Daily Market Report – July 21, 2022

For today’s storage report our final projection is +43 Bcf (average of our S/D @ +45 and our Flow +42).

This is the results of our flow estimate.

The current Bloomberg survey is +43 and Bloomberg whisper is currently at +41(the whisper is the average of the 17 top analysts).

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

Week 1 is +32 [today’s report]

Week 2 is +33

Week 3 is +45

There current end of Summer 2022 (Nov 10^th) is 3500. [Last week was 3550]
There current end of Winter 2022/23 (Apr 13^th) is 1475. [no OI]

Today’s Fundamentals

Daily US natural gas production is estimated to be  96.3 Bcf/d this morning. Today’s estimated production is -0.12 Bcf/d to yesterday, and -0.75 Bcf/d to the 7D average.

Natural gas consumption is modelled to be 83.7 Bcf today,  -1.91 Bcf/d to yesterday, and +1.22 Bcf/d to the 7D average. US power burns are expected to be 45.7 Bcf today, which fall off the record high of 47.1 Bcf yesterday.

Net LNG deliveries are expected to be 11 Bcf today. Sabine Pass nomination show the plant receiving 4.4 Bcf/d today, which is much higher than the weekend levels.

Mexican exports are expected to be 7.1 Bcf today, and net Canadian imports are expected to be 6.6 Bcf today.

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