The rally continues, NYMEX futures gained about ten cents over the remaining summer months since yesterday’s settle, the July front month closing at $3.85 US/mm. Ultimately, tensions in the Middle East have traders on edge with regards to where the crude market will be (especially with energy infrastructure in the crosshairs). The concern is that crude supply may be cut and that demand will consequently increase for American crude and LNG exports, on top of the already existing demand for gas coming down the line.

More locally though, daily temperatures keep creeping up. Canada’s average temperatures are expected to be above normal, especially next week. Canadian production is still lower than normal, staying flat at just under 17,500 MMcf/d. Wildfires continue to burn in British Columbia, but the number of out of control fires has been decreasing.