• NOAA’s outlook for the next couple of weeks has reduced some cooling requirements although the central states are projected to remain hot.
  • The natural gas storage surplus continues to narrow with the heat but is expected to survive the summer.
  • Natural gas commodity prices fell this past week on a slightly cooler outlook but still are sustained by the heat.
  • It appears a strike by Australian LNG workers has been averted. European LNG prices fell $3/MMBtu on the news. Longer-term winter supply issues remain if it gets cold this year.