Daily Market Report – Nov 18, 2021

For today’s storage report our final projection is +29 Bcf.

The current Bloomberg survey is +25 and Bloomberg whisper is currently at +21 (the whisper is the average of the 17 top analysts).

Here are the current ICE storage future settles as of yesterday.

Week 1 is +22 [today’s report]

Week 2 is -23

Week 3 is -55

There current end of Summer 2021 (Nov 12^th) is 3600. [Last week was 3620]
There current end of Winter 2021/22 (Apr 8^th) is 1435. [Last week was 1430]

Today’s Fundamentals

Daily US natural gas production is estimated to be  95.4 Bcf/d this morning. Today’s estimated production is -0.15 Bcf/d to yesterday, and -1.21 Bcf/d to the 7D average.

Natural gas consumption is modelled to be 84.1 Bcf today,  +1.83 Bcf/d to yesterday, and -3.57 Bcf/d to the 7D average. US power burns are expected to be 27.2 Bcf today, and US ResComm usage is expected to be 25 Bcf. Past today, consumption should pick back up with the warmer weather ending and forecasts heading back to more normal levels for the rest of the month.

Net LNG deliveries are expected to be 11.9 Bcf today. Freeport is showing noms of 2 Bcf/d today, and Sabine moves back to 4.3 Bcf/d. If today’s nomination data is realized, it indicates that all major terminals are operating at above 90% of their historical peak levels.

Mexican exports are expected to be 6.1 Bcf today, and net Canadian imports are expected to be 4.5 Bcf today.

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