The GFS Ensemble and Euro Ensemble are lined up for the first half of the 15 day outlook, after which the GFS Ensemble shows a lot more heat. Both models do show more heat than the 10Y normal, but the GFS Ensemble shows a very strong start to July. The extreme heat is still focussed on the Pacific and Mountain regions where strong cash prices continue due too low hydro levels.
Today’s Fundamentals
Daily US natural gas production is estimated to be 91.7 Bcf/d this morning. Today’s estimated production is -1.2 Bcf/d to yesterday, and -0.42 Bcf/d to the 7D average.
Natural gas consumption is modelled to be 72.7 Bcf today, -0.27 Bcf/d to yesterday, and -0.14 Bcf/d to the 7D average. US power burns are expected to be 35.3 Bcf today, and US ResComm usage is expected to be 8.2 Bcf.
Net LNG deliveries are expected to be 10.3 Bcf today.
Mexican exports are expected to be 7.1 Bcf today, and net Canadian imports are expected to be 4.8 Bcf today.
The storage outlook for the upcoming report is +56 Bcf today.
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ION-Energy-Daily-Report-June-21-2021.pdf