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Article: Natural Gas Prices Skyrocket on New York Mercantile Exchange.(Knight Ridder/Tribune Business News)
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- December 13, 2000
CopyrightCOPYRIGHT 2000 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Dec. 12--Natural gas prices soared to a record Monday as a snowstorm socked the Midwest and bitter cold was in the forecast for at least the next few days.
The soaring prices could almost immediately show up as increases in consumer heating bills, analysts said.
Prices were up as much as 13 percent, hitting a high of $9.65 per 1,000 cubic feet in regular trading on the New York Mercantile Exchange after surging as high as $9.86 in electronic trading overnight.
Phil Flynn, vice president and senior energy analyst at Alaron Trading Corp. in Chicago, said a storm that was expected to dump up to a foot of snow on Chicago raised fears that utilities ...