NG Margin changes effective COB January 13th, 2022

Maintenance margin's changing as follows (Note: Non-member initial margin rates will be 110% of these)

Tier 1 / Feb22 from $4500 to $5000 up $500
All other months unchanged.

https://www.cmegroup.com/notices/clearing/2022/01/Chadv22-013.html

Second this week, small changes though.

NG Margin changes effective COB January 18th, 2022

Maintenance margin's changing as follows (Note: Non-member initial margin rates will be 110% of these)

Tier 1 / Feb22 from $5000 to $5500 +$500
Tier 2 / Mar22 from $4250 to $4750 +$500
Tier 3 / Apr22 unchanged at $3300
Tier 4 / May22 from $2550 to $2750 +$200
Tier 5 / Jun22 from $2400 to $2600 +$200
Tier 6 / Jul22 from $2350 to $2500 +$150
Tier 7-9 / Aug22-Oct22 from $2350 to $2400 +$50
All other months unchanged.

https://www.cmegroup.com/notices/clearing/2022/01/Chadv22-016.html

Third increase in about 10 days!

NG Margin changes effective COB January 20th, 2022

Maintenance margin's changing as follows (Note: Non-member initial margin rates will be 110% of these)

Tier 1 / Feb22 unchanged at $5500
Tier 2 / Mar22 unchanged at $4750
Tier 3 / Apr22 from $3300 to $3400 +$100
Tier 4 / May22 from $2750 to $2800 +$50
Tier 5 / Jun22 from $2600 to $2700 +$100
Tier 6 / Jul22 from $2500 to $2650 +$150
Tier 7 / Aug22 from $2400 to $2550 +$150
Tier 8 / Sep22 from $2400 to $2450 +$50
Tier 9 / Oct22 unchanged at $2400
Tier 10-14 / Nov22-Mar23 from $2325 to $2450 +$125
Tier 15-21 / Apr23-Oct23 from $1125 to $1250 +$125
All other months unchanged.

https://www.cmegroup.com/notices/clearing/2022/01/Chadv22-019.html

60min bar Chart of NG Feb22 for the last week.
Settlement was a little 'interesting' to say the least.

NG Margin changes effective COB February 3rd, 2022

Maintenance margin's changing as follows (Note: Non-member initial margin rates will be 110% of these)

Tier 1 / Mar22 from $5500 to $6600 +$1100
Tier 2 / Apr22 from $3900 to $4500 +$600
Tier 3 / May22 from $3250 to $3700 +$450
Tier 4 / Jun22 from $3150 to $3600 +$450
Tier 5 / Jul22 from $3050 to $3500 +$450
Tier 6 / Aug22 from $2950 to $3400 +$450
Tier 7-8 / Sep22-Oct22 from $2850 to $3350 +$500
Tier 9-13 / Nov22-Mar23 from $2950 to $3350 +$400

https://www.cmegroup.com/notices/clearing/2022/02/Chadv22-034.html

NG Margin changes effective COB February 7th, 2022

Maintenance margin's changing as follows (Note: Non-member initial margin rates will be 110% of these)

Tier 1 / Mar22 from $6600 to $7500 +$900
Tier 2 / Apr22 from $4500 to $4950 +$450
Tier 3 / May22 from $3700 to $4150 +$450
Tier 4 / Jun22 from $3600 to $3950 +$350
Tier 5 / Jul22 from $3500 to $3800 +$300
Tier 6 / Aug22 from $3400 to $3775 +$375
Tier 7-8 / Sep22-Oct22 from $3350 to $3750 +$400
Tier 9-13 / Nov22-Mar23 from $3350 to $3850 +$500

https://www.cmegroup.com/notices/clearing/2022/02/Chadv22-038.html

Interesting when March expired they didn't roll the tiers. So if your trading the prompt or the continuous contract you actually saw a $2550/34% drop in margin requirement.

NG Margin changes effective COB March 7th, 2022

Maintenance margin's changing as follows (Note: Non-member initial margin rates will be 110% of these)

Tier 1 / Apr22 unchanged at $4950
Tier 2 / May22 from $4150 to $4300 +$150
Tier 3 / Jun22 from $3950 to $4100 +$150
Tier 4 / Jul22 from $3800 to $3900 +$100
Tier 5 / Aug22 from $3775 to $3900 +$125
Tier 6-7 / Sep22-Oct22 from $3750 to $3900 +$150
Tier 9-13 / Nov22-Mar23 from $3850 to $4200 +$350
plus more

https://www.cmegroup.com/notices/clearing/2022/03/Chadv22-076.html

I guess next week we can expect a huge jump to the north from "Gas futures" and a south tour from the "Indices futures". God bless Europe.

Russian gas giant Gazprom has officially halted all deliveries to Europe via the Yamal-Europe pipeline, a critical artery for European energy supplies.





Source: https://www.zerohedge.com/energy/gazprom-halts-gas-shipments-europe-critical-pipeline

Symple

De-Globalization: New Supply Chains Are Inefficient and Will Drive Up Inflation

De-globalization is underway. A key ramification is higher inflation.



EU Existing Gas Supply

- The EU gets about 40% of its total natural gas supply from Russia. That gas gets to EU countries over existing pipelines.

- Russia and the EU just finished an an additional pipeline, Nord Stream II, to supply even more gas to Europe.

After Putin invaded Ukraine, the EU set a goal of getting no natural gas from Russia.

Proposed Gas Supply

- Instead of using existing pipelines over short distances, the EU wants the US to deliver Liquified Natural Gas (LNG) via shipment across the Atlantic Ocean to Europe. This is far more expensive and will require more LNG terminals.

- The US Greens are not exactly happy about the US fracking more natural gas. And how much energy is lost compressing and transporting LNG to Europe?

- It's not as is Russia will be unable to sell its natural gas. Russia and China are building new pipelines for Russia to pipe gas to China instead of the EU.



The full article you will find here: https://mishtalk.com/economics/de-globalization-new-supply-chains-are-inefficient-and-will-drive-up-inflation



Symple

Similar to last month, when April expired they didn't roll the tiers. So if your trading the prompt or the continuous contract this $550 increase was offset by a drop of $650 due to contract roll.

NG Margin changes effective COB April 7th, 2022

Maintenance margin's changing as follows (Note: Non-member initial margin rates will be 110% of these)

Tier 1 / May22 from $4300 to $4850 +$550 (April was $4950 before expiry)
Tier 2 / Jun22 from $4100 to $4650 +$550
Tier 3 / Jul22 from $3900 to $4400 +$500
Tier 4 / Aug22 from $3900 to $4400 +$500
plus more

https://www.cmegroup.com/notices/clearing/2022/04/Chadv22-138.html