The EIA reported an injection of 49 Bcf natural gas into storage for the week ended July 16. The report was bearish relative to analysts’ expectations and historic averages, and initially it did send natural gas prices lower. By late day we did see the August contract cross $4.

Today’s Fundamentals

Daily US natural gas production is estimated to be  91.5 Bcf/d this morning. Today’s estimated production is -0.57 Bcf/d to yesterday, and -0.61 Bcf/d to the 7D average.

Natural gas consumption is modelled to be 72.8 Bcf today,  -1.76 Bcf/d to yesterday, and -1.93 Bcf/d to the 7D average. US power burns are expected to be 38.7 Bcf today, and US ResComm usage is expected to be 7.8 Bcf.

Net LNG deliveries are expected to be 10.1 Bcf today.

Mexican exports are expected to be 7.4 Bcf today, and net Canadian imports are expected to be 5 Bcf today.

The storage outlook for the upcoming report is +39 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.