Daily Market Report – April 08, 2021

For today’s storage report our S/D model points to a +20 Bcf injection, and our pipe scrape model shows a +21 Bcf injection. Here is the output of our scrape model:

The current Bloomberg survey is +22 and Bloomberg whisper is +21 (the whisper is the average of the 17 top analysts).

Here are the current ICE storage future settles as of Mar 18^th.

Week Ending April 2 is +26

Week Ending April 9 is +37

Week Ending April 16 is +67

There current end of Summer (Nov 12^th) is 3630.

Today’s Fundamentals

Daily US natural gas production is estimated to be  87.8 Bcf/d this morning. Today’s estimated production is -3.47 Bcf/d to yesterday, and -4.43 Bcf/d to the 7D average.

Natural gas consumption is modelled to be 64.5 Bcf today,  +0.13 Bcf/d to yesterday, and -5.78 Bcf/d to the 7D average. US power burns are expected to be 24.54 Bcf today, and US ResComm usage is expected to be 12.9 Bcf.

Net LNG deliveries are expected to be 9.5 Bcf today. Cheniere’s Corpus Christi LNG facility feed gas noms dropped by -2.0 Bcf/d overnight amid a planned annual emergency shut down of the Sinton Compressor Station, which will be down for 8 hours today.

Mexican exports are expected to be 6.8 Bcf today, and net Canadian imports are expected to be 4 Bcf today.

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