December 29, 2020

Dear , Please find below the link to this week's detailed inventory forecast, our 4-wk storage outlook, along with natural gas trade and power sector demand estimates and highlights of reference week balances. This week's commentary discusses the market dynamics leading to last week's large withdrawal from Western Canadian inventories and how that trend is likely to continue. For the week ending December 24, 2020, LCMC 4-wk NG storage estimate: -121, -149, -117, -137. Total -524 vs -323 LY and -.....

CFTC COT | December 29, 2020

December 29, 2020

Please find below the links to data and charts detailing the latest CFTC Commitments of Traders Report for the week ended December 22. We provide all Legacy and Disaggregated trader positions for natural gas, WTI, Brent, gasoline, heating oil and gasoil. Non-commercials increased net length in WTI, Brent, gasoline and gasoil , but decreased in natural gas and heating oil during the reference week. Non-commercials net length in natural gas decreased by -3.5k to +305.8k in futures and declined by .....

NORTH AMERICAN RIG WATCH | December 24, 2020

December 24, 2020

Please find below the links to this week's detailed rig reports and a quick recap of the North American oil and gas drilling activity as reported by Baker Hughes. US: Baker Hughes shows 347 active rigs as of December 23, 2020, higher by +3 from the previous week. Oil rigs increased by +1 to 264 (ht: unch; vt-dir: +1), and gas-directed rigs increased by +2 to 83 (ht: +2; vt-dir: unch). Horizontal oil rigs increased by +1 in Anadarko (OK) and by +1 in Permian (TX), while declining by -1 in Perm.....

EIA NG STORAGE REPORT | December 23, 2020

December 23, 2020

Dear , The EIA reported a -152 bcf withdrawal, 4 bcf less than our call of -156 bcf and 11 bcf below the Bloomberg median of -163 bcf. The sum of our East and Midwest was quite close, with remaining regions off by small amounts. To our surprise, Y/Y surpluses in the East and Midwest have remained relatively stable since mid-November at 38 bcf and 76 bcf, respectively. We had previously noted that the final two weeks of December were going to be important for two reasons: First, it was going to p.....

NGL MARKET RECAP | December 23, 2020

December 23, 2020

Dear , Please find below the link to this week’s NGL Market Recap, which provides an overview of North American NGL statistics as well as global LPG prices, spreads/arbitrages and ratios. Note: Data and charts of the Mont Belvieu non-LST to FEI, Propane Arbitrage and Butane Arbitrage are not available today, due to an issue with our data provider.

SPECTRUM | December 22, 2020

December 22, 2020

Dear , Please find below the link to this week's detailed inventory forecast, our 4-wk storage outlook, along with natural gas trade and power sector demand estimates and highlights of reference week balances. This week's commentary discusses the changing relationship of the Rockies Express Pipeline with Pacific and Midwest markets as well as the recently completed Cheyenne Hub Enhancement Project. For the week ending December 17, 2020, LCMC 4-wk NG storage estimate: -156, -141, -183, -211. Tota.....

CFTC COT | December 18, 2020

December 18, 2020

Please find below the links to data and charts detailing the latest CFTC Commitments of Traders Report for the week ended December 15. We provide all Legacy and Disaggregated trader positions for natural gas, WTI, Brent, gasoline, heating oil and gasoil. Non-commercials increased net length in natural gas, WTI, Brent, gasoline and gasoil , but decreased in heating oil during the reference week. Non-commercials net length in natural gas rose by +35.3k to +309.3k in futures and increased by +34.9k.....

NORTH AMERICAN RIG WATCH | December 18, 2020

December 18, 2020

Please find below the links to this week's detailed rig reports and a quick recap of the North American oil and gas drilling activity as reported by Baker Hughes. US: Baker Hughes shows 344 active rigs as of December 18, 2020, higher by +7 from the previous week. Oil rigs increased by +5 to 263 (ht: -1; vt-dir: +6), and gas-directed rigs increased by +2 to 81 (ht: +2; vt-dir: unch). Horizontal oil rigs increased by +4 in Permian (NM), while declining by -1 in Anadarko (OK), by -1 in Eagle For.....

EIA NG STORAGE REPORT | December 17, 2020

December 17, 2020

Dear , The EIA reported a -122 bcf build for the reference week , 6 bcf less than our call of -128 bcf and equal to the Bloomberg median of -122 bcf. The recent tightness suggests that the step-down in storage withdrawals may have shown up at a lower temperature threshold than in previous seasons, and if so,would imply further tightness in the market relative to this season’s trendline through the colder months of the winter. Our models are currently showing activity of: -153, -147, -175, -197 b.....

NGL MARKET RECAP | December 16, 2020

December 16, 2020

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