Production continues to slides. Today production has dropped below 90 Bcf/d, or more than 2 Bcf/d lower than the March Average due a drop in Northeast production. The drop in the region is related to maintenance on Columbia Gas Pipe.
Weather was bearish over night with both the Euro Ensemble (-5.5 TDDs) and GFS Ensemble (-4.0 TDDs) losing TDDs vs yesterday 12z forecast.
Today’s Fundamentals
Daily US natural gas production is estimated to be 89.8 Bcf/d this morning. Today’s estimated production is -1.47 Bcf/d to yesterday, and -1.38 Bcf/d to the 7D average.
Natural gas consumption is modelled to be 70.3 Bcf today, +1.22 Bcf/d to yesterday, and +5.16 Bcf/d to the 7D average. US power burns are expected to be 25.24 Bcf today, and US ResComm usage is expected to be 19.1 Bcf.
Net LNG deliveries are expected to be 11.4 Bcf today.
Mexican exports are expected to be 7.2 Bcf today, and net Canadian imports are expected to be 4.3 Bcf today.
The storage outlook for the upcoming report is +69 Bcf today.
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ION-Energy-Daily-Report-Apr-13-2021.pdf