19 Feb 2014 More

Natural Gas Prices Surge on Cold Weather Forecast

posted by Unknown @ 16:38 0 Comments

Image of a natural gas well
Natural gas prices surged Wednesday by 11 percent as forecasts for another arctic air blast heading toward North America sent March futures up to $6.149 mmbtu  That’s a new five-year high.

"This year, with this cold weather and demand levels, there's a question of whether these oversupply years are over and we're going to reach an equilibrium,” says Gene McGillian, analyst with Tradition Energy.

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