CFTC COT | January 15, 2021

January 15, 2021

Please find below the links to data and charts detailing the latest CFTC Commitments of Traders Report for the week ended January 12. We provide all Legacy and Disaggregated trader positions for natural gas, WTI, Brent, gasoline, heating oil and gasoil. Non-commercials increased net length in natural gas, WTI, Brent and gasoline , but decreased in heating oil and gasoil during the reference week. Non-commercials net length in natural gas rose by +37.1k to +321.9k in futures and grew by +32.4k to.....


NORTH AMERICAN RIG WATCH | January 15, 2021

January 15, 2021

Please find below the links to this week's detailed rig reports and a quick recap of the North American oil and gas drilling activity as reported by Baker Hughes. US: Baker Hughes shows 372 active rigs as of January 15, 2021, higher by +13 from the previous week. Oil rigs increased by +12 to 287 (ht: +10; vt-dir: +2), and gas-directed rigs increased by +1 to 85 (ht: +2; vt-dir: -1). Horizontal oil rigs increased by +8 in Permian (TX), by +1 in Anadarko (TX), by +1 in Permian (NM) and by +1 in.....


EIA NG STORAGE REPORT | January 14, 2021

January 14, 2021

Dear , The EIA reported a -134 bcf withdrawal, 6 bcf greater than our call of -128 bcf and 5 bcf greater than the Bloomberg median of -129 bcf. While the impact we attributed to the New Year’s Day holiday effect may have been stronger than what actually materialized, the startup of the 2 bcf/d Permian Highway Pipeline (PHP) on January 1, 2021 represents the largest unknown that may have affected our estimates. With this being said, we are unsure of how much gas PHP has been moving since the star.....


NGL MARKET RECAP | January 13, 2021

January 13, 2021

Dear , Please find below the link to this week’s NGL Market Recap, which provides an overview of North American NGL statistics as well as global LPG prices, spreads/arbitrages and ratios. Note: Data and charts of the Mont Belvieu non-LST to FEI, Propane Arbitrage and Butane Arbitrage are not available today, due to an issue with our data provider.


SPECTRUM | January 12, 2021

January 12, 2021

Dear , Please find below the link to this week's detailed inventory forecast, our 4-wk storage outlook, along with natural gas trade and power sector demand estimates and highlights of reference week balances. This week's commentary discusses the current challenges the Mountain Valley Pipeline faces in achieving an in-service by late 2021. For the week ending January 7, 2021, LCMC 4-wk NG storage estimate: -128, -164, -150, -196. Total -638 vs -512 LY and -648 5-yr avg. This week by region: E: -.....


CFTC COT | January 09, 2021

January 8, 2021

Please find below the links to data and charts detailing the latest CFTC Commitments of Traders Report for the week ended January 05. We provide all Legacy and Disaggregated trader positions for natural gas, WTI, Brent, gasoline, heating oil and gasoil. Non-commercials increased net length in Brent, gasoline and gasoil , but decreased in natural gas, WTI and heating oil during the reference week. Non-commercials net length in natural gas decreased by -23.7k to +284.8k in futures and fell by -18......


NORTH AMERICAN RIG WATCH | January 08, 2021

January 8, 2021

Please find below the links to this week's detailed rig reports and a quick recap of the North American oil and gas drilling activity as reported by Baker Hughes. US: Baker Hughes shows 359 active rigs as of January 08, 2021, higher by +9 from the previous week. Oil rigs increased by +8 to 275 (ht: +6; vt-dir: +2), and gas-directed rigs increased by +1 to 84 (ht: +1; vt-dir: unch). Horizontal oil rigs increased by +2 in Permian (NM), by +1 in Anadarko (OK), by +1 in Monterey (CA) and by +2 in.....


EIA NG STORAGE REPORT | January 07, 2021

January 7, 2021

Dear , The EIA reported a -130 bcf withdrawal, 4 bcf less than our call of -134 bcf and 5 bcf less than the Bloomberg median of -135 bcf. Our miss of the EIA’s total withdrawal and skew of regional estimates can be attributed to the underappreciation of one or multiple of the factors which we shall lay out here, namely, record high flows to South Central from the Northeast on the ‘T’ pipes, record high wind generation in ERCOT, and the ‘holiday effect’ of Christmas and the New Year. After the ne.....


NGL MARKET RECAP | January 06, 2021

January 06, 2021

Dear , Please find below the link to this week’s NGL Market Recap, which provides an overview of North American NGL statistics as well as global LPG prices, spreads/arbitrages and ratios. Note: Data and charts of the Mont Belvieu non-LST to FEI, Propane Arbitrage and Butane Arbitrage are not available today, due to an issue with our data provider.


SPECTRUM | January 05, 2021

January 5, 2021

Dear , Please find below the link to this week's detailed inventory forecast, our 4-wk storage outlook, along with natural gas trade and power sector demand estimates and highlights of reference week balances. This week's commentary discusses the risks to US natural gas exports to Mexico for the remainder of the winter, including seasonal trends and new infrastructure developments expected this quarter. For the week ending December 31, 2020, LCMC 4-wk NG storage estimate: -134, -125, -168, -166......