A roundup of news and commentary from NGI’s LNG Insight The U.S. storage deficit is 6.7% below the five-year average after a 55 Bcf injection for the week ended July 9. Even Canadian storage inventories are below the five-year average because of heat waves in the West. Both Asian and European inventories are also low, keeping the global market tight. European prices erased the week’s losses Friday as fundamentals continue to provide upside. Japan-Korea Marker (JKM) prices were flat on the week, but buying is likely to stay strong as hotter weather pushes up power consumption in South China. JKM spot prices for late August were assessed at over $13/MMBtu Friday.