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• Closing Oil & Gas Prices
  Benchmark U.S. crude oil for April delivery ...
  Benchmark U.S. crude oil for April delivery rose $1.09 to $77.58 per barrel Monday. Brent crude for April delivery rose 91 cents to $82.53 per barrel.
  
  Wholesale gasoline for March delivery rose 3 cents to $2.31 a gallon. March heating oil rose 7 cents to $2.76 a gallon. March natural gas rose 6 cents to $1.66 per 1,000 cubic feet.
  
  
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• Natural Gas Futures Move Higher
  Natural gas futures are higher by 6.6% as forecasts point to the possibility...
  Natural gas futures are higher by 6.6% as forecasts point to the possibility of cold weather returning the second week of March. Hedge funds and other money managers sold the equivalent of 399 Bcf in the two major futures and options contracts linked to prices at Henry Hub in Louisiana over the seven days ending on Feb. 20. Fund managers have been net sellers in each of the most recent five weeks, selling 2,085 Bcf since Jan. 16, according to position reports filed with the U.S. Commodity Futures Trading Commission.
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• Energy Sector Commentary for Monday
  The energy sector is off to a...

  The energy sector is off to a slightly higher start, supported by modest strength in the major equity futures. The broader markets are set to kick off the week higher as investors wait for inflation data which is expected later this week. 

  
  

  WTI and Brent crude oil futures are edging lower, adding to last week’s declines on continued concerns over demand growth. Market participants are keeping an eye on the latest developments in the Middle East as last night, White House national security adviser Jake Sullivan told CNN that negotiators for the United States, Egypt, Qatar, and Israel had agreed on the basic contours of a hostage deal during talks in Paris but are still in negotiations. Houthis over the weekend targeted a U.S.-owned tanker, the Torm Thor. Goldman Sachs raised its summer 2024 Brent peak forecast to $87 from $85 as Red Sea disruptions spur modestly larger OECD commercial draws. They expect 2024 global demand growth of +1.5M bpd with a decline in China being offset by US/India increase and believe OPEC+ will extend voluntary cuts through 2Q24.

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• Grid operators urge natural gas supplier collaboration
  The Regional Transmission Organizations, a group of US grid operators,...
  The Regional Transmission Organizations, a group of US grid operators, is calling for improved cooperation with natural gas providers, particularly for grids that depend on their supplies. Among a number of suggestions, the group calls on the Federal Energy Regulatory Commission to help bring an end to multiday trading requirements for natural gas on weekends and holidays, replacing them with "a more transparent and centralized secondary market."
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• Progress reported in Israel–Hamas cease-fire deal
  US National Security Advisor Jake Sullivan suggested on CNN that a temporary...
  US National Security Advisor Jake Sullivan suggested on CNN that a temporary cease-fire agreement between Israel and Hamas could be reached “in the coming days”—one that involves the freeing of hostages held by Hamas and Palestinian prisoners held in Israel. Israeli PM Benjamin Netanyahu was more tempered, telling CBS that Hamas would have to abandon their “crazy demands” for a deal to be finalized. Elsewhere in the Middle East, US and UK forces carried out another round of strikes on Houthi targets in Yemen in response to the militant group’s attacks on commercial shipping.
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