Strong winds are expected to continue today after a nor’easter’s heavy rains flooded some areas in the Northeast. Over 500,000 customers lost without electricity Wednesday morning in Massachusetts, Maine, Rhode Island, and New Hampshire, according to PowerOutage.US.
Today’s Fundamentals
Daily US natural gas production is estimated to be 93.5 Bcf/d this morning. Today’s estimated production is -0.37 Bcf/d to yesterday, and +0.8 Bcf/d to the 7D average. Production has seen a large daily jump relative to last week starting Oct 25th. The South Central has seen production move from ~32 Bcf/d to ~33 Bcf/d, while the Northeast has gone up slightly as well. Overall levels are back to that seen in late August.
Natural gas consumption is modelled to be 74.5 Bcf today, -1.14 Bcf/d to yesterday, and +2.79 Bcf/d to the 7D average. US power burns are expected to be 29.1 Bcf today, and US ResComm usage is expected to be 18.3 Bcf.
Net LNG deliveries are expected to be 10.9 Bcf today.
Mexican exports are expected to be 7.4 Bcf today, and net Canadian imports are expected to be 5.3 Bcf today.
The storage outlook for the upcoming report is +91 Bcf today.
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ION-Energy-Daily-Report-Oct-27-2021.pdf