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The latest surge follows a 50-cent jump over two sessions, driven by renewed short covering and geopolitical tensions. The market reacted sharply to President Trump\u2019s new tariffs on Canada, China, and Mexico, with traders bracing for potential retaliation. However, the administration\u2019s suggestion of a possible compromise has added further uncertainty.<\/p>\n
Meanwhile, U.S. storage deficits remain a key driver. With a shortfall exceeding 250 Bcf and no significant improvement expected in the near term, the tight supply outlook is keeping prices elevated. Additionally, Canada has cut exports to the U.S., further tightening domestic supply, while strong LNG exports continue to provide underlying support.<\/p>\n
The latest NatGasWeather forecast shows a volatile pattern through mid-March. While strong systems are expected to bring rain and snow, temperatures will fluctuate widely. The southern and eastern U.S. will see milder conditions with highs in the 50s-80s, reducing overall demand. However, colder temperatures in the north could prevent significant storage recovery, maintaining a moderately supportive backdrop for prices.<\/p>\n
Natural gas futures remain at a crossroads. A decisive break above $4.551 could push prices toward $4.805, with strong momentum favoring the bulls. However, the market remains highly sensitive to shifting weather models and trade policy developments. If prices fail to hold above $4.147, a deeper pullback toward $3.742 or even the 50-day moving average at $3.511 could follow. Traders should monitor tariff negotiations and storage reports closely as key drivers in the coming sessions.<\/p>\n