Overnight runs once again pointing to less cool weather. Both the GFS Ensemble and Euro Ensemble showed a massive drop in GWHDDs in the 6-10.
Temps are still expected to be cooler than normal over the forecast period, but both model revert back to the 10Y in the back end of the forecast window. The big thing noticed in today’s Euro Ensemble run is the intensity of cold has disappeared for the Feb 13-15.
Today’s Fundamentals
Daily US natural gas production is estimated to be 89.4 Bcf/d this morning. Today’s estimated production is -1.64 Bcf/d to yesterday, and -2.49 Bcf/d to the 7D average.
Natural gas consumption is modelled to be 112.9 Bcf today, +0.14 Bcf/d to yesterday, and +3.34 Bcf/d to the 7D average. US power burns are expected to be 29.74 Bcf today, and US ResComm usage is expected to be 50.7 Bcf.
Net LNG deliveries are expected to be 10.3 Bcf today.
Mexican exports are expected to be 6.6 Bcf today, and net Canadian imports are expected to be 6.7 Bcf today.
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ION-Energy-Daily-Report-Feb-10-2021.pdf