Prices as of 7:03 AM CST

 

 

 

 

 

 

 

Current Price

Previous Settle

% Change

Change

Volume

 

 

Natural Gas

$3.417

$3.476

-1.70%

-$0.059

21,275

 

 

WTI

$61.42

$61.78

-0.58%

-$0.36

62,139

 

 

Brent

$64.98

$67.04

-3.07%

-$2.06

17,877

 

 

ULSD

$2.276

$2.302

-1.11%

-$0.025

6,563

 

 

RBOB

$1.873

$1.886

-0.68%

-$0.013

5,876

 

 

 

 

Spreads

 

 

 

 

 

 

 

Current

Previous

% Change

Change

Contract

 

 

WTI-Brent

$3.96

$3.96

0.00%

$0.00

Dec-25

 

 

3:2:1 Crack

$21.82

$22.11

-1.32%

-$0.29

Nov-25

 

 

PJM West Spark

$45.37

$42.11

7.73%

$3.26

Nov-25

 

 

 

 

Baker Hughes Rig Count

 

 

 

 

 

 

 

Date

Count

Change

1 Year Chg.

1 Year Date

 

 

U.S.

09/19/25

542

3

-46

09/20/24

 

 

Canada

09/19/25

189

3

-22

09/20/24

 

 

International

August-2025

1076

-3

-66

August-2024

 

 

 

 

CFTC Net Positions

 

 

 

 

 

 

As of 9/23/2025

Open Interest

Total Net Long

Total Net Short

Diff

 

 

PJM West On Peak

102,773

102,325

102,400

-75

 

 

PJM West Off Peak

96,882

96,685

96,493

192

 

 

Natural Gas Henry Hub

345,687

332,518

334,033

-1,515

 

 

WTI – Light Sweet Crude Futures

165,725

139,486

131,892

7,594

 

 

Brent Crude Last Day

235,477

227,938

229,310

-1,372

 

 

NYM Ethanol

53,845

53,048

53,281

-233

 

 

Mt Belvieu LDH Propane Swap

155,446

154,412

155,018

-606

 

 

RBOB

361,113

336,109

347,150

-11,041

 

 

HSC Basis

765,288

754,685

758,098

-3,413

 

 

 

 

EIA Short Term Energy Outlook

 

 

 

 

 

 

 

2023

2024

2025 Projected

2026 Projected

 

 

Brent

$82.00

$81.00

$66.00

$59.00

 

 

Gasoline

$3.50

$3.30

$3.10

$3.10

 

 

Crude Oil Production

$12.90

$13.20

$13.40

$13.50

 

 

Natural Gas Spot

$2.50

$2.20

$4.10

$4.80

 

 

LNG Exports

12.00

12.00

15.00

16.00

 

 

 

 

 

 

 

 

 

 

Electrical Generation %

2023

2024

2025 Projected

2026 Projected

 

 

Natural gas

42.00%

42.00%

40.00%

40.00%

 

 

Coal

17.00%

16.00%

16.00%

15.00%

 

 

Renewables

22.00%

23.00%

25.00%

27.00%

 

 

Nuclear

19.00%

19.00%

19.00%

19.00%

 

 

 

 

 

 

 

 

 

 

 

Short Term Energy Outlook

 

Natural Gas Storage

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

EIA Lower 48 Natural Gas Storage

 

 

 

 

09/25/20

 

 

 

9/19/25

9/12/25

Net Change

% Change

9/27/24

% Change

5 Year Avg.

% Change

 

 

East

807

781

26

3.33%

846

-4.61%

808

-0.10%

 

 

Midwest

945

920

25

2.72%

1,013

-6.71%

964

-1.99%

 

 

Mountain

266

261

5

1.92%

283

-6.01%

225

18.22%

 

 

Pacific

300

297

3

1.01%

293

2.39%

273

9.81%

 

 

South

1,190

1,174

16

1.36%

1,113

6.92%

1,092

8.99%

 

 

    Salt

299

294

5

1.70%

261

14.56%

262

13.95%

 

 

    Non_Salt

890

879

11

1.25%

852

4.46%

829

7.33%

 

 

Total

3,508

3,433

75

2.18%

3,547

-1.10%

3,362

4.35%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Power Generation Additions/Retirements

 

 

  

 

Front Month Prices

 

 

 

 

 

 

 

 

 

 

 

 

 

Electricity

 

 

 

OTCGH/EOXLive Market Data

 

 

 

Contract

10/1/25

9/30/25

% Change

Change

9/3/25

% Change

10/1/24

% Change

 

 

PJM West On Peak

Nov-25

$52.73

$49.55

6.42%

$3.18

$44.01

19.82%

$48.71

8.25%

 

 

ERCOT North On Peak

Nov-25

$39.00

$35.17

10.89%

$3.83

$35.38

10.26%

$41.06

-5.00%

 

 

CAISO SP 15 On Peak

Nov-25

$33.75

$32.75

3.05%

$1.00

$36.22

-6.82%

$46.29

-27.08%

 

 

MISO Indiana On Peak

Nov-25

$50.24

$46.59

7.83%

$3.65

$41.43

21.26%

$46.38

8.31%

 

 

NEISO Mass On Peak

Nov-25

$55.87

$52.82

5.78%

$3.05

$54.15

3.18%

$57.90

-3.51%

 

 

WECC Mid C On Peak

Nov-25

$47.14

$41.57

13.40%

$5.57

$50.31

-6.30%

$70.37

-33.01%

 

 

NYISO Zone G On Peak

Nov-25

$53.52

$50.93

5.10%

$2.60

$52.02

2.89%

$48.13

11.21%

 

 

 

 

 

Natural Gas & Basis

 

 

 

OTCGH/EOXLive Market Data

 

 

 

Contract

10/1/25

9/30/25

% Change

Change

9/3/25

% Change

10/1/24

% Change

 

 

NYMEX Henry Hub

Nov-25

$3.476

$3.303

5.24%

$0.17

$3.38

2.96%

$3.64

-4.43%

 

 

Houston Ship Channel

Nov-25

-$0.348

-$0.363

-3.97%

$0.01

-$0.48

-26.96%

-$0.61

-43.04%

 

 

Chicago

Nov-25

-$0.248

-$0.223

-10.06%

-$0.02

-$0.25

0.49%

-$0.24

5.18%

 

 

Waha

Nov-25

-$3.509

-$3.188

-10.10%

-$0.32

-$2.53

38.63%

-$1.58

122.10%

 

 

Algonquin

Nov-25

$0.743

$0.712

4.33%

$0.03

$0.72

2.53%

$0.97

-23.74%

 

 

Aeco

Nov-25

-$1.581

-$1.472

7.35%

-$0.11

-$1.44

9.96%

-$1.30

21.33%

 

 

Socal

Nov-25

-$0.340

-$0.287

18.30%

-$0.05

$0.03

-1133.74%

$0.48

-170.53%

 

 

 

 

 

Natural Gas Liquids

 

 

 

OTCGH/EOXLive Market Data

 

 

 

Contract

10/1/25

9/30/25

% Change

Change

9/3/25

% Change

10/1/24

% Change

 

 

Mt. Belvieu Propane LST

Nov-25

$0.690

$0.710

-2.83%

-$0.02

$0.71

-3.34%

$0.74

-7.33%

 

 

Mt. Belvieu Propane non LST

Nov-25

$0.680

$0.703

-3.22%

-$0.02

$0.72

-4.91%

$0.75

-9.33%

 

 

Mt. Belview Ethane

Nov-25

$0.270

$0.269

0.47%

$0.00

$0.24

10.70%

$0.25

6.42%

 

 

Mt. Belview Nat. Gasoline

Nov-25

$1.270

$1.286

-1.26%

-$0.02

$1.32

-3.45%

$1.40

-9.36%

 

 

Mt. Belvieu Butane LST

Nov-25

$0.863

$0.905

-4.70%

-$0.04

$0.88

-1.52%

$0.89

-2.70%

 

 

Far East Propane

Nov-25

$5.180

$5.231

-0.97%

-$0.05

$5.55

-6.67%

$5.59

-7.35%

 

 

Saudi Propane

Nov-25

$4.745

$5.370

-11.63%

-$0.62

$5.50

-13.65%

$5.19

-8.61%

 

 

 

 

Crude Oil

 

 

 

OTCGH/EOXLive Market Data

 

 

 

Contract

10/1/25

9/30/25

% Change

Change

9/3/25

% Change

10/1/24

% Change

 

 

WTI

Nov-25

$61.78

$62.37

-0.96%

-$0.59

$63.57

-2.82%

$67.55

-8.54%

 

 

Brent

Nov-25

$65.50

$66.21

-1.08%

-$0.71

$67.60

-3.10%

$72.06

-9.10%

 

 

WCS

Nov-25

-$10.06

-$11.97

-19.05%

$1.91

-$12.44

-19.20%

-$15.96

-36.99%

 

 

LLS

Nov-25

$63.28

$64.14

-1.36%

-$0.86

$65.61

-3.55%

$70.92

-10.77%

 

 

Mars

Nov-25

$60.37

$61.54

-1.93%

-$1.16

$63.07

-4.28%

$67.93

-11.13%

 

 

Sour

Nov-25

$61.79

$62.58

-1.28%

-$0.79

$64.03

-3.50%

$69.32

-10.87%

 

 

ESPO

Nov-25

$63.50

$64.21

-1.12%

-$0.71

$65.60

-3.20%

$70.06

-9.36%

 

 

 

 

Refined Products

 

 

 

OTCGH/EOXLive Market Data

 

 

 

Contract

10/1/25

9/30/25

% Change

Change

9/3/25

% Change

10/1/24

% Change

 

 

NY Heating Oil

Nov-25

$2.31

$2.33

-1.03%

-$0.02

$2.35

-1.71%

$2.27

1.36%

 

 

NY Gasoline

Nov-25

$1.91

$1.92

-0.52%

-$0.01

$1.96

-2.55%

$1.91

0.00%

 

 

GC Gasoline

Nov-25

$1.77

$1.78

-0.56%

-$0.01

$1.82

-2.75%

$1.81

-2.21%

 

 

GC Jet

Nov-25

$2.13

$2.12

0.47%

$0.01

$2.08

2.06%

$2.08

2.21%

 

 

Chicago Ethanol

Nov-25

$1.92

$1.86

3.11%

$0.06

$1.85

3.73%

$1.59

20.51%

 

 

Rotterdam Gasoil

Nov-25

$601.46

$609.12

-1.26%

-$7.66

$598.84

0.44%

$611.23

-1.60%

 

 

Singapore Jet Kero

Nov-25

$86.13

$86.05

0.10%

$0.08

$85.28

1.00%

$84.45

1.99%

 

 

 

 

Implied Volatilities

 

 

 

OTCGH/EOXLive Market Data

 

 

 

Contract

10/1/25

9/30/25

% Change

Change

9/3/25

% Change

10/1/24

% Change

 

 

Henry Hub Straddle

Nov-25

51.38%

53.71%

-4.34%

-2.33%

51.88%

-0.96%

40.89%

25.65%

 

 

Algonquin Straddle

Nov-25

57.33%

63.56%

-9.80%

-6.23%

63.05%

-9.07%

50.47%

13.59%

 

 

Waha Straddle

Nov-25

1187.37%

1125.35%

5.51%

62.02%

214.28%

454.12%

49.92%

2278.55%

 

 

Chicago Straddle

Nov-25

50.93%

55.20%

-7.74%

-4.27%

54.25%

-6.12%

41.34%

23.20%

 

 

PJM West Straddle

Nov-25

36.59%

36.97%

-1.03%

-0.38%

34.45%

6.21%

39.59%

-7.58%

 

 

SP – 15 Straddle

Nov-25

234.44%

231.01%

1.48%

3.43%

310.28%

-24.44%

50.09%

368.04%

 

 

Mid. C Straddle

Nov-25

37.72%

40.50%

-6.86%

-2.78%

46.98%

-19.71%

61.25%

-38.42%

 

 

 

 

Euro Gas and Power/LNG

 

 

OTCGH/EOXLive Market Data

 

 

 

Contract

10/1/25

9/30/25

% Change

Change

9/3/25

% Change

10/1/24

% Change

 

 

Dutch TTF

Nov-25

EUR 31.43

EUR 31.42

0.04%

EUR 0.01

EUR 33.13

-5.11%

EUR 38.75

-18.88%

 

 

NBP

Nov-25

GBP 80.33

GBP 80.53

-0.25%

-GBP 0.20

GBP 84.35

-4.77%

GBP 99.39

-19.18%

 

 

German Base

Nov-25

EUR 94.74

EUR 95.18

-0.46%

-EUR 0.44

EUR 95.72

-1.03%

EUR 94.60

0.14%

 

 

UK Base

Nov-25

GBP 80.09

GBP 79.63

0.57%

GBP 0.46

GBP 82.87

-3.36%

GBP 83.48

-4.07%

 

 

French Base

Nov-25

EUR 71.04

EUR 71.25

-0.30%

-EUR 0.21

EUR 74.05

-4.06%

EUR 79.86

-11.04%

 

 

Italian Base

Nov-25

EUR 108.23

EUR 109.10

-0.79%

-EUR 0.87

EUR 110.52

-2.07%

EUR 113.01

-4.22%

 

 

JKM LNG

Nov-25

$10.74

$10.81

-0.62%

-$0.07

$11.35

-5.38%

$13.45

-20.17%

 

 

 

 

Freight Forwards (WET & DRY)

 

OTCGH/EOXLive Market Data

 

 

 

Contract

10/1/25

9/30/25

% Change

Change

9/3/25

% Change

10/1/24

% Change

 

 

TD3C FFA Middle East to China (WET)

Nov-25

$31.43

$31.42

0.04%

$0.01

$33.13

-5.11%

$38.75

-18.88%

 

 

USGC-UK Continent Dirty (WET)

Nov-25

$80.33

$80.53

-0.25%

-$0.20

$84.35

-4.77%

$99.39

-19.18%

 

 

TD20 West Africa to UK Continent (WET)

Nov-25

$94.74

$95.18

-0.46%

-$0.44

$95.72

-1.03%

$94.60

0.14%

 

 

LPG FFA Middle East Gulf to East (WET)

Nov-25

$80.09

$79.63

0.57%

$0.46

$82.87

-3.36%

$83.48

-4.07%

 

 

TC5 FFA Arabian Gulf to Japan (WET)

Nov-25

$71.04

$71.25

-0.30%

-$0.21

$74.05

-4.06%

$79.86

-11.04%

 

 

Supramax Timecharter (DRY)

Nov-25

$108.23

$109.10

-0.79%

-$0.87

$110.52

-2.07%

$113.01

-4.22%

 

 

Capesize Timecharter (DRY)

Nov-25

$10.74

$10.81

-0.62%

-$0.07

$11.35

-5.38%

$13.45

-20.17%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

Cooling Degree Days

 

 

 

 

 

 

09/27/2025

Week Tot

Dev Norm

Dev L YR

Cum Tot

CumD Norm

CumD L YR

CumD Norm

CumD L YR

 

 

New England

7

6

6

542

126

-46

30.00%

-8.00%

 

 

Middle Atlantic

22

16

11

786

137

-72

21.00%

-8.00%

 

 

E N Central

24

17

1

829

130

29

19.00%

4.00%

 

 

W N Central

29

18

5

994

83

27

9.00%

3.00%

 

 

South Atlantic

73

23

3

1,923

186

-43

11.00%

-2.00%

 

 

E S Central

63

27

-9

1,692

219

-20

15.00%

-1.00%

 

 

W S Central

92

27

-5

2,483

233

-69

10.00%

-3.00%

 

 

Mountain

33

3

-1

1,268

95

-44

8.00%

-3.00%

 

 

Pacific

30

7

7

720

65

-99

10.00%

-12.00%

 

 

United States

44

17

3

1,273

141

-41

12.00%

-3.00%

 

 

 

 

Heating Degree Days

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

09/27/2025

Week Tot

Dev Norm

Dev L YR

Cum Tot

CumD Norm

CumD L YR

CumD Norm

CumD L YR

 

 

New England

28

-25

-13

139

-23

23

-14.00%

20.00%

 

 

Middle Atlantic

8

-31

-4

56

-49

2

-47.00%

2.00%

 

 

E N Central

8

-34

-5

116

-17

22

-13.00%

23.00%

 

 

W N Central

10

-34

-13

97

-63

10

-39.00%

11.00%

 

 

South Atlantic

0

-11

0

11

-7

0

NA

NA

 

 

E S Central

0

-14

-1

12

-12

1

NA

NA

 

 

W S Central

0

-3

-1

3

-4

0

NA

NA

 

 

Mountain

24

-17

2

61

-101

-1

-62.00%

-2.00%

 

 

Pacific

8

-11

-1

23

-75

-33

NA

NA

 

 

United States

7

-19

-3

51

-36

1

NA

NA

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gas * Power * NGL * Crude * Products * Vol * Freight * Spreads – Charts

 

 

 

 

 

Weather Forecast & Seasonal Outlook

 

Tropical Outlook

 

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