The EIA reported an injection of 36 Bcf natural gas into storage for the week ended July 23. The report was bullish relative to analysts’ expectations and historic average.
Today’s Fundamentals
Daily US natural gas production is estimated to be 91.5 Bcf/d this morning. Today’s estimated production is -0.48 Bcf/d to yesterday, and -0.85 Bcf/d to the 7D average.
Natural gas consumption is modelled to be 77.8 Bcf today, -4.4 Bcf/d to yesterday, and -4.17 Bcf/d to the 7D average. US power burns are expected to be 39.4 Bcf today, and US ResComm usage is expected to be 8 Bcf.
Net LNG deliveries are expected to be 10.8 Bcf today.
Mexican exports are expected to be 7.3 Bcf today, and net Canadian imports are expected to be 5.1 Bcf today.
The storage outlook for the upcoming report is +13 Bcf today. We see a net draw out of the South Central due to the hot temps and low wind output. The few Salt facilities we have daily visibility to do show draws.
Pine Prairie -3 Bcf
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ION-Energy-Daily-Report-July-30-2021.pdf