After the Freeport PR sending prices lower yesterday, we see prices higher this morning on the back of struggling production and a few more CDDs showing next week. Along with South, excessive heat warnings and advisories remain in effect today from Michigan to northern Florida. High temps in those regions are expected to reach into the upper 90s to near 100.
Today’s Fundamentals
Daily US natural gas production is estimated to be 95.8 Bcf/d this morning. Today’s estimated production is +0.49 Bcf/d to yesterday, and -0.34 Bcf/d to the 7D average.
Natural gas consumption is modelled to be 79.2 Bcf today, +1.17 Bcf/d to yesterday, and +5.64 Bcf/d to the 7D average. US power burns are expected to be 41 Bcf today, and US ResComm usage is expected to be 8.9 Bcf.
Net LNG deliveries are expected to be 10.5 Bcf today.
Mexican exports are expected to be 7.4 Bcf today, and net Canadian imports are expected to be 6.1 Bcf today.
For week ending June 10th, our S/D storage model is pointing to a +88 Bcf injection while our flow model is higher with a +86 Bcf. Below is the regional break down of the flow based model + the week storage activity at the 4 facilities that report on a weekly basis.
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NatGas-Daily-Report-June-15-2022.pdf