An article in the Financial Times (yes, THE Finanical Times, published in London) says even though the weather has turned colder and snowier in the northeast U.S., natural gas prices are still in the basement. And boy are they right. According to the FT article trading from last Friday at the Leidy hub in Pennsylvania traded for 80 cents per Mcf (or the equivalent, 80 cents per million British thermal units). It’s actually worse than that at the Tennessee Gas Pipeline Zone 4 Marcellus trading point. Last Friday the price got as low as 53 cents per Mcf. The average for all trades last Friday at Zone 4 Marcellus was 67 cents per Mcf. Talk about prices going into and through the basement!…
