The March front month contract continues to creep upwards, closing at $3.57 US/mm, up 6 cents.

On the temperature front, late February is warming up to near-normal, but the short term is looking quite cold. Additionally, meteorologists have their eyes on a few significant winter storms in the coming days, which will drop a lot of precipitation in the Central to Eastern US, which will also reach Southern Ontario.

There are some reports that with the freezing temperatures as of late, freeze-offs in some parts of the US have caused some interruptions in gas production. The full extent will be made clear soon, but expect a drop in production of about 2 to 3 Bcf/d over the past few days.

The updated expectation for tomorrow’s storage report is a withdrawal of -95 Bcf. Stay tuned.