Daily Market Report – Sept 09, 2021

For today’s storage report our final projection is +48 Bcf  (S/D @ +48, Scrape @ +51).

The current Bloomberg survey is +39 and Bloomberg whisper is currently at +42 (the whisper is the average of the 17 top analysts).

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

Week Ending Sep 3  is +45

Week Ending Sep 10  is +70

Week Ending Sep 17 is +72

There current end of Summer 2021 (Nov 12^th) is 3505. [Last week was 3505]
There current end of Winter 2021/22 (Apr 8^th) is 1445. [Last week was 1445]

Today’s Fundamentals

Daily US natural gas production is estimated to be  89.2 Bcf/d this morning. Today’s estimated production is -1.83 Bcf/d to yesterday, and -1.96 Bcf/d to the 7D average.

Natural gas consumption is modelled to be 69.2 Bcf today,  -1.98 Bcf/d to yesterday, and +1.59 Bcf/d to the 7D average. US power burns are expected to be 34.5 Bcf today, and US ResComm usage is expected to be 7.4 Bcf.

Net LNG deliveries are expected to be 10.3 Bcf today.

Mexican exports are expected to be 6.8 Bcf today, and net Canadian imports are expected to be 5 Bcf today.

The storage outlook for the upcoming report is +48 Bcf today.

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