The secondary laws needed to enact Mexico’s historic constitutional changes that break state oil company Pemex’ 75-year monopoly on oil & gas development will reportedly be released mid-March. Additional laws covering royalties and taxes, however, will not be finalized until September. [Reuters]

The Nymex natural gas futures contract for March delivery closed at $6.149 per MMBtu yesterday and more cold weather is expected next week. Some market watchers are suggesting prices could rally as high as $8.00. “With sustained cold, you could see $7 or $8,” said Rob Raymond, the founder and principal of RCH Energy, on Thursday’s episode of “Futures Now.” “This is about rationing demand. Because basically, you’re running out of molecules, and at some point, if the supply side can’t react in a 15-to-30-day period, you’ve got to bid it up to cause people to consume less of it.” [CNBC]