Dry gas production was flat overall with a modest gain of 0.3 Bcf/d seen week-on-week for the report week ending May 3. An overall increase in demand of approximately 5 Bcf/d, mostly from residential and commercial, representing an increase of 10% w-o-w was also observed. Our analysis leads us to expect 87 Bcf storage build would be reported by EIA for the report week, in comparison to the current 85 Bcf consensus whisper expectation and almost 30% higher than the five-year average storage build of 68 Bcf.

Now, what about the prices for the upcoming week?

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