Today’s 00z model again cooled in the 6-10 day period. This drop follows this weekend’s material cooler forecast. Both models are now pointing to cooler than normal forecasts to start August. The 11-15 day period is still a bit tricky though. The GFS Ensemble shows forecast returning back to peak summer temps, while the Euro Ensemble is much lower hovering around the 10Y normal line. See the attached report for the 15 day TDD forecast.
Today’s Fundamentals
Daily US natural gas production is estimated to be 90.7 Bcf/d this morning. Today’s estimated production is -1.52 Bcf/d to yesterday, and -1.49 Bcf/d to the 7D average.
Natural gas consumption is modelled to be 79.2 Bcf today, +0.02 Bcf/d to yesterday, and +3.2 Bcf/d to the 7D average. US power burns are expected to be 43 Bcf today, and US ResComm usage is expected to be 8.3 Bcf.
Net LNG deliveries are expected to be 10.7 Bcf today.
Mexican exports are expected to be 7.2 Bcf today, and net Canadian imports are expected to be 5.7 Bcf today.
The storage outlook for the upcoming report is +41 Bcf today.
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ION-Energy-Daily-Report-July-27-2021.pdf