Tropical Storm Grace is east of Jamaica, and the latest forecast from the NOAA shows its path is towards the Yucatan Peninsula of Mexico by the end of this week. If this path holds there should be minimal impact to offshore production and LNG operations – hence neither bullish nor bearish.
Today’s Fundamentals
Daily US natural gas production is estimated to be 89.7 Bcf/d this morning. Today’s estimated production is -1.24 Bcf/d to yesterday, and -2.49 Bcf/d to the 7D average.
Natural gas consumption is modelled to be 73.4 Bcf today, -1.64 Bcf/d to yesterday, and -2.98 Bcf/d to the 7D average. US power burns are expected to be 37.4 Bcf today, and US ResComm usage is expected to be 7.6 Bcf.
Net LNG deliveries are expected to be 10.9 Bcf today.
Mexican exports are expected to be 5.5 Bcf today, and net Canadian imports are expected to be 4.6 Bcf today.
The storage outlook for the upcoming report is +36 Bcf today.
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ION-Energy-Daily-Report-Aug-17-2021.pdf