• While warmer weather is anticipated, the outlook for the next two weeks has cooled from earlier projections.
  • As natural gas production declined, the natural gas storage surplus relative to the five-year average has fallen for the last 5 weeks.
  • Gains in natural gas commodity production have outpaced the increases in LNG exports and the hot weather that has not yet hit sustainably has reduced pressure on prices and prices themselves.
  • New England's natural gas transportation basis, while higher than last month, has dropped $0.10/MMBtu this past week.