Oklahoma Natural Gas Prices Hit Fresh $1,250/MMBtu High as Industry Struggles Continue Amid Record Cold

Amid a seemingly never-ending wave of Arctic air that crippled infrastructure in the so-called energy capital of the world and across the country’s midsection, resulting in widespread power outages, natural gas prices continued to reach new heights in Oklahoma on Wednesday.

Next-day gas prices soared into the thousands in the Sooner State, according to NGI MidDay Price Data. Prices in some areas of the country started to retreat from the triple-digit highs experienced in recent days, but remain far above the sub-$3.000/MMBtu levels recorded earlier this month. NGI’s MidDay National Avg. was down $37.670 to $34.570.

OGT, otherwise known as Oneok Gas Transmission, next-day gas traded as high as $1,250.000/MMBtu on Wednesday, according to NGI MidDay data. It was averaging at...