Daily Market Report – January 28, 2021

For today’s report we are expecting -135 Bcf draw. The market expectations are between all over the place with a range of -145 to -121. The current Bloomberg Whisper sits at -137.

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

Week Ending Jan 22 is -135
Week Ending Jan 29 is -195

Week Ending Feb 5 is -142

There current end of Winter (Apr 8^th) is 1615 [was 1630 last week]
There current end of Summer (Nov 12^th) is 3500. [was 3490 last week]

This morning natural gas prices are lower with the Euro Ensembles losing HDDs and breaking away from the GFS Ensemble. The 00z Euro Ensemble lost 10+ HDDs, while the GFS Ensemble gained 7 HDDs.

The current 15D look

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.

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