Sent: Tuesday, April 14, 2020 7:09:29 AM (UTC-06:00) Central Time (US & Canada)
Subject: Daily Market Report – April 14, 2020
Both the GFS Ensemble and ECMWF Ensemble continue to show cooler than normal weather for the next week, after which both trend towards the 10Y normal.
According to Maxar Weather Desk, this April is set to be slightly cooler than the 30 year normal with the current forecast and normal beyond that. This is similar to April is 2011 and 2013.
For week ending April 10, we are projecting a 62 Bcf storage injection. With dropping demand across the country, the last couple of storage estimates have be been more bearish than consensus. This week the Bloomberg survey currently stands at 65 Bcf.
Daily US natural gas production is estimated to be 91.7 Bcf/d this morning. Today’s estimated production is -0.03 Bcf/d lower than yesterday, and +0.28 higher than the 7D average.
Natural gas consumption is modelled to be 86.6 Bcf today, +5.9 Bcf higher than yesterday and +8.3 Bcf higher than the 7D average. US power burns are expected to be 27.6 Bcf today, and US ResComm usage is expected to be 28.3 Bcf.
Net LNG deliveries are expected to be 8.7 Bcf/d today.
Mexican exports are 4.9 Bcf/d. Canadian imports dropped to 5.0 Bcf/d.
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