As you are well aware, I have been "nitpicking the death" out of this market to try to better understand it's behavior.
Yes, it sure has been Hot, and will be for a bit, certainly through Friday when the EIA takes it's next dipstick readings !!
The market sure reacts to that EIA report, but I never could figure out just what it was reacting to/when. Even though the build data in the report is a "week old" that is apparently what the market uses as a measure of supply/demand.
As I have learned, there really is no other "measure" of what is going on since there is no "real production data" nor "consumption data" as so much "plumbing" bypasses the storage sites. The only real measure of the supply/demand balance is the build/injection number. By the time such data comes out it is so stale that it is not "trade able" beyond showing longer term trends.
I am really surprised that this "Heat wave", to date, has had no impact on short term price. But, there is a lot of "expensive" industry data out there that attempts to assess production, and pipe line flows to determine consumption and I'm sure that those "players that are driving price" are paying for it !!!