The week begins with a news of incoming cold, a tariff update, and a rally.

Both NOAA’s 6-10 day and 8-14 Day Temperature Outlooks are showing a likelihood of below normal temperatures for most of the US, well into February. Meteorologists are watching for a significant winter storm that will bring a lot of snow and ice to the East Coast in the coming days.

The first headline many of us read this morning was that Trump is committed to impose 25% tariffs on steel and aluminum worldwide, despite how integrated Canadian-made metals are in American manufacturing. This serves as a reminder that Trump is serious about tariff threats, and it’s no secret that many industries are on edge.

NYMEX gas prices increased across the board today, the most being by 14 cents in both April and May 2025. The front month March contract increased about 13 cents to close at 3.44 US/mm.