Welcome back. Not much has changed in the natural gas world over the weekend. It’ll likely be pretty warm in Ontario this week, residential and commercial demand is unsurprisingly low, LNG flow is back up after Freeport is back online, and production in the US continues to hold its 103.6 Bcf/d level.

Perhaps the biggest news is that both the US and China have agreed to a 90 day pause on tariffs, and that US equities subsequently rallied. More certainty has the opposite effect on natural gas prices; the NYMEX sold off significantly in the morning (the June front month sold down almost 20 cents to close at $3.65 US/mm), then hung onto that level throughout the rest of the day. The next couple days will paint the full picture of how traders feel about this market’s direction.