Daily Market Report – January 22, 2021

For today’s report we are expecting -184 Bcf draw. The market expectations are between all over the place with a range of -195 to -158. The current Bloomberg Whisper sits at -177.

Here are the current ICE storage future settles as of Jan 21^th.

Week Ending Jan 15 is -185
Week Ending Jan 22 is -140

Week Ending Jan 29 is -126

There current end of Winter (Apr 8^th) is 1630 [was 1550 last week]
There current end of Summer (Nov 12^th) is 3490. [was 3500 last week]

This morning natural gas prices continue to be under pressure as it dipped to a low of 2.42. The 00z weather forecast was once again bearish with no cool temps in sight for the beginning of Feb.

Today’s Fundamentals

Daily US natural gas production is estimated to be  90.6 Bcf/d this morning. Today’s estimated production is -0.15 Bcf/d to yesterday, and -0.15 Bcf/d to the 7D average.

Natural gas consumption is modelled to be 96.4 Bcf today,  0 Bcf/d to yesterday, and -3.13 Bcf/d to the 7D average. US power burns are expected to be 25.74 Bcf today, and US ResComm usage is expected to be 38.8 Bcf.

Net LNG deliveries are expected to be 9.1 Bcf today.

Mexican exports are expected to be 6.7 Bcf today, and net Canadian imports are expected to be 6.2 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.