Daily Market Report – June 10, 2021

For today’s storage report our final projection is +98 Bcf. (S/D @ +98, Scrape @ +98)

The current Bloomberg survey is +99 and Bloomberg whisper is +97 (the whisper is the average of the 17 top analysts).

Here are the current ICE storage future settles as of yesterday.

Week Ending Jun 04 is +95

Week Ending Jun 11 is +75

Week Ending Jun 18 is +65

There current end of Summer 2021 (Nov 12^th) is 3660.
There current end of Winter 2021/22 (Apr 14^th) is 1729. (no open interest)

Today’s Fundamentals

Daily US natural gas production is estimated to be  91.5 Bcf/d this morning. Today’s estimated production is -0.29 Bcf/d to yesterday, and -0.77 Bcf/d to the 7D average.

Natural gas consumption is modelled to be 70.8 Bcf today,  -3.76 Bcf/d to yesterday, and -0.08 Bcf/d to the 7D average. US power burns are expected to be 34.9 Bcf today, and US ResComm usage is expected to be 8.7 Bcf.

Net LNG deliveries are expected to be 9.6 Bcf today.

Mexican exports are expected to be 7.6 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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