• Oklahoma gas prices soar to $999.00/MMBtu as unrivaled cold cripples energy infrastructure
  • Texas prices in the hundreds as electric grid operator implements blackouts
  • Nymex futures rally as impacts of Arctic blast still unfolding

Natural gas futures soared Tuesday following a historic Arctic freeze that crippled much of the nation’s natural gas infrastructure as demand soared to unprecedented levels. The March Nymex gas futures contract settled at $3.129/MMBtu, up 21.7 cents from Friday. April prices lagged a bit, climbing 10.7 cents to $2.983.

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Cash prices remained volatile after the weekend, with next-day gas in Oklahoma surging as high as $999.00 amid the unparalleled winter blast that slammed the region. NGI’s Spot Gas National Avg. rose $18.800 from Friday’s levels...