The Scoop – Across the nation last week, temperatures were 2 degrees above normal averaging 64 degrees overall. The east coast was 14 degrees above normal with an average of 70 degrees. More warm weather is on the way (see chart below) resulting in a continued flat market.
Strategy Advice – The EIA raised its price projections for ’18. Consumption growth prediction is 1.8% higher than ’17 mostly due to an expected colder winter. Also, rising LNG exports due to Cove Point Maryland facility & Cheniere’s Sabine Pass 4th train being fully operational. This year is the year to lock up long term.