Weather runs were overall bearish from Friday’s 12Z run. Below is the change from Friday’s 12z which shows both models losing GWHDDs. The GFS Ensemble made a significant move warmer.
Here is a look the latest outlook, which shows both models forecasting significantly warmer than normal temps.
Today’s Fundamentals
Daily US natural gas production is estimated to be 93.6 Bcf/d this morning. Today’s estimated production is +0.11 Bcf/d to yesterday, and -0.26 Bcf/d to the 7D average. With temps above-normal going forward, we expect any production volumes that had come due to freeze-offs to quickly come back over the this coming week. We could see production volumes rise by 2 Bcf/d over the next week.
Natural gas consumption is modelled to be 85.1 Bcf today, -11.5 Bcf/d to yesterday, and -15.06 Bcf/d to the 7D average. US power burns are expected to be 27.2 Bcf today, and US ResComm usage is expected to be 30.5 Bcf.
Net LNG deliveries are expected to be 13 Bcf today. Total LNG deliveries jumped to an all-time high of 13.5 Bcf/d on Saturday with the full return of Corpus Christie.
Mexican exports are expected to be 6.4 Bcf today, and net Canadian imports are expected to be 5.5 Bcf today.
The storage outlook for the upcoming report is -71 Bcf today.
This email, any information contained herein and any files transmitted with it (collectively, the Material) are the sole property of OTC Global Holdings LP and its affiliates (OTCGH); are confidential, may be legally privileged and are intended solely for the use of the individual or entity to whom they are addressed. Unauthorized disclosure, copying or distribution of the Material, is strictly prohibited and the recipient shall not redistribute the Material in any form to a third party. Please notify the sender immediately by email if you have received this email by mistake, delete this email from your system and destroy any hard copies. OTCGH waives no privilege or confidentiality due to any mistaken transmission of this email.
ION-Energy-Daily-Report-Mar-14-2022.pdf