Weekend weather volatility continued today with the GFS Ensemble showing some big moves versus Friday’s 12Z. The Euro Ensemble was more muted in its change, but now the two models are better aligned. The GFS Ensemble lost 30+ HDDs with the holiday week now showing temps well below normal. The first week of Jan is also starting off with a warm note.
Here is how the forecast look vs the 10Y Normal by region.
Today’s Fundamentals
Daily US natural gas production is estimated to be 96.2 Bcf/d this morning. Today’s estimated production is +0.16 Bcf/d to yesterday, and -0.18 Bcf/d to the 7D average.
Natural gas consumption is modelled to be 106.4 Bcf today, +0.39 Bcf/d to yesterday, and +12.28 Bcf/d to the 7D average. US power burns are expected to be 29.6 Bcf today, and US ResComm usage is expected to be 43.6 Bcf.
Net LNG deliveries are expected to be 13 Bcf today. Sabine deliveries jumped over 5 Bcf/d yesterday as Train 6 gets going.
Mexican exports are expected to be 6 Bcf today, and net Canadian imports are expected to be 5 Bcf today.
The storage outlook for the upcoming report is -59 Bcf today.
This email, any information contained herein and any files transmitted with it (collectively, the Material) are the sole property of OTC Global Holdings LP and its affiliates (OTCGH); are confidential, may be legally privileged and are intended solely for the use of the individual or entity to whom they are addressed. Unauthorized disclosure, copying or distribution of the Material, is strictly prohibited and the recipient shall not redistribute the Material in any form to a third party. Please notify the sender immediately by email if you have received this email by mistake, delete this email from your system and destroy any hard copies. OTCGH waives no privilege or confidentiality due to any mistaken transmission of this email.
ION-Energy-Daily-Report-Dec-20-2021.pdf