Natural Gas Soars to $1,250 in Central U.S. on Supply Paralysis
- Oklahoma, Henry Hub spot prices are continuing to surge
- In contrast, Nymex futures are little changed on weather chaos
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There’s no sign yet of a pause in the dramatic rally in natural gas prices across the central U.S., where spot rates have now breached the $1,000 mark, more than 100 times their level just a week earlier.
Prices for immediate delivery are skyrocketing as consumers scramble to find additional supply. U.S. production has fallen to a four-year low, causing a shortage that has left millions of homes and business in the dark and forced food giant Cargill Inc. to halt production at three of its meat processing plants in Texas.