From: research
Sent: Wednesday, June 03, 2020 7:12:35 AM (UTC-06:00) Central Time (US & Canada)
To: research
Subject: Daily Market Report – June 3, 2020
Our storage estimate for week ending May 29 is 107 Bcf injection. The balances week on week look quite similar with some RC and Industrial demand turning to power gas consumption. This is typical for the end of May as CDDs start to pile on across the L48.
Dominion reported a 12 Bcf injection for the week ending May 29, which was 1.6 Bcf higher than the five-year average build. TCO rose almost exactly in-line with the historical average for the week, with total injections amounting to 8.25 Bcf for the week ending May 29.
Today’s Fundamentals:
Daily US natural gas production is estimated to be 83.4 Bcf/d this morning. Today’s estimated production is -0.6 Bcf/d to yesterday, and -0.95 Bcf/d to the 7D average.
Natural gas consumption is modelled to be 66.9 Bcf today, +0.52 Bcf compared to yesterday and +2.46 Bcf to the 7D average. US power burns are expected to be 34.2 Bcf today, and US ResComm usage is expected to be 7.6 Bcf.
Net LNG deliveries are expected to be 4.3 Bcf/d today.
Mexican exports are 5.4 Bcf/d. Net Canadian imports dropped to 4.2 Bcf/d.
Bloomberg IM: Het Shah
enelyst DM: @het.co
Tel: 917-975-2960
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ION-Energy-Daily-Report-June-3-2020.pdf