Seventy is, basically, already here.

It comes down to how well refineries recovered from storm damage and how fast imports have grown. I am looking for an increase in refinery utilization but it should only be limited.

There are two important words to keep in mind: snow cover. Once there is snow on the ground it's hard to keep temperatures up. Also, there are no signs of a warm-up on any map I've been looking at.

Everything else in the report was neutral or bullish. Demand is still high.

All the geopolitical tension is the primary factor supporting this stuff.

Residual demand is down from a year ago, which may be a sign that natural gas has fallen enough for some consumers to switch back.