NYMEX futures prices were quite volatile today, down ten cents this morning then floating around zero, and ultimately prices settled only up a few cents. However, shortly after settling, trading picked back up and NYMEX rallied about 18 cents across the one-year curve for tomorrow’s trading day. Some headlines we are seeing include a record breaking heatwave in Los Angeles causing California to rely heavily on gas for electricity generation, and freeze offs possibly occurring in North Dakota causing production to be reduced. Tomorrow, Ontario temps should jump back to near-normal lasting over the next couple weeks, easing heating demand.

Reuters predicts tomorrow’s storage report to flip to an injection of +31 Bcf for the lower 48, stay tuned. Also note that Dawn also had a small net injection over the previous reporting period. It’s pretty unusual for injections to happen this early.