• A very flat week for the natural gas commodity with the 12-month average price only gaining $.04/MMBtu since last week. During the week it appeared that after last week's disappointing storage injection, the market was poised to move higher. By the market close last night, the June contract was within pennies (+$.03/MMBtu). Continued moderate weather was cited as the reason.
  • As noted before, the natural gas market is waiting for the heat and lower natural gas production. There isn't any real cooling demand in the outlook yet. NOAA is projecting warmer-than-normal weather for mainly the North for early June. If the weather projection was flipped from cooler to warmer in the South, the market might have reason to move.
  • On the production side, the market was looking to the storage report for guidance. Today, the EIA announced an injection of 96 Bcf. The injection was equal to the five-year average and 4 Bcf below expectations. So the report is mainly neutral, and the natural gas commodity market will likely remain flat for another week.