As of settle, the NYMEX 12-month forward curve fell approximately $0.22 from yesterday, while WTI crude oil was down $3.90 to $87.00 as of 4:00 PM. NYMEX futures weakened as soft near-term weather demand, and a temporary drop (0.3 Bcf/d) in LNG feed gas from the Freeport outage. In Canada, net exports fell another 696 MMcf/d to 3,478 MMcf/d as weak California and Pacific Northwest demand continued to constrain western export pull, while LNG Canada flows eased 163 MMcf/d on the day to 2,079 MMcf/d, though they remain above last week’s average of 1,961 MMcf/d.

Looking ahead, the 6–10 day outlook has turned cooler across central and eastern North America, which could support a modest late-season recovery in demand and deeper NGTL storage draws. However, the western U.S. remains warmer than normal, suggesting limited improvement in Pacific Northwest and California demand pull, while NGTL USJR maintenance beginning March 14 may further limit the system’s ability to translate any tightening into stronger eastbound export flows. (JM)