• While natural gas commodity prices remained fairly flat this past week, natural gas basis prices gained $.50/MMBtu as European LNG prices increased by nearly $4.00/MMBtu.
  • the EIA announced an injection of 84 Bcf into natural gas storage, equal to the five-year average but 10 Bcf less than market expectations.
  • Maintenance on the Norwegian natural gas infrastructure slowed deliveries of LNG into Europe. The maintenance which was supposed to have been concluded on 6/14, has been extended. This slowdown in deliveries is occurring as Europe is experiencing some hot weather.