Happy storage day! For the week ending May 16, 2025, the EIA reported an injection of 120 Bcf into the lower 48’s storage, pushing inventories up to 2,375 Bcf, the 5-year average being 2,285 Bcf. This was about in-line with estimates, yet it’s still quite a large injection. It demonstrates the push to be prepared for whatever this summer and next winter may bring.

Speaking of this summer, forecasts are starting to take shape. Interestingly, the ENSO signal is completely neutral right now, meaning that meteorologists have to look to other signals to put together a forecast. Part of that is soil moisture and drought, which spells bad news for the Central to Western US. They could see some serious heat. The East Coast, including Ontario, is currently expected to see normal to above average temperatures.

Keep in mind that the past 15 summers have been warmer than the 30-year normal, and the ten-year average is so skewed that the 10-year average itself would be the 8th hottest summer on record. Regardless, there may be more variability this season than in recent years. Hot spells for sure, but maybe not the entire season.