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Texas Natural Gas Prices Plummet After Pipeline Fire

From bnnbloomberg.ca

Natural gas prices in West Texas under pressure from a glut in supply sank even further into negative territory after a segment of a pipeline system was shut following a fire, threatening to trap gas in the region. Intraday cash prices at the Waha hub in the Permian Basin fell to around -$3 per million British thermal units from around -50 cents earlier in the day, according to traders. This comes after Kinder Morgan Inc. shut a part of its Natural Gas Pipeline of America system due to a natural gas release and fire. Prices in West Texas have been negative as low demand for the heating fuel has combined with strong ... (full story)

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  • Category: Fundamental Analysis