Today’s Fundamentals
Daily US natural gas production is estimated to be 94.2 Bcf/d this morning, which is the lowest level we have observed since early March. Today’s estimated production is -2.15 Bcf/d to yesterday, and -2.64 Bcf/d to the 7D average. Production dropped significantly day-on-day in multiple regions spanning the Bakken, South Central, and Northeast. The drop seems to be associated with cooler temps and heavy rains across the Northern Plains, Eastern TX, and much of the Northeast.
Natural gas consumption is modelled to be 76 Bcf today, +1.76 Bcf/d to yesterday, and +4.77 Bcf/d to the 7D average. US power burns are expected to be 28.1 Bcf today, and US ResComm usage is expected to be 19.4 Bcf.
Net LNG deliveries are expected to be 12.6 Bcf today.
Mexican exports are expected to be 7 Bcf today, and net Canadian imports are expected to be 6.6 Bcf today.
The storage outlook for the upcoming report is +35 Bcf today.
For week ending Apr 2th, our S/D storage model is pointing to a +35 Bcf injection while our flow model points to a slightly higher draw of +40 Bcf. Below is the regional break down of the flow based model + the week storage activity at the 4 facilities that report on a weekly basis.
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ION-Energy-Daily-Report-Apr-26-2022.pdf