Daily Market Report – Dec 24, 2021

NOTE: Today will be the last report of the year. The next report will be on Tuesday Jan 4^th.

The EIA reported a mostly on-target withdrawal from underground storage, a 55 Bcf pull for the week ending Dec 17 that had little immediate impact on prices. The report did manage to flip the deficit to the five-year average to a 34 Bcf surplus, which hasn’t been seen since April 16.

Today’s Fundamentals

Daily US natural gas production is estimated to be  97.6 Bcf/d this morning. Today’s estimated production is +0.73 Bcf/d to yesterday, and +1.07 Bcf/d to the 7D average.

Natural gas consumption is modelled to be 90.2 Bcf today,  -9.86 Bcf/d to yesterday, and -13.92 Bcf/d to the 7D average. US power burns are expected to be 25.3 Bcf today, and US ResComm usage is expected to be 31.3 Bcf.

Net LNG deliveries are expected to be 12.5 Bcf today.

Mexican exports are expected to be 5.7 Bcf today, and net Canadian imports are expected to be 4.2 Bcf today.

The storage outlook for the upcoming report is -132 Bcf today.

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