Daily Market Report – June 4, 2020

TS Cristobal brought heavy rains to southern Mexico, and is forecasted to re-enter the GoM on Friday. There are news reports saying oil and gas platforms are starting to be evacuated already. Natgas prices are higher this morning.

The EIA reports natural gas storage inventories for week ending May 29^th. Our projection stands at a + 107 Bcf injection. The current Bloomberg survey and whisper are 111 and 105, respectively. The next couple of reports will be interesting as we see the impacts of Cristobal on production, LNG tanker traffic, and nat gas consumption after it makes landfall.

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