Natgas prices opened the weekend higher with weather shifted cooler. The Euro Ensemble now shows HDDs higher than the 10Y normal to start the month of November.
Today’s Fundamentals
Daily US natural gas production is estimated to be 92.5 Bcf/d this morning. Today’s estimated production is -0.36 Bcf/d to yesterday, and +0.3 Bcf/d to the 7D average.
Natural gas consumption is modelled to be 70 Bcf today, -1.24 Bcf/d to yesterday, and +0.34 Bcf/d to the 7D average. US power burns are expected to be 28.6 Bcf today, and US ResComm usage is expected to be 15.1 Bcf.
Net LNG deliveries are expected to be 11.3 Bcf today. Sabine looks to have returned T3 back to service today with nomination at 3.73 Bcf/d for the terminal.
Mexican exports are expected to be 5.8 Bcf today, and net Canadian imports are expected to be 5.4 Bcf today.
The storage outlook for the upcoming report is +91 Bcf today.
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ION-Energy-Daily-Report-Oct-25-2021.pdf