This morning’s 00z runs added some cooler weather to the back of the forecast. The latest run shows both the GFS Ensemble and Euro Ensemble shifting cooler than normal in the 11-15 period. That being said, November as a whole is expected to finished right between the 10Y and 30Y normal.
The expectations for December are still that of a classic La NiNa pattern where the Northern tier remains cools. Here is the latest outlook from Maxar.
Today’s Fundamentals
Daily US natural gas production is estimated to be 94.9 Bcf/d this morning. Today’s estimated production is -0.16 Bcf/d to yesterday, and -0.4 Bcf/d to the 7D average.
Natural gas consumption is modelled to be 85.7 Bcf today, -4.19 Bcf/d to yesterday, and +1.58 Bcf/d to the 7D average. US power burns are expected to be 27.9 Bcf today, and US ResComm usage is expected to be 26.5 Bcf.
Net LNG deliveries are expected to be 11 Bcf today.
Mexican exports are expected to be 6.2 Bcf today, and net Canadian imports are expected to be 5 Bcf today.
The storage outlook for the upcoming report is +29 Bcf today.
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ION-Energy-Daily-Report-Nov-16-2021.pdf