Welcome back for another week. NYMEX prices drifted up and down today, but ultimately settled a few cents down. Heating demand has really come off, to the point now where heating and cooling degree days are nearly balanced in the US. Some nice and toasty temperatures coming up!

Canadian production has recovered from last week’s dip, back up to normal. The USA’s production is holding steady not quite at the peak in late-April, but still high. With the early estimate of the May-2 storage report being +99 Bcf, not as much as last week’s +107 Bcf, but you still get a good idea of what Utilities are doing throughout this low-demand period. Note that the 5-year average is an injection of +79 Bcf.