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 next few days above normal at the national level but after that temps hover very close to normal beyond that.
That being said, there is still a lot of extreme weather expected around the country in the short-term. As seen in the latest 3-7 day outlook, there are pockets of extreme heat in the central corridor, extreme cool in the Northeast, and heavy precipitation around the country.
Today’s Fundamentals
Daily US natural gas production is estimated to be 96 Bcf/d this morning. Today’s estimated production is 0 Bcf/d to yesterday, and +0.24 Bcf/d to the 7D average. As we exit winter, production is starting to creep higher.
Natural gas consumption is modelled to be 93.9 Bcf today, +1.75 Bcf/d to yesterday, and +10.36 Bcf/d to the 7D average. US power burns are expected to be 26.6 Bcf today, and US ResComm usage is expected to be 35.8 Bcf.
Net LNG deliveries are expected to be 13.1 Bcf today. LNG deliveries remained strong over the weekend even with Sabine operations once again dipping below 5 Bcf/d.
Mexican exports are expected to be 6.3 Bcf today, and net Canadian imports are expected to be 6.2 Bcf today.
The storage outlook for the upcoming report is +20 Bcf today.
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ION-Energy-Daily-Report-Mar-28-2022.pdf