The GFS Ensemble and Euro Ensemble once again showed some additional heat in the overnight runs. Both model show similar trends that take temps well above the 10Y normal for the 15D forecast window. The current weather outlook could set up June to be one of the top 5 hot Junes. The chart below is from Bespoke weather.
July is still expected to have above normal heat in the Midwest, Northeast, and along the Western coast. Here is the currently July CFS outlook map:
Today’s Fundamentals
Daily US natural gas production is estimated to be 90.7 Bcf/d this morning. Today’s estimated production is -0.62 Bcf/d to yesterday, and -1.49 Bcf/d to the 7D average.
Natural gas consumption is modelled to be 72.7 Bcf today, -1.73 Bcf/d to yesterday, and +3.6 Bcf/d to the 7D average. US power burns are expected to be 36.4 Bcf today, and US ResComm usage is expected to be 8.8 Bcf.
Net LNG deliveries are expected to be 8.8 Bcf today.
Mexican exports are expected to be 7.4 Bcf today, and net Canadian imports are expected to be 4.6 Bcf today.
The storage outlook for the upcoming report is +98 Bcf today.
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ION-Energy-Daily-Report-June-09-2021.pdf