• The summer is expected to be the 10th warmest on record, compared to the 2nd warmest last year.
  • This is the second week in which injections were greater than 100 Bcf, and the eighth week in a row we've seen an injection. The natural gas storage deficit to the five-year average was erased last week.
  • Natural gas commodity pricing has been up over the past week and a half, but has not reached pricing seen in early April. Pricing has come down today, after the news of an injection.
  • Tariffs continue to be the headline while fears of a recession are growing stronger.
  • LNG exports are at ~15 Bcf, down from the highs seen in early April. They are expected to increase ~18 Bcf as the year goes on.
  • The natural gas transportation basis is coming down as natural gas demand subsides due to warming weather and is below last year's level.
  • Wholesale power pricing across the board ticked up following increases in the gas market and the beginning of cooling demand.