A pretty steady day for the NYMEX, futures gained a few cents, not a big move compared to the volatility as of late. The August front month contract settled at $3.488 US/mm. Not much in the fundamentals to report either. Temperatures are still about normal in the US and Canada, production in the US holds at just above 106 Bcf/d, cooling demand is present but manageable, LNG export plants are wrapping up maintenance, and the expectation for tomorrow’s storage report is an injection of +51 Bcf. Not the biggest build, especially compared to the builds as of late, and is below the 5-year average of +61 Bcf injected.

Looking ahead, it could be quite warm in mid-July, especially out West, but in the East too. Ontario looks to be on the cusp, but NYMEX could rally further with an increase in cooling demand.