• The EIA announced an injection of 104 Bcf into natural gas storage for the week ending June 2, 2023. The injection was 4 Bcf higher than the 5-year average. Initial reads of the injection were less than market expectations of 114 Bcf but on further analysis the EIA had reclassified 14 Bcf. This created an implied injection of 118 Bcf.
  • Hot weather appears to be on its way for the eastern two-thirds of the nation. European LNG prices are up $1.30/MMBtu this week as Saudi Arabia has announced additional production cuts.