It’s Winter, so it’s cold; but even relative to the worst year in recent records, this is extreme. Demand for heat is seemingly surging as the price for delivery of Natural Gas in New York City and New Jersey has soared to a record high. Uber would be proud of the surge as prices for Northeast Transco Zone 6 gas reached almost 9 times its seasonal average and other East Coast hubs reached 10-year highs.
Nat Gas prices for delivery in NYC and NJ…
more than 8 times the seasonal average…
Via Bloomberg,
Spot gas prices for New York City surged to a record for today while other East Coast hubs climbed to 10-year highs. Transco Zone 6, which includes deliveries to New York City, reached $90 per million British thermal units in IntercontinentalExchange Group Inc. trading before ending at $55.49, an all-time high based on data going back to 2001. Gas at the Algonquin City Gates in New England more than doubled to $34.10 after reaching $50, the most since January 2004.
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via Zero Hedge http://feedproxy.google.com/~r/zerohedge/feed/~3/YqxkM-04AIg/story01.htm Tyler Durden