Posted on 04/18/2022 5:25:55 PM PDT by kiryandil
U.S. natural gas prices surged to the highest level in more than 13 years Monday as Russia’s war on Ukraine causes a global energy crunch and as forecasts called for cooler spring temperatures.
Futures jumped 10% to trade as high as $8.05 per million British thermal units, the highest since September 2008. The jump builds on recent strength, with natural gas coming off five straight positive weeks.
Prices later retreated slightly, with the contract ending the day 7.12% higher at $7.82.
“The impact of the conflict between Ukraine and Russia is likely to be long-lasting for North American natural gas markets,” said David Givens, head of natural gas and power services for North America at Argus Media.
EBW Analytics added that a “bullish weather shift” has sent the U.S. market into “overdrive.”
(Excerpt) Read more at cnbc.com ...
“Russia’s war”
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Darn that Putin, it’s his fault Biden has been screwing up the country since day one!!
“The impact of the conflict between Ukraine and Russia is likely to be long-lasting for North American natural gas markets”
My BS detector is going off.
That Putin is quite a guy—is there anything he can't do?!!
Even the lefty MSM *news* outlets are calling out Brandon, on this fake “Putin’s fault” claim.
Pretty bad when you’ve lost those liars.
Got my gas bill in the mail today.
No bueno.
If natural gas really did take a big jump, my monthly royalty checks aren’t reflecting it. At least, not yet.
Nicely done, spot on.
I need to buy 2-300 gallons of propane in a few weeks. I last bought in July of last year. I’ll be curious to see the unit price change.
The real interesting part will be the fuel cost recovery part of upcoming electric bills.
If things continue as they are Europe will be in an economic depression next year. And the Euro currency itself will be way down in value. Let’s see how eager for war they are then.
Not much happening in the Marcellus or Utica gas fields in SW Pa
Exactly...
back to re-education camp for you...
More reason to end “globalization”…
The Russians ate my homework excuses are getting old.
I did one of my masters degree field studies in upstate and central NY. That state has the largest gas reserves in the nation more than the Permian basin when looking at just natural gas and NGLs. It is off limits forever or at least as long as hydrologic stimulation is illegal in NY state. Yes that degree was in petroleum geology btw.
My view is that this Winter’s heating season is going to be catastrophically expensive for many. My LP gas bill for a tank refill DOUBLED, THAT’S AN EXTRA $500 3 times a year.
So what’s the governments answer - yep, more heating welfare, NOT producing more to bring the price down which would also stimulate the economy with new jobs.
My tank fill went from about 5-600 to $1000.
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