Spot Natural Gas Prices Surge to $600 as Deep Freeze Cuts Production, Fuels Record Demand
Spot Natural Gas Prices Surge to $600 as Deep Freeze Cuts Production, Fuels Record Demand Spot gas prices in the Midcontinent, often the cheapest in the Lower 48, surged to as high as $600.00/MMBtu on Friday as snow, ice and subfreezing temperatures saturated the region. Oneok Gas Transmission, aka OGT, had been gaining traction over the past couple of days as a train of winter storms began barreling across the United States. At the start of the week, the Oklahoma point was trading in the $3.00 range. By Friday, no transaction was executed below $125.00. AccuWeather said temperatures were f...
Source: naturalgasintel.com