Nat Gas in New York Pops Higher as Temps Plummet
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Natural gas prices are at all-time highs on the East Coast with the onset of frigid weather blanketing most of the U.S.
According to market data, nat gas prices for Tuesday delivery ripped to $90 per mmBtu in New York, up from average prices of $13.6 per mmBtu last Friday.
New Jersey and South Carolina hubs also saw nat gas prices around $95 per mmBtu.
While prices for the commodity generally pop higher during the winter months as demand increases, they generally top-out at $40 to $50 per mmBtu.
February Henry Hub nat gas futures were last quoted at $4.323 pre mmBtu.
Investors will be keeping an eye on United States Natural Gas Fund, LP (NYSE: UNG) as the cold weather hangs around for the next day or so.
According to market data, nat gas prices for Tuesday delivery ripped to $90 per mmBtu in New York, up from average prices of $13.6 per mmBtu last Friday.
New Jersey and South Carolina hubs also saw nat gas prices around $95 per mmBtu.
While prices for the commodity generally pop higher during the winter months as demand increases, they generally top-out at $40 to $50 per mmBtu.
February Henry Hub nat gas futures were last quoted at $4.323 pre mmBtu.
Investors will be keeping an eye on United States Natural Gas Fund, LP (NYSE: UNG) as the cold weather hangs around for the next day or so.
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