Joe's weather forecast at https://www.weatherbell.com/premium/ is that April will remain much colder than normal for the eastern 2/3rds of the U.S. and then "snap" quickly into a hot summer pattern in May. This is extremely bullish for natural gas demand.
That said, there isn't much that happens in April and May to get the speculative traders to go long on natural gas futures.
However, if we continue to have draws from storage well into April it should draw some attention. The swing to heat in May will create more demand from gas fired power plants and we all know that industrial demand for gas in much higher YOY.
If ngas in storage is still 700 Bcf below normal in June, it could get interesting for the gassers.
Also, this weather is very bullish for NGL prices. Lot's of propane is getting burned up this week.
This weather is bullish for natural gas
This weather is bullish for natural gas
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group