The NYMEX Front Month contract sold off 17 cents today, closing at $3.96 US/mm. Besides an updated temperature outlook, there hasn’t been a significant change in the fundamentals. Ongoing scheduled maintenance is causing a slight dip in production levels and LNG feed gas demand remains strong, but heating demand is falling off as temperatures still hang around normal. NOAA is showing a likely dip around mid-April, but April overall is expected to be mild.

Once again, the NYMEX price broke below $4, a level that the market has been hesitant to commit to over the past few weeks. However, with Trump scheduled to announce additional tariffs on a wide range of goods tomorrow, who knows what news we’ll see. All eyes are on “Liberation Day”…