The prompt-month contract dropped on open yesterday with some cooler weather coming in towards the end of this week. That being said, its remains well above the 10Y normal for amnay parts of the country over the next 15 days. The early-season heat wave will continue most of the week, expanding from the Plains into the Midwest and Southeast. The warm lows will provide little relief from the heat
Today’s Fundamentals
Daily US natural gas production is estimated to be 96.4 Bcf/d this morning. Today’s estimated production is +0.58 Bcf/d to yesterday, and -0.08 Bcf/d to the 7D average.
Natural gas consumption is modelled to be 75.9 Bcf today, +2.58 Bcf/d to yesterday, and +2.83 Bcf/d to the 7D average. US power burns are expected to be 35.8 Bcf today, and US ResComm usage is expected to be 8.4 Bcf.
Net LNG deliveries are expected to be 10 Bcf today.
Mexican exports are expected to be 7.1 Bcf today, and net Canadian imports are expected to be 5.9 Bcf today.
The storage outlook for the upcoming report is +87 Bcf today.
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NatGas-Daily-Report-June-13-2022.pdf