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Natural Gas Futures Decline on Technicals; Storage Could Provide Next Price Catalyst

Natural Gas Futures Decline on Technicals; Storage Could Provide Next Price Catalyst
naturalgasintel.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from naturalgasintel.com Daily Mail and Mail on Sunday newspapers.

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Gas Trades at $999 at Oklahoma Hub

by Bloomberg
|Tuesday, February 16, 2021
Production of gas in the Lower 48 states has plummeted to a three-year low.
(Bloomberg) A polar blast in the central U.S. has pushed natural gas prices at one trading hub up 24,000% from a week ago.
Supply for next-day delivery at the Oneok Gas Transportation hub in Oklahoma traded at $999 per million British thermal units for two contracts on Tuesday, according to David Hoy, a trader at Dynasty Power in Calgary. That compares with $4.19 a week earlier.
Gas at the Henry Hub in Louisiana, the benchmark for futures in New York, traded at $19 at about 11:45 a.m. in New York after earlier soaring to $30, Hoy said. Supply at the hub traded at $3.24 a week ago. ....

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