Today’s Fundamentals

Daily US natural gas production is estimated to be 94.8 Bcf/d this morning. Today’s estimated production is -0.47 Bcf/d to yesterday, and -0.47 Bcf/d to the 7D average. Bloomberg updated their production estimates higher for the last week – specifically in the SC where freeze-off volumes did not return even as temps warmed back up. This week we are seeing lower volumes out of the Appalachian basin as cooler temp cover much of the area.

Natural gas consumption is modelled to be 105.6 Bcf today,  -9.81 Bcf/d to yesterday, and -11.06 Bcf/d to the 7D average. US power burns are expected to be 30.3 Bcf today, and US ResComm usage is expected to be 41.8 Bcf.

Net LNG deliveries are expected to be 12.9 Bcf today. Yesterday there were rumors of Sabine’s T6 firing back up. Today’s nomination data confirms that with Sabine expected to take ~5 Bcf/d of natgas.

Mexican exports are expected to be 6.3 Bcf today, and net Canadian imports are expected to be 6.4 Bcf today. Flows from Canada remain strong across all exit points this year so far.

The storage outlook for the upcoming report is -174 Bcf today.

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