Given how mild temperatures have been across North America, it’s hard to believe that there’s just a bit over a week left before summer begins. With the slow start to the cooling season, Utilities must be working hard to keep the big injections coming, at least until other demand for gas kicks in.

Production is down in both Canada and the US. Canadian producers are still navigating the wildfire situation out west, and 2 Bcf’s worth of US output was paused due to planned maintenance in the Northeast and South Central producing areas. Checking in with the crude market, the WTI is trading $64.75 US/barrel, up from $60.79 US/barrel back at the end of May.