Quiet day. The NYMEX April front month contract traded down below $4.00 US/mm before bouncing up a dime. Last trade $4.05. The weather is getting warmer and heating demand is falling off. In a normal year, we would see some seasonal low prices with moderate spring weather, but this year isn’t normal. 

There isn’t a consensus yet for the EIA storage report for the week ending March 14^th. Some estimates are for a withdrawal of -24 Bcf, others suggest an injection of +10 Bcf. This is a tough time of the year because the weather is changing so quickly and storage reserves are so low, but remember that we are very close to withdrawal season being over. 

April 1^st is the traditional beginning of injection season, but April 2^nd is the tariff showdown (or at least this month’s showdown). I don’t think we have seen the last chapter of this reality TV show, so expect a lot of yelling and posturing, but not much substance. Kinda like wrestling on TV. The only difference is that real jobs are going to be lost and real families will be hurt in this tariff showdown.