Just for the record

State of the Climate | Global Analysis | July 2009

The global ocean SST for July 2009 was the warmest on record for the second consecutive month, 0.59°C (1.06°F) above the 20^th century average of 16.4°C (61.5°F). This broke the previous July record set in 1998. Sea surface temperatures during July 2009 were warmer than average across much of the world's oceans, with the exception of cooler-than-average conditions across parts of the North Atlantic Ocean and the southern oceans. Sea surface temperature anomalies in all Niño regions continued to warm during July 2009, where the monthly temperatures were more than 0.5°C (0.9°F) above average. If El Niño conditions continue to mature as projected by NOAA, global temperatures are likely to continue to threaten previous record highs. Please see the July 2009 ENSO discussion for additional information.

Mind you, there has been discussion in at least one skeptical blog about a new paper arguing that the net flow of heat in and out of the oceans switches around quickly, which (they say) is inconsistent with the proposition that the oceans contain heat that is "in the pipeline".

I don't think I have seen any commentary about this from the AGW side of the street, but I assume it is coming.