It was a more active day for energy markets today. Natural gas moved lower, with NYMEX down $0.06 USD/MMBtu after the EIA printed a 103 Bcf storage build, right at the high end of the expected range and well above both last year and the five-year average for this week. Dawn also fell $0.09 CAD/GJ, with the local weakness tied to still-soft Ontario fundamentals: imports improved a bit, but remain well below recent highs, Vector deliveries into St. Clair are still near the bottom of their range, NEXUS remains constrained, and Dawn injection activity has stayed limited as demand eases with milder weather.

WTI went the other way, rising $3.79 to $96.75 USD/BBL, as oil moved higher on escalating Iran tension and continued disruption risk in the Strait of Hormuz. Reuters said the move followed reports of air attacks over Tehran, a power struggle inside Iran, and continued shipping risk through Hormuz. (JM)