Daily Market Report – Mar 24, 2022

For today’s storage report our final projection is -61 Bcf (S/D -61, Flow -66).

The current Bloomberg survey is -59 and Bloomberg whisper is currently at -64 (the whisper is the average of the 17 top analysts).

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

Week 1 is -61 [today’s report]

Week 2 is +20

Week 3 is +33

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

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

Flow model results:

Today’s weather run was bearish (after yesterday’s bullish 00z run) 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  95.2 Bcf/d this morning. Today’s estimated production is +0.13 Bcf/d to yesterday, and +0.36 Bcf/d to the 7D average.

Natural gas consumption is modelled to be 80.6 Bcf today,  -0.19 Bcf/d to yesterday, and +5.23 Bcf/d to the 7D average. US power burns are expected to be 27.6 Bcf today, and US ResComm usage is expected to be 24.5 Bcf. Power burns have been coming in much lower due to the strong wind (ERCOT to the Central regions).

Net LNG deliveries are expected to be 13.5 Bcf today.

Mexican exports are expected to be 6.7 Bcf today, and net Canadian imports are expected to be 5.2 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.