Canadian natural gas cash prices remain locked in sideways land as a persistent lack of weather-related demand strength has combined with above average storage levels and rebounding production due to the fading threat from Alberta wildfires.

Overall feedgas last week averaged 11.94 Bcf/d, down 530 MMcf/d week-on-week, driven by lower flows to Sabine Pass because of pipeline terminal maintenance. Average weekly feedgas to Sabine Pass was down 850 MMcf/d week-on-week at 3.66 Bcf/d. Flows to the terminal began the week at full utilizati

WTI Corpus Christi saw its premium to Midland East Houston (MEH) narrow to 16 cents/bbl last week, with market sources attributing the contraction to a decline in export demand through Corpus Christi relative to Houston, according to RBN’s latest 

US oil and gas rig count continued the slide that began in early May, with rig count for the week ending June 2 falling to 696 according to Baker Hughes, a decline of 15 vs.

The EIA reported that total U.S. propane/propylene inventories increased by 3.9 MMbbl for the week ended May 26, the largest gain in stocks for the week over the last 10 years.  The build was above industry expectations for an increase of 2.3 MMbbl and the 1.7 MMbbl average build for the week.