Linkslide. Supposed to be my weekend off but everyone on our team got told they need us to work this weekend. Cold weather across the country has caused gas prices to skyrocket.
Spot gas prices in the Midcontinent, often the cheapest in the Lower 48, surged to as high as $600.00/MMBtu on Friday as snow, ice and subfreezing temperatures saturated the region.
Oneok Gas Transmission, aka OGT, had been gaining traction over the past couple of days as a train of winter storms began barreling across the United States. At the start of the week, the Oklahoma point was trading in the $3.00 range. By Friday, no transaction was executed below $125.00.