Record-breaking heat on the Pacific Coast of the United States will boost air conditioning-related gas demand over the coming week, which in turn will increase the region’s reliance on stored gas. However, gas stocks in the Pacific Region (PR) of the US are down on an annual basis, and combined with tighter pipeline supplies, this suggests there will be further upside to gas prices during June.
There is a 65% chance of above-average temperatures in the PR during the next 6-10 days. Temperatures in the region...
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