The marketed opened significantly lower yesterday with weather runs pointing to a big drop in TDDs (total degree days). The last week of March now sits well below the 10Y normal levels. During this time of the year the TDDs at the national level are still made up primarily of HDDs. Its still early for CDDs to show up in most demand regions, other than the Southern part of the country.
The charts below show today’s 00z run vs Friday’s 12z.
Today’s Fundamentals:
Daily US natural gas production is estimated to be 90.8 Bcf/d this morning. Today’s estimated production is -1.2 Bcf/d to yesterday, and -1.34 Bcf/d to the 7D average.
Natural gas consumption is modelled to be 86.6 Bcf today, +5.59 Bcf/d to yesterday, and +11.28 Bcf/d to the 7D average. US power burns are expected to be 23.24 Bcf today, and US ResComm usage is expected to be 33.8 Bcf.
Net LNG deliveries are expected to be 11.3 Bcf today.
Mexican exports are expected to be 5.9 Bcf today, and net Canadian imports are expected to be 4.9 Bcf today.
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ION-Energy-Daily-Report-Mar-15-2021.pdf