• Natural gas shortages lead to power outages in northern Mexico
  • Fueled by OGT’s $600/MMBtu record high on Friday, NGI’s Spot Gas National Avg. soared $57.42 to $61.960

Amid reports of power outages and production freeze-offs resulting from an intense cold blast stretching down into the Gulf Coast over the holiday weekend, natural gas futures were sharply higher in early trading Tuesday. The March Nymex contract was trading at $3.05/MMBtu at around midday, up about 15.0 cents from Friday’s settlement.


Several states in northern Mexico were impacted by the storm as natural gas shortages shut generators and left more than 4 million customers without electricity for hours on Monday.

In what will likely go down as one of the wildest days in the natural gas market ever,...