- The freezing weather has caused spot prices for natural gas on the East Coast to soar to record highs, with gas at a trading hub in New Jersey surging to as high as $90 per million British thermal units yesterday from just $13.61/mmBtu on Friday. That compares with usual peaks of $40-50 when the temperatures get cold.
- At two other hubs, prices hit $95/mmBtu.
- Utilities are absorbing the costs at the moment, although they could pass the prices on to customers later in the year.
- ETFs: UNG, UGAZ, GAZ, BOIL, DGAZ, UNL, KOLD, NAGS, GASZ, DCNG, XLU, IDU, FCG, VPU, GASL, GASX, RYU, PUI, UPW, SDP, FXU, PSCU, FUTY, UTLT
Arctic weather causes natural gas prices to heat up
Jan 7 2014, 04:27 ET