Winter Gas Is Off The Board

The March natural gas contract expired up half a percent on the day at 2:30 PM Eastern, and with that, the last contract of Winter 2018/2019 went off the board. 

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natural gas commodity weather

The March contract was the only one up on the day, with April selling off the most on warmer mid-day model guidance. 

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natural gas commodity weather

The result was the strongest March/April spread expiration since 2014. 

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natural gas commodity weather

Yet other spreads, such as April/October, actually tried to put in a short-term high today. 

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natural gas commodity weather

Meanwhile, cash was incredibly strong, trading over $2.9 through the morning session and propping the front of the strip up. 

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natural gas commodity weather

Afternoon weather model guidance then moderated quite a bit, with the 12z GEFS far warmer in the 12-16 Day time period (images courtesy of Tropical Tidbits). 

natural gas commodity weather

 

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