straddle

Jan-23

148.56%

151.74%

-2.10%

-3.18%

135.95%

9.28%

46.77%

217.64%

 

 

Chicago Straddle

Jan-23

111.64%

114.05%

-2.11%

-2.41%

108.44%

2.95%

44.23%

152.41%

 

 

PJM West Straddle

Jan-23

148.53%

147.27%

0.86%

1.26%

126.58%

17.34%

53.75%

176.33%

 

 

SP – 15 Straddle

Jan-23

158.70%

132.71%

19.58%

25.99%

103.99%

52.61%

22.98%

590.60%

 

 

Mid. C Straddle

Jan-23

248.33%

235.14%

5.61%

13.19%

174.78%

42.08%

36.30%

584.10%

 

 

 

 

Euro Gas and Power/LNG

 

 

EOXLive Market Data

 

 

 

Contract

11/23/22

11/22/22

% Change

Change

10/26/22

% Change

11/24/21

% Change

 

 

Dutch TTF

Jan-23

EUR 136.00

EUR 133.04

2.22%

EUR 2.96

EUR 138.99

-2.15%

EUR 44.38

206.41%

 

 

NBP

Jan-23

GBP 340.30

GBP 332.30

2.41%

GBP 8.00

GBP 362.50

-6.12%

GBP 119.19

185.52%

 

 

German Base

Jan-23

EUR 358.33

EUR 323.22

10.86%

EUR 35.12

EUR 420.40

-14.76%

EUR 121.93

193.88%

 

 

UK Base

Jan-23

GBP 444.35

GBP 429.23

3.52%

GBP 15.13

GBP 778.72

-42.94%

GBP 110.97

300.44%

 

 

French Base

Jan-23

EUR 834.05

EUR 730.13

14.23%

EUR 103.92

EUR 1,254.09

-33.49%

EUR 133.75

523.58%

 

 

Italian Base

Jan-23

EUR 354.11

EUR 347.20

1.99%

EUR 6.92

EUR 355.77

-0.47%

EUR 126.37

180.22%

 

 

JKM LNG

Jan-23

$31.23

$30.44

2.61%

$0.79

$30.16

3.54%

$17.14

82.17%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

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

 

Tropical Outlook

 

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