Daily Market Report – January 14, 2021

Today we are expecting -125 Bcf draw. The market expectations are all over the place with a range of -141 to -117. The current Bloomberg Whisper sits at -129.

Here are the current ICE storage future settles as of Jan 13^th.

Week Ending Jan 8 is -129
Week Ending Jan 15 is -175

Week Ending Jan 22 is -155

There current end of Winter (Apr 8^th) is 1550
There current end of Summer (Nov 12^th) is 3500

This is a great graphic from CWG that shows where the cold hits in the 11-15 period.
“Great modeling agreement on a cold Western intrusion at end of month, but disagreement on how much cooling rotates under the Atlantic block into the Eastern U.S”

Today’s Fundamentals

Daily US natural gas production is estimated to be  90.1 Bcf/d this morning. Today’s estimated production is -0.36 Bcf/d to yesterday, and -0.54 Bcf/d to the 7D average.

Natural gas consumption is modelled to be 95.8 Bcf today,  -3.68 Bcf/d to yesterday, and -11.4 Bcf/d to the 7D average. US power burns are expected to be 27.54 Bcf today, and US ResComm usage is expected to be 37.1 Bcf.

Net LNG deliveries are expected to be 10.9 Bcf today.

Mexican exports are expected to be 6.1 Bcf today, and net Canadian imports are expected to be 5.8 Bcf today.

This email, any information contained herein and any files transmitted with it (collectively, the Material) are the sole property of OTC Global Holdings LP and its affiliates (OTCGH); are confidential, may be legally privileged and are intended solely for the use of the individual or entity to whom they are addressed. Unauthorized disclosure, copying or distribution of the Material, is strictly prohibited and the recipient shall not redistribute the Material in any form to a third party. Please notify the sender immediately by email if you have received this email by mistake, delete this email from your system and destroy any hard copies. OTCGH waives no privilege or confidentiality due to any mistaken transmission of this email.