NE Asia held the premium over TTF through the Sept contract as of last week. That reversed this week as prices through the first two months dropped by about 4%. Henry Hub dropped as well with the Apr contract settling just below $2. This is the first sub-$2.00 settle we have seen on Henry Hub since global LNG was stranded back to the US in the peak of the pandemic. Despite the weak prices, global markets are still waiting to see price sensitive demand materialize and tighten markets. As of right now, we have yet to see any material changes in demand.