The daily average production rate remained around the 85 billion cubic feet per day (Bcf/d) with very little variation week-on-week. Demand from power generation rose by 2.65 Bcf/d or 18.5 Bcf over the week and electric industry demand should increase further through in June. Dry gas exports to Canada rose by 0.18 Bcf/d or 1.29 Bcf while exports to Mexico also rose by 0.04 Bcf/d or 0.28 Bcf week-on-week.

Overall, the supply-demand balance remained relatively unchanged. Our analysis leads us to expect 97 Bcf storage build will be reported by EIA for the report week. Our expectation compares to the 100 Bcf consensus whisper expectation and the five-year average, which is nearly 2 Bcf lower at 95 Bcf.

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