The GFS Ensemble and Euro Ensemble both showed some additional heat in the overnight runs (Daily change in CDDS seen below). The big changes show up after GD15 which now take the current forecast above the 10Y normal.
Today’s Fundamentals
Daily US natural gas production is estimated to be 90.7 Bcf/d this morning. Today’s estimated production is -1.83 Bcf/d to yesterday, and -1.65 Bcf/d to the 7D average.
Natural gas consumption is modelled to be 72.8 Bcf today, -0.68 Bcf/d to yesterday, and +5.58 Bcf/d to the 7D average. US power burns are expected to be 36.3 Bcf today, and US ResComm usage is expected to be 8.9 Bcf.
Net LNG deliveries are expected to be 8.8 Bcf today. All the major facilities are operating at lower levels.
Mexican exports are expected to be 7.5 Bcf today, and net Canadian imports are expected to be 4.9 Bcf today.
The storage outlook for the upcoming report is +98 Bcf today.
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ION-Energy-Daily-Report-June-08-2021.pdf