Apr Nymex natural gas (NGJ21) on Monday closed up +0.006 (+0.22%).

April nat-gas (NGJ21) prices on Monday posted a modest gain on mixed weather forecasts. Maxar on Monday said that above-normal temperatures would be seen across most of the central and eastern U.S., while below-normal temperatures are expected in the West and Southeast from March 6-10. Also, above-normal temperatures are seen for the eastern half of the U.S. from March 11-15.

Weakness in U.S. domestic nat-gas demand is bearish for prices as nat-gas demand in the lower 48 states on Monday fell -1.6% y/y to 81.7 bcf.

The reopening of U.S. nat-gas processing plants has led to a rebound in gas flows to U.S LNG export terminals as gas flows on Monday to LNG export terminals were seen at 10.7 bcf, up +21% y/y. On Dec 13, gas flows to LNG export terminals rose to a record high of 11.6 bcf (data from 2014), according to BNEF.

An increase in U.S. electricity output is posit... Read more

Apr WTI crude oil (CLJ21) on Monday closed down -0.86 (-1.40%), and Apr RBOB gasoline (RBJ21) closed down -0.76 (-0.39%).

Crude oil and gasoline prices on Monday gave up an early advance and posted moderate losses. A rally in the dollar index on Monday to a 3-week high weighed on crude oil along with caution ahead of this Thursday's OPEC+ meeting. Crude oil prices initially moved higher Monday morning on strength in stocks that boosted optimism in the economic outlook and energy demand. Also, strength in global manufacturing data on Monday was positive for future economic growth and energy demand.

Monday's global manufacturing data was mostly positive for energy demand and crude prices. The U.S. Feb ISM manufacturing index rose +2.1 to 60.8, stronger than expectations of +0.2 to 58.9 and the fastest pace of expansion in 3 years. Also, the Eurozone Feb Markit manufacturing PMI was revised upward to 59.9 from the previously reported 57.7, the fastest pac... Read more