The market continues to catch a break, the NYMEX settling down a few cents since yesterday. The July front month contract finished the day at $3.40 US/mm. With the July contract’s last day of trading coming up, looks like this will be about where the contract settles.

The blast of heat along Eastern Canada and the Eastern US has finally cooled down to just about normal. For now, weather models are in agreement that Canada should stay at about average temperatures or warmer over the next couple weeks.

Reuters is predicting tomorrow’s storage report to be an injection of +88 Bcf into the lower 48’s storage. If true, the injections are certainly getting smaller with the heat pushing up cooling demand.