Today’s 00z model was cooler compared to 24 hours ago, and the majority of the cooling was focused in the South Central.
For the L48, the GFS Ensemble showed a gain of 15 HDDs and the Euro Ensemble showed a gain of 5 HDDs.
For the South Central, the changes were a lot larger. The GFS Ensemble showed a gain of 36 HDDs and the Euro Ensemble showed a gain of 24 HDDs. See the graphic below.
Despite the big change in the temps, the South Central is now just hovering around the 10Y N. So this change was not much of a demand creator.
Today’s Fundamentals
Daily US natural gas production is estimated to be 90.5 Bcf/d this morning. Today’s estimated production is 0 Bcf/d to yesterday, and -0.49 Bcf/d to the 7D average.
Natural gas consumption is modelled to be 108.4 Bcf today, +2.4 Bcf/d to yesterday, and +4.31 Bcf/d to the 7D average. US power burns are expected to be 29.64 Bcf today, and US ResComm usage is expected to be 45.3 Bcf.
Net LNG deliveries are expected to be 11.2 Bcf today.
Mexican exports are expected to be 6.9 Bcf today, and net Canadian imports are expected to be 6.3 Bcf today.
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ION-Energy-Daily-Report-Jan-27-2021.pdf