Temperatures keep warming up. NOAA’s temperature outlook is showing a high likelihood of above normal temperatures in late April, and lately the ECMEN forecast keeps turning warmer each day. The US is nearly at “perfect temperatures” where heating and cooling demand will be nearly zero. As such, be ready for Utilities to begin putting gas in storage. Dawn has already been seeing decent injections.

Daily production levels are still fluctuating some amid seasonal maintenance. Both the US and Canada are nearing or are at all time highs though, so production will likely remain strong for the rest of spring. The question becomes if this level will hold into the Summer, when there is another wave of demand for gas. It is still somewhat early for an accurate summer forecast, but given the past few years, it’s a safe bet to expect a lot of heat this summer.