• The weather map has been volatile. The West is projected to be colder-than-normal, the Central States warmer-than-normal, and the East normal.
  • This past week, the natural gas storage deficit increased by another 120 Bcf, putting more pressure on summer production.
  • Recent warmer weather has allowed natural gas prices to fall, although prices remain high overall.
  • European LNG export demand will remain strong as the European natural gas storage is in a deficit to the five-year average. The warmer weather and lower crude oil prices have reduced European LNG prices by $2/MMBtu this week.
  • Wholesale natural gas transportation (Basis) has dropped significantly due to warmer weather in the U.S. and lower European LNG prices.
  • Wholesale power prices follow movements in the natural gas commodity and natural gas transportation prices.