• Mild weather is expected through mid-May mitigating the impact of production cuts. The June - August seasonal outlook has gotten warmer. NOAA is now projecting the Summer of 2024 to become one of the top 10 hottest summers.
  • The natural gas surplus relative to the five-year average fell over the last few weeks but the recent injection was lower than market expectations.
  • The natural gas commodity market is looking towards the summer. Even with the large natural gas surplus, some firming of prices may occur due to the anticipated summer heat and production cuts.
  • LNG exports are steady for now but there is a lot of potential volatility in European LNG prices as world events evolve.