The ECMWF Ensemble shifted cooler this morning over the 6-10 and 11-15 periods. In all, the 15 day window lost 10.2 CDDs. The two models, the ECMWF Ensemble and the GFS Ensemble, are aligned for the next 10 days. The first couple of days of August now fall below the 10Y normal. This is something we did not see throughout the month of July.
Today’s Fundamentals:
Daily US natural gas production is estimated to be 84.5 Bcf/d this morning. Today’s estimated production is -1.17 Bcf/d to yesterday, and -1.62 Bcf/d to the 7D average.
Natural gas consumption is modelled to be 77.5 Bcf today, -3.11 Bcf/d to yesterday, and +0.45 Bcf/d to the 7D average. US power burns are expected to be 44.84 Bcf today, and US ResComm usage is expected to be 7.9 Bcf.
Net LNG deliveries are expected to be 44.8 Bcf today.
Mexican exports are expected to be 6.1 Bcf today, and net Canadian imports are expected to be 4.7 Bcf today.
Bloomberg IM: Het Shah
enelyst DM: @het.co
Tel: 917-975-2960
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ION-Energy-Daily-Report-July-29-2020.pdf