Daily Market Report – March 04, 2021

For today’s report we are expecting -142 Bcf draw. The market expectations are all over the place with a range of -162 to -109.

The current Bloomberg survey is  -140.

Here are the current ICE storage future settles as of Mar 3^rd.

Week Ending Feb 26 is -132
Week Ending Mar 5 is -109

Week Ending Mar 12 is -76

There current end of Winter (Apr 8^th) is 1580 [was 1500 last week]
There current end of Summer (Nov 12^th) is 3500. [was 3480 last week]

Today’s Fundamentals

Daily US natural gas production is estimated to be  91.1 Bcf/d this morning. Today’s estimated production is -0.23 Bcf/d to yesterday, and -1.34 Bcf/d to the 7D average.

Natural gas consumption is modelled to be 90.7 Bcf today,  +0.64 Bcf/d to yesterday, and +0.6 Bcf/d to the 7D average. US power burns are expected to be 274 Bcf today, and US ResComm usage is expected to be 34.3 Bcf.

Net LNG deliveries are expected to be 11.1 Bcf today.

Mexican exports are expected to be 6.6 Bcf today, and net Canadian imports are expected to be 5.6 Bcf today.

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