And a NYMEX rally to finish off the week, gas futures gaining about between 15 and 20 cents as far out as this winter. The July contract has expired, so August is the new front month. August settled at $3.74 US/mm.

Most of this activity is probably futures trading moving the market around, but there are some changes in the fundamentals. Temperatures are expected to inch back up above normal in a couple weeks, and LNG feed gas demand has also been inching up as maintenance slowly wraps up at some of the bigger facilities in the US. LNG Canada, the first Canadian LNG export plant in Kitimat, BC, has begun its first exports as well this week. According to LSEG, production in the States is up to 105.6 Bcf/d in June so far (compared to 105.2 Bcf/d in May), but injections into storage will likely drop to below-normal to account for electricity demand for air conditioning. An early estimate for next week’s storage report is an injection of only +51 Bcf.

Enjoy your weekend! Expect limited trading activity next week, since business is closed on July 1st for Canadians, and on July 4th for Americans.