Natural gas markets stayed relatively quiet this week as the March contract expired at $2.969 per MMBtu, wrapping up a winter that was inflated by February’s brief price spike. With April now leading the curve, attention has shifted to a mild spring outlook that is limiting demand and softening sentiment. A light storage withdrawal pushed inventories back near seasonal norms and into a surplus versus last year, while strong production and steady LNG exports leave the near-term outlook leaning neutral to slightly bearish barring a late cold surprise.
