Daily Market Report – January 7, 2021

Today we are expecting -127 Bcf draw. The market expectations are all over the place with a range of -120 to -158. The current Bloomberg Whisper sits at -131.

Here are the current ICE storage future settles as of Jan 6^th.

Week Ending Jan 1 is -130
Week Ending Jan 8 is -120

Week Ending Jan 15 is -125

There current end of Winter (Apr 8^th) is 1560
There current end of Summer (Nov 12^th) is 3530

Today’s Fundamentals

Daily US natural gas production is estimated to be  91.4 Bcf/d this morning. Today’s estimated production is -0.66 Bcf/d to yesterday, and -0.09 Bcf/d to the 7D average.

Natural gas consumption is modelled to be 91.8 Bcf today,  -3.89 Bcf/d to yesterday, and -5.43 Bcf/d to the 7D average. US power burns are expected to be 31.64 Bcf today, and US ResComm usage is expected to be 41.9 Bcf.

Net LNG deliveries are expected to be 11 Bcf today.

Mexican exports are expected to be 6.5 Bcf today, and net Canadian imports are expected to be 6 Bcf today.

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