The current 00z forecast shows temps jumping in the 6-10 and 11-15 periods. Temperatures have continued to be bullish since the start of July and looks to be continuing into August after a short pause this week.
Despite the warmer than normal temps, most are focused on Tropical Storm Isaias. Isaias is forecast to become a hurricane today as it nears landfall in the Carolinas after producing heavy rains across Florida’s east coast. Power demand is expected to be impacted from the Carolinas to New England this week. Throughout this week, the heavy rain will depress temperatures for tens of millions of Americans, while flash flooding and wind gusts nearing 60 mph could impact power infrastructure.
https://www.nhc.noaa.gov/refresh/graphics_at4+shtml/215355.shtml?inundation
Today’s Fundamentals:
Daily US natural gas production is estimated to be 84.9 Bcf/d this morning. Today’s estimated production is -1.2 Bcf/d to yesterday, and -1 Bcf/d to the 7D average.
Natural gas consumption is modelled to be 73.9 Bcf today, +2.96 Bcf/d to yesterday, and -2.14 Bcf/d to the 7D average. US power burns are expected to be 42.54 Bcf today, and US ResComm usage is expected to be 7 Bcf.
Net LNG deliveries are expected to be 3.9 Bcf today.
Mexican exports are expected to be 6.4 Bcf today, and net Canadian imports are expected to be 4.6 Bcf today.
Bloomberg IM: Het Shah
enelyst DM: @het.co
Tel: 917-975-2960
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ION-Energy-Daily-Report-Aug-3-2020.pdf