Daily Market Report – Mar 17, 2022

For today’s storage report our final projection is -74 Bcf (S/D -74, Flow -69).

The current Bloomberg survey is -74 and Bloomberg whisper is currently at -73 (the whisper is the average of the 17 top analysts).

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

Week 1 is -72 [today’s report]

Week 2 is -23

Week 3 is +8

There current end of Winter 2021/22 (Apr 8^th) is 1434. [Last week was 1390]

There current end of Summer 2022 (Nov 10^th) is 3550. [Last week was 3550]

Flow model results:

Today’s weather run was somewhat bullish. Below is the 24Hr change, and the current forecast vs 10Yr normal.

Today’s Fundamentals

Daily US natural gas production is estimated to be  94.3 Bcf/d this morning. Today’s estimated production is +0.11 Bcf/d to yesterday, and +0.67 Bcf/d to the 7D average. The production gains this week have all been in the SC regions, with still no return in the NE.

Natural gas consumption is modelled to be 74.4 Bcf today,  +0.09 Bcf/d to yesterday, and -15.89 Bcf/d to the 7D average. US power burns are expected to be 25.5 Bcf today, and US ResComm usage is expected to be 21.1 Bcf.

Net LNG deliveries are expected to be 13 Bcf today. Corpus Christie nomination show it having 2 Bcf/d delivered today once again.

Mexican exports are expected to be 6.6 Bcf today, and net Canadian imports are expected to be 4.8 Bcf today.

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