In mid-May we’ll be coming up to the point where GWHDDs and PWCDDs cross over. Yesterday, we actually temporarily crossed over but the cooler weather for next week that showed up over the weekend is going to push that sustained crossover to mid-month. This is still little earlier than normal but not too far off.
Today’s Fundamentals
Daily US natural gas production is estimated to be 87.9 Bcf/d this morning. Today’s estimated production is -2.29 Bcf/d to yesterday, and -2.29 Bcf/d to the 7D average.
Natural gas consumption is modelled to be 64.9 Bcf today, -1.01 Bcf/d to yesterday, and -0.47 Bcf/d to the 7D average. US power burns are expected to be 27.94 Bcf today, and US ResComm usage is expected to be 11.8 Bcf.
Net LNG deliveries are expected to be 11.5 Bcf today.
Mexican exports are expected to be 6.7 Bcf today, and net Canadian imports are expected to be 4.7 Bcf today.
The storage outlook for the upcoming report is +64 Bcf today.
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ION-Energy-Daily-Report-May-04-2021.pdf