Wx Drives March NYMEX Price to Close at $4/MMBtu, Spot Price Higher

Hold on, everyone. The NYMEX natural gas price roller coaster is climbing up the next hill, and there is no telling how high it will go---or how quickly it will go down again. Yesterday, the NYMEX "front month" (March contract) for natural gas futures based on the price at the Henry Hub soared 28.2 cents to close at $4.0070 (call it $4.01). It was the sixth day in a row that the price has gone higher. The current cold snap (weather) in the central and eastern sections of the country is credited with the rise in the price. NGI reports its nationwide average for the spot price of natgas soared $1.010 to $6.880, its highest level since Winter Storm Enzo in mid-January.

---

To view this content, log into your member account. (Not a member? Join Today!)