Why Natural Gas Prices Just Hit a 14-Year High – As U.S. fuel prices surge fast than crude oil over the last month, the United States is facing an energy crisis that just keeps getting worse – and as Americans suffer at the gas pump, the cost of natural gas is rising rapidly too.
Natural gas, an essential fuel for consumers who use it to heat their homes and generate electricity and industries that use it to create petrochemicals and plastic products, surpassed the $8 per thousand cubic feet price over the last week. At a fourteen-year high, the rapid price increase will cause further trouble for the United States economy as inflation already surpassed 8.5% in March this year.
CEO of brokerage Powerhouse Alan Levine offered thoughts on the US natural gas market, suggesting that price uncertainty will remain for some time.
“The terms and conditions of natural gas markets are just not the same as they used to be,” Read more…