Daily Market Report – June 07, 2021

Today’s Fundamentals

Daily US natural gas production is estimated to be  91.5 Bcf/d this morning. Today’s estimated production is -0.56 Bcf/d to yesterday, and -0.6 Bcf/d to the 7D average.

Natural gas consumption is modelled to be 70.1 Bcf today,  -0.14 Bcf/d to yesterday, and +3.91 Bcf/d to the 7D average. US power burns are expected to be 32.7 Bcf today, and US ResComm usage is expected to be 8.7 Bcf.

Net LNG deliveries are expected to be 9.6 Bcf today. This weekend we saw LNG feedgas deliveries move lower with both Freeport and Corpus Christi LNG taking less volume. These facilities have shown variability in load over the past week.

Mexican exports are expected to be 7.4 Bcf today, and net Canadian imports are expected to be 4.2 Bcf today. Mexican exports got close to the record high (April 14^th) last week with total deliveries hitting 7.6 Bcf/d on June 2^nd. Peak summer temperatures in July and August should drive flows into Mexico even higher on peak summer days.

The storage outlook for the upcoming report is +98 Bcf today.                                                                                                                                                                                                    

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