보기: Market Movers Americas, March 21-25: US-UK talks will shape metals trade; grid projects in focus

In this week's Market Movers: Withdrawal season ends for gas storage, the metals markets watch upcoming US-UK trade talks, a regional grid operator's board will meet to discuss big grid projects, and the California Low-Carbon Fuel Standard carbon credit price slumps to a four-year low.

Starting off, trade representatives from the US and UK will meet in Baltimore this week to discuss the future of Atlantic trade. Metals markets will be keeping a close eye on discussions following a January announcement stating that the two parties had formally entered discussions to address global steel and aluminum excess capacity and a dispute between the two nations stemming from the US Section 232 tariffs. The Biden administration has been taking a country-by-country approach to resolving disputes arising from the Trump-era steel and aluminum tariffs, previously reaching agreements with Japan and the EU to replace the tariffs with a quota program.

In natural gas, the US Energy Information Administration this week is expected to announce the final withdrawal from storage for the 2021-22 heating season, potentially putting the brakes on forward gas prices at the benchmark Henry Hub. For last week, S&P Global Commodity Insights forecast a drawdown of 69 billion cubic feet, which would narrowly outpace the prior five-year average, dropping stocks to a winter-ending low just below 1.4 trillion cubic feet. As the withdrawal season comes to an end, 2022 forward gas prices at the Henry Hub remain above 5 dollars per MMBtu but could come under pressure as winter demand continues trailing off over the weeks ahead.

In electricity, the Midcontinent Independent System Operator's board is holding meetings this week, and one topic of conversation will be MISO's efforts to plan the big regional grid projects needed to accommodate the growth of renewables. MISO's long-range transmission planning process has been controversial, in part because stakeholders disagree about who should pay for project costs, which could eventually reach 100 billion dollars. While MISO is close to finalizing its first batch of proposed projects, it is expected to announce this week that it plans to delay board approval of those projects until July. This brings us to our social media question of the week: With the drive toward renewable energy, how important is investment in North America's utility grids? Tweet us your thoughts.

And finally, California Low Carbon Fuel Standard carbon credits assessed by S&P Global Commodity Insights have fallen to their lowest price since February 2018 at 121 dollars per metric ton of CO2 equivalent. Renewable diesel was the top generator of LCFS credits in the most recent data released by the California Air Resources Board. Over 2022, renewable diesel production is expected to increase as investors push to bring new facilities online. HollyFrontier, CVR Energy and Global Clean Energy are all expecting to start renewable diesel production this year. In addition, Vertex Energy has moved up its timeline for renewable diesel at refinery in its Mobile, Alabama, to the end of 2022. On March 1, Neste and Marathon Petroleum announced a 50-50 joint venture to produce renewable fuels in Martinez, California.

The Platts Atlas of Energy Transition is your map to the sustainable commodity markets of the future. You can explore the Atlas by visiting the address displayed on your screen. Thanks for kicking off your Monday with us, and have a great week ahead.