Natural Gas Market Update

Elsewhere in the energy complex, the price of Nymex-traded natural gas for March delivery NGH15, -0.42%  fell by 9 cents, or 9%, to settle at $3.12 per million British thermal units.

Oil Market Update

Crude-oil futures settled sharply lower Thursday, erasing a surge higher that followed the Swiss National Bank’s decision to scrap a cap on its currency, as the U.S. dollar regained its footing and investors focused on OPEC’s downgraded forecast of demand for its crude.

West Texas Intermediate crude oil for February delivery CLG5, +0.76%   fell $2.23, or 4.6%, to settle at $46.25 a barrel after trading as high as $51.27. Oil saw its biggest one-day jump since 2012 on Wednesday, in a move tied in part to options expiration activity, but it gave back most of that gain Thursday and remains near six-year lows.

ICE February Brent North Sea crude oil LCOG5, -2.07%  lost $1.02, or 2.1%, to settle at $47.67 a barrel.

Current Market Update

Tokyo (Nikkei Average) down 2.8% 
Hong Kong (Hang Seng Index) down 1%
Shanghai (Shanghai Composite Index) up 1% (at break) 
Sydney (S&P/ASX 200) down 1.2% 
Seoul (Kospi) down 1.2% 
Mumbai (Sensex) down 0.4% 
Taipei (Taiex) down 0.2%