Yesterday’s NYMEX front month settled at $4.012 US/MM, showing another dip in price to the tune of roughly ~2.4%. The fundamentals have remained bearish for numerous reasons: milder weather, record production levels, above average storage and lastly peace talks between Russia and Ukraine have resumed. This could possibly result in the lifting of sanctions against Moscow, which could allow Russia, the world’s second-biggest gas producer behind the U.S., to export more fuel in the future.  The prospect of cheap Russian gas re-emerging into European markets, alongside the other bearish fundamentals, is strong enough to further depress the NYMEX pricing. As of writing, the NYMEX front month is currently at $3.887 US/MM, dropping yet another 10c and breaking that $4 US/MM checkpoint. In addition, LNG exports in the US are at record highs, average gas flows to the eight large U.S. LNG export plants rose to 18.6 bcf/d so far this month, up from a monthly record high of 18.2 bcf/d in November. (AA)