Blizzard, plunging temps spark natural gas spike

|By:, SA News Editor

To look at the futures market, things will be warming up soon - natural gas is down 4.5% on the session to $2.872. The spot market, however, is a far different story, with prices today in New York hitting 60x that amount, or a record $175 per million BTUs.

Other major trading hubs in the northeast saw similar spikes.

At issue isn't a lack of gas, but instead a lack of pipeline capacity to move product into the major population centers of the Northeast.

ETFs: UNG, UGAZ, DGAZ, BOIL, KOLD, UNL, DCNG, GAZB

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