Weather turned cooler overnight, with both models showing cooler temps starting this weekend. The GFS Ensemble added 13.5 HDDs, while the Euro Ensemble added 9.4 HDDs. The start of December is now expected to be cooler than the 10Y Normal.
The chart below shows the number of HDDs added to the current 00z forecast vs. Yesterday’s 00z forecast.
Today’s Fundamentals
Daily US natural gas production is estimated to be 92.7 Bcf/d this morning. Today’s estimated production is -0.12 Bcf/d to yesterday, and +0.26 Bcf/d to the 7D average.
Natural gas consumption is modelled to be 86.8 Bcf today, +0.85 Bcf/d to yesterday, and +4.23 Bcf/d to the 7D average. US power burns are expected to be 25.74 Bcf today, and US ResComm usage is expected to be 31.6 Bcf.
Net LNG deliveries are expected to be 10.1 Bcf today.
Mexican exports are expected to be 6.4 Bcf today, and net Canadian imports are expected to be 4.9 Bcf today.
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ION-Energy-Daily-Report-Nov-24-2020.pdf