Not much change in weather runs or fundamentals since Friday. The Euro Ensemble short-term outlook is essentially flat, while the GFS Ensemble shows a slight increase in TDDs in the 1-5 and 11-15 day periods. Overall the total consumption outlook remains flat in the short-term before the heat starts in late-May.
Today’s Fundamentals
Daily US natural gas production is estimated to be 89.4 Bcf/d this morning. Today’s estimated production is -0.76 Bcf/d to yesterday, and -1.08 Bcf/d to the 7D average.
Natural gas consumption is modelled to be 68.8 Bcf today, -1.34 Bcf/d to yesterday, and -0.76 Bcf/d to the 7D average. US power burns are expected to be 25.14 Bcf today, and US ResComm usage is expected to be 17.9 Bcf.
Net LNG deliveries are expected to be 11.5 Bcf today.
Mexican exports are expected to be 6.5 Bcf today, and net Canadian imports are expected to be 4.5 Bcf today.
The storage outlook for the upcoming report is +83 Bcf today.
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ION-Energy-Daily-Report-May-10-2021.pdf