Fundamentals for week ending July 17: Our early view for the upcoming storage report is a +40 Bcf injection for the lower 48. This would take storage levels to 3281 Bcf
US natural gas dry production remained flat week on week with domestic production averaging 84.3
Bcf/d for the week. Average weekly production is 0.1 Bcf/d lower than 4 weeks ago.
Natural gas demand continues to rise with July showing extreme heat in many parts of the country. We continue to be on track to close as one of the hottest July on record. Residential and commercial sector consumption seems to have hit a bottom with no real change week-on-week, while power consumption increased by 1.0 Bcf/d to average at 43.0 Bcf/d.
Power Burns the past 90 days
Temperature forecast for the next 2 weeks
Canadian imports were lower last week averaging 4.5 Bcf/d.
Mexican exports averaged of 6.1 Bcf/d.
Deliveries to LNG facilities averaged 3.3 Bcf/d.
Expiration and rolls: UNG ETF roll starts on Aug 13th and ends on Aug 18th.
August futures expire on July 29th, and July options expire on July 28th
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ION-Energy-Weekend-Report-July-19-2020.pdf