Prices as of 10:47 AM CST

 

 

 

 

 

 

 

Current Price

Previous Settle

% Change

Change

Volume

 

 

Natural Gas

$3.298

$3.267

0.95%

$0.031

93,792

 

 

WTI

$62.30

$63.45

-1.81%

-$1.15

151,018

 

 

Brent

$67.09

$67.97

-1.29%

-$0.88

325

 

 

ULSD

$2.323

$2.357

-1.41%

-$0.033

1,351

 

 

RBOB

$1.971

$1.995

-1.23%

-$0.025

840

 

 

 

 

Spreads

 

 

 

 

 

 

 

Current

Previous

% Change

Change

Contract

 

 

WTI-Brent

$4.59

$4.52

1.55%

$0.07

Nov-25

 

 

3:2:1 Crack

$23.88

$23.80

0.35%

$0.08

Nov-25

 

 

PJM West Spark

NA

NA

NA

NA

Oct-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

9/29/25

9/26/25

% Change

Change

8/29/25

% Change

9/27/24

% Change

 

 

PJM West On Peak

Oct-25

$51.67

$52.27

-1.15%

-$0.60

$47.69

8.35%

$47.99

7.66%

 

 

ERCOT North On Peak

Oct-25

$37.90

$36.18

4.73%

$1.71

$38.43

-1.40%

$43.33

-12.55%

 

 

CAISO SP 15 On Peak

Oct-25

$32.36

$33.25

-2.67%

-$0.89

$33.25

-2.67%

$36.04

-10.21%

 

 

MISO Indiana On Peak

Oct-25

$47.70

$46.31

3.01%

$1.39

$44.09

8.20%

$45.78

4.21%

 

 

NEISO Mass On Peak

Oct-25

$38.66

$39.56

-2.26%

-$0.90

$43.03

-10.16%

$42.70

-9.46%

 

 

WECC Mid C On Peak

Oct-25

$49.50

$51.00

-2.94%

-$1.50

$52.49

-5.69%

$59.91

-17.38%

 

 

NYISO Zone G On Peak

Oct-25

$43.51

$43.74

-0.52%

-$0.23

$45.02

-3.35%

$41.27

5.43%

 

 

 

 

 

Natural Gas & Basis

 

 

 

OTCGH/EOXLive Market Data

 

 

 

Contract

9/29/25

9/26/25

% Change

Change

8/29/25

% Change

9/27/24

% Change

 

 

NYMEX Henry Hub

Nov-25

$3.267

$3.206

1.90%

$0.06

$3.33

-1.98%

$3.64

-10.32%

 

 

Houston Ship Channel

Nov-25

-$0.373

-$0.408

-8.57%

$0.03

-$0.49

-23.43%

-$0.61

-39.21%

 

 

Chicago

Nov-25

-$0.225

-$0.205

-8.89%

-$0.02

-$0.27

-15.58%

-$0.23

-3.85%

 

 

Waha

Nov-25

-$3.094

-$3.101

-0.22%

$0.01

-$2.54

21.86%

-$1.57

97.28%

 

 

Algonquin

Nov-25

$0.803

$0.760

5.70%

$0.04

$0.69

15.94%

$1.00

-19.50%

 

 

Aeco

Nov-25

-$1.403

-$1.386

1.21%

-$0.02

-$1.38

1.60%

-$1.26

11.09%

 

 

Socal

Nov-25

-$0.194

-$0.083

133.53%

-$0.11

-$0.02

772.07%

$0.49

-139.57%

 

 

 

 

 

Natural Gas Liquids

 

 

 

OTCGH/EOXLive Market Data

 

 

 

Contract

9/29/25

9/26/25

% Change

Change

8/29/25

% Change

9/27/24

% Change

 

 

Mt. Belvieu Propane LST

Oct-25

$0.710

$0.728

-2.40%

-$0.02

$0.70

2.16%

$0.71

0.16%

 

 

Mt. Belvieu Propane non LST

Oct-25

$0.711

$0.720

-1.20%

-$0.01

$0.69

3.46%

$0.70

1.58%

 

 

Mt. Belview Ethane

Oct-25

$0.265

$0.259

2.42%

$0.01

$0.23

17.78%

$0.25

5.86%

 

 

Mt. Belview Nat. Gasoline

Oct-25

$1.308

$1.362

-4.01%

-$0.05

$1.31

-0.08%

$1.36

-3.81%

 

 

Mt. Belvieu Butane LST

Oct-25

$0.887

$0.887

0.09%

$0.00

$0.80

10.70%

$0.84

5.43%

 

 

Far East Propane

Oct-25

$5.366

$5.435

-1.27%

-$0.07

$5.44

-1.37%

$5.48

-2.08%

 

 

Saudi Propane

Oct-25

$5.395

$5.400

-0.09%

$0.00

$5.28

2.17%

$5.13

5.15%

 

 

 

 

Crude Oil

 

 

 

OTCGH/EOXLive Market Data

 

 

 

Contract

9/29/25

9/26/25

% Change

Change

8/29/25

% Change

9/27/24

% Change

 

 

WTI

Nov-25

$63.45

$65.72

-3.58%

-$2.27

$63.46

-0.02%

$66.22

-4.18%

 

 

Brent

Nov-25

$67.97

$70.13

-3.18%

-$2.16

$67.48

0.73%

$70.49

-3.57%

 

 

WCS

Nov-25

-$11.87

-$11.44

3.63%

-$0.43

-$12.39

-4.21%

-$15.20

-21.93%

 

 

LLS

Nov-25

$64.78

$67.13

-3.62%

-$2.35

$65.29

-0.79%

$69.41

-6.66%

 

 

Mars

Nov-25

$63.19

$64.57

-2.19%

-$1.38

$62.99

0.31%

$64.21

-1.59%

 

 

Sour

Nov-25

$64.12

$65.63

-2.35%

-$1.51

$64.08

0.06%

$65.62

-2.29%

 

 

ESPO

Nov-25

$65.97

$68.13

-3.27%

-$2.16

$65.48

0.75%

$68.49

-3.68%

 

 

 

 

Refined Products

 

 

 

OTCGH/EOXLive Market Data

 

 

 

Contract

9/29/25

9/26/25

% Change

Change

8/29/25

% Change

9/27/24

% Change

 

 

NY Heating Oil

Oct-25

$2.36

$2.43

-2.80%

-$0.07

$2.27

3.88%

$2.20

7.23%

 

 

NY Gasoline

Oct-25

$1.95

$2.05

-4.88%

-$0.10

$1.98

-1.57%

$1.89

3.01%

 

 

GC Gasoline

Oct-25

$1.81

$1.91

-5.24%

-$0.10

$1.84

-1.68%

$1.79

0.95%

 

 

GC Jet

Oct-25

$2.16

$2.22

-2.80%

-$0.06

$2.03

6.21%

$2.09

3.26%

 

 

Chicago Ethanol

Oct-25

$1.98

$1.97

0.97%

$0.02

$1.96

1.48%

$1.58

25.57%

 

 

Rotterdam Gasoil

Oct-25

$652.61

$668.53

-2.38%

-$15.92

$613.71

6.34%

$611.42

6.74%

 

 

Singapore Jet Kero

Oct-25

$87.84

$90.32

-2.75%

-$2.48

$83.27

5.49%

$85.67

2.53%

 

 

 

 

Implied Volatilities

 

 

 

OTCGH/EOXLive Market Data

 

 

 

Contract

9/29/25

9/26/25

% Change

Change

8/29/25

% Change

9/27/24

% Change

 

 

Henry Hub Straddle

Nov-25

54.90%

55.11%

-0.38%

-0.21%

51.95%

5.68%

38.02%

44.40%

 

 

Algonquin Straddle

Nov-25

63.18%

61.98%

1.94%

1.20%

64.56%

-2.14%

48.27%

30.89%

 

 

Waha Straddle

Nov-25

1151.44%

1168.48%

-1.46%

-17.04%

217.54%

429.30%

49.83%

2210.74%

 

 

Chicago Straddle

Nov-25

55.66%

56.16%

-0.89%

-0.50%

54.56%

2.02%

39.77%

39.95%

 

 

PJM West Straddle

Nov-25

37.45%

34.55%

8.39%

2.90%

35.34%

5.97%

38.86%

-3.63%

 

 

SP – 15 Straddle

Nov-25

227.29%

223.11%

1.87%

4.18%

294.76%

-22.89%

49.80%

356.41%

 

 

Mid. C Straddle

Nov-25

38.47%

40.61%

-5.27%

-2.14%

47.40%

-18.84%

56.31%

-31.68%

 

 

 

 

Euro Gas and Power/LNG

 

 

OTCGH/EOXLive Market Data

 

 

 

Contract

9/29/25

9/26/25

% Change

Change

8/29/25

% Change

9/27/24

% Change

 

 

Dutch TTF

Nov-25

EUR 32.49

EUR 33.06

-1.74%

-EUR 0.57

EUR 32.53

-0.14%

EUR 38.31

-15.18%

 

 

NBP

Nov-25

GBP 83.70

GBP 85.30

-1.87%

-GBP 1.60

GBP 82.83

1.05%

GBP 97.73

-14.36%

 

 

German Base

Nov-25

EUR 97.85

EUR 98.61

-0.77%

-EUR 0.76

EUR 93.02

5.20%

EUR 95.43

2.54%

 

 

UK Base

Nov-25

GBP 83.47

GBP 84.15

-0.81%

-GBP 0.68

GBP 83.36

0.13%

GBP 83.80

-0.39%

 

 

French Base

Nov-25

EUR 71.95

EUR 73.71

-2.39%

-EUR 1.76

EUR 73.89

-2.63%

EUR 82.01

-12.27%

 

 

Italian Base

Nov-25

EUR 109.49

EUR 111.21

-1.55%

-EUR 1.73

EUR 109.29

0.18%

EUR 114.03

-3.98%

 

 

JKM LNG

Nov-25

$11.03

$11.26

-2.07%

-$0.23

$11.22

-1.69%

$13.28

-16.92%

 

 

 

 

Freight Forwards (WET & DRY)

 

OTCGH/EOXLive Market Data

 

 

 

Contract

9/29/25

9/26/25

% Change

Change

8/29/25

% Change

9/27/24

% Change

 

 

TD3C FFA Middle East to China (WET)

Nov-25

$32.49

$33.06

-1.74%

-$0.57

$32.53

-0.14%

$38.31

-15.18%

 

 

USGC-UK Continent Dirty (WET)

Nov-25

$83.70

$85.30

-1.87%

-$1.60

$82.83

1.05%

$97.73

-14.36%

 

 

TD20 West Africa to UK Continent (WET)

Nov-25

$97.85

$98.61

-0.77%

-$0.76

$93.02

5.20%

$95.43

2.54%

 

 

LPG FFA Middle East Gulf to East (WET)

Nov-25

$83.47

$84.15

-0.81%

-$0.68

$83.36

0.13%

$83.80

-0.39%

 

 

TC5 FFA Arabian Gulf to Japan (WET)

Nov-25

$71.95

$73.71

-2.39%

-$1.76

$73.89

-2.63%

$82.01

-12.27%

 

 

Supramax Timecharter (DRY)

Nov-25

$109.49

$111.21

-1.55%

-$1.73

$109.29

0.18%

$114.03

-3.98%

 

 

Capesize Timecharter (DRY)

Nov-25

$11.03

$11.26

-2.07%

-$0.23

$11.22

-1.69%

$13.28

-16.92%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

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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