• The 12-month natural gas commodity was up $0.12/MMBtu this week.
  • NOAA released a forecast for the July - September months that continue to indicate a warmer-than-normal summer which could absorb the gas surplus and push natural gas prices higher. However, meteorologist reports indicate there is an increasing likelihood of an El Nino, which would create a cooler summer.
  • Wholesale electric prices gained nearly $5.00/MWh from last week on higher oil and delivered natural gas prices.
  • 75 Bcf were injected into storage during the week. The injection was 34 Bcf higher than the five-year average and 5 Bcf higher than expectations.