BloombergNEF projects that US gas storage will be 10% below the five-year average this summer. Lower-48 state dry gas production Monday was 107.2 bcf/day (+5.1 y/y), according to BNEF.

Despite a drop in the U.S. natural gas rig count—down seven last week to just 96—output remains strong. Lower-48 dry gas production averaged 106.4 Bcf/d on Friday, up over 4% from a year ago.

Prince Edward Islanders woke up Tuesday morning to a significant drop in gas prices after the federal carbon tax was removed from the cost of fuel. The minimum price at the pump for gasoline fell by ...