NYMEX Price Hits New Modern High $4.61 – M-U Spot Prices Climb Too

On Monday MDN told you that given supplies of natural gas going offline on the Gulf of Mexico due to Hurricane Ida, and given that the hurricane missed major LNG export facilities (meaning they will continue to operate and export gas), the price of natural gas was/is skyrocketing (see NatGas Prices Soar with Hurricane Ida Shutting Down Gulf Production). At the time we told you that according to some analysts, natgas was on its way to a modern-era high of $4.50 or more. Yesterday the NYMEX price at the Henry Hub flew by that level, closing at $4.61. That didn't take long!

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