Daily Market Report – Jan 27, 2022

For today’s storage report our final projection is -220 Bcf (S/D -220, Flow -209)

The current Bloomberg survey is -215 and Bloomberg whisper is currently at -217 (the whisper is the average of the 17 top analysts).

Here are the current ICE storage future settles as of yesterday.

Week 1 is -215 [today’s report]

Week 2 is -270

Week 3 is -200

There current end of Winter 2021/22 (Apr 8^th) is 1440. [Last week was 1460]

There current end of Summer 2022 (Nov 10^th) is 3600. [Last week was 3600]

Today’s weather runs showed the GFS Ensemble adding HDDs in the 8-15 day range, while the Euro Ensemble was somewhat neutral.  Both models are point to mainly cooler than normal temps across the next 15 days, with some moderation towards the end.

Today’s Fundamentals

Daily US natural gas production is estimated to be  94.4 Bcf/d this morning. Today’s estimated production is -0.57 Bcf/d to yesterday, and -0.13 Bcf/d to the 7D average.

Natural gas consumption is modelled to be 114.6 Bcf today,  -9.23 Bcf/d to yesterday, and -6.34 Bcf/d to the 7D average. US power burns are expected to be 30.5 Bcf today, and US ResComm usage is expected to be 50.5 Bcf.

Net LNG deliveries are expected to be 13 Bcf today.

Mexican exports are expected to be 6 Bcf today, and net Canadian imports are expected to be 6.4 Bcf today.

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