North America gas weekly update: Some like it hot

The market bulls are liking the warmer weather. August Henry Hub prices continue their mini-rally, and the pace of storage injections in inching down closer to the five-year average. Production remained near record highs post-Independence Day, but this was countered by record high power burns and record export levels. The impact of Hurricane Barry will be felt next week and beyond, as Gulf of Mexico shut-ins will initially lower next week's production levels before a gradual recovery, and it looks to have affected the hotter weather trend. However, will we return to the "red hot" temperatures in August and continue the rally?