Happy storage day! The EIA reported an injection of +109 Bcf for last week, right in line with the expected build of 108 Bcf. This puts the lower 28’s inventories at 2,707 Bcf, compared to the 5-year average of 2,568. Still slightly ahead of the average, but not an enormous gap.
The NYMEX was high this morning, up about 10 cents, but slowly sold off after the report to hover at about yesterday’s close.The July front month is currently sitting at $3.52 US/mm. Looking ahead, incoming temperatures in the US and Eastern Canada are increasingly likely to warm up.

