FW: Daily Market Report – May 27, 2020

Due to the long weekend this week, the EIA has shifted the oil inventory report to tomorrow at 11am EST. The natural gas storage report will remain on schedule for tomorrow at 10:30am EST.

Our estimate for tomorrow is a +110 Bcf injection. The S/D balances shows the L48 was +4.0 Bcf/d looser week-on-week despite production cratering by 2.6 Bcf/d between week ending May 22 and May 15. The looseness comes with more neutral/warmer temps that led to a big drop in rescomm usage. The drop in LNG deliveries also help put more in storage – deliveries were lower by 0.7 Bcf/d during week ending May 22.

In other news, TETCO provided an update on the recent pipeline rupture. They announced that Line 25 (one of three lines) of the southbound path near the Owingsville Compressor Station would return to service on for today’s gas day (GD27). It would initially flow 300 Mmcf/d, and be increased to 600-700 MMcf/d.

Pipeline nomination confirms the flow today with the Owingsville CS flowing at ~350 Mmcf/d today.

Here is the full notice from TETCO which was posted at 1pm yesterday:

30″ Unplanned Outage – Fleming County, KY – Update 5

https://infopost.spectraenergy.com/infopost/TEHome.asp?Pipe=TE

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