Weather runs were overall bearish from Friday’s 12Z run. Below is the change from Friday’s 12z which shows both models making the same directional move.
Here is a look the latest outlook, which shows the 1-5 day well below normal and then temps that hover close to normal beyond that. The Mountain, Midwest, and East regions look to be much warmer than normal in the short-term.
Today’s Fundamentals
Daily US natural gas production is estimated to be 95.2 Bcf/d this morning. Today’s estimated production is +0.28 Bcf/d to yesterday, and +1.02 Bcf/d to the 7D average. Over the weekend, we saw production volumes from the SC recover significantly.
Natural gas consumption is modelled to be 73.5 Bcf today, -0.48 Bcf/d to yesterday, and -0.44 Bcf/d to the 7D average. US power burns are expected to be 25.4 Bcf today, and US ResComm usage is expected to be 21.8 Bcf.
Net LNG deliveries are expected to be 13.5 Bcf today. LNG deliveries were quite strong over the weekend, and hit an all-time high of 13.8 Bcf/d on Mar 19th. Every facilities looks to firing a full capacity as we exit winter.
Mexican exports are expected to be 6.3 Bcf today, and net Canadian imports are expected to be 4.6 Bcf today.
The storage outlook for the upcoming report is -60 Bcf today.
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ION-Energy-Daily-Report-Mar-21-2022.pdf