Welcome back. Hard to believe we are halfway through June, and that summer is only four days away…

Looks like some cooling demand will soon be ramping up in the East, NOAA’s Temperature Outlook came in today with a strong likelihood for the entire Eastern half of the USA to be warmer than normal. Remember that about 40% of the USA’s power generation currently comes from natural gas. The NYMEX saw gains throughout the day, the July front month settling up 16 cents to $3.75 US/mm.

An early estimate from Reuters for the upcoming storage report is an injection of +102 Bcf, yet another triple digit injection. However, this cooling demand may be enough to interrupt that momentum.