Ontario, Canada’s second largest working gas storage region and the closest to the most populous gas consuming markets in the eastern half of the country, finished June at a record of 208.4 Bcf of gas in storage (black diamond in top chart).

The EIA reported that total U.S. propane inventories increased by 1.6 MMbbl for the week ended June 30. The build was below industry expectations for an increase of 2.7 MMbbl and the 2 MMbbl average build for the week. Total U.S.

Overall feedgas last week averaged 11.77 Bcf/d, up 1.26 Bcf/d week-on-week, driven by higher flows to Sabine Pass, where maintenance appears to be ending. In general, feedgas can be expected to be higher this month compared to June as the spring maintenance season draws to a close.

It’s familiar territory for the Permian gas market.  Pipeline takeaway capacity constraints are getting worse and will not see any sustained relief for more than a year.

US oil and gas producers ended the month of June with a ninth consecutive weekly decline in the rig count, falling to 674 for the week ending June 30 according to Baker Hughes, a decline of 8 vs.