Welcome back to another week, starting off with a strong sell-off of 28 cents in the March 2026 NYMEX future front month contract, settling at $3.14 US/mm, the rest of the 1-year curve being down 14 cents on average. Not much volatility either, prices held at that level over the whole day. The move comes after NOAA released an updated 8-14 day temperature forecast yesterday, predicting above-average temperatures to last throughout mid-February. For Ontario, temperatures are currently unusually cold, but warming up by Wednesday to normal.

Checking in on LNG Canada, their implied feed gas deliveries and actual LNG sendouts have improved since late December, both having recently set new record highs. Their operational performance has remained consistent throughout this winter, helping keep Canadian production high.