Texas Natural Gas Prices Sink Close To Zero ...Middle East

OILPRICE - Economy
Texas Natural Gas Prices Sink Close To Zero
source : OILPRICE ( Middle East ) () 18
While U.S. natural gas futures gained more than 4% on Monday, natural gas in the Waha part of the Permian Basin was falling and trading close to zero, traders told Bloomberg on Monday. Flourishing natural gas production in the Permian has swamped pipelines, putting an undue burden on takeaway capacity, resulting in an oversupply situation that has caused natural gas prices to sag to as low as 20 cents per MMBTU, traders have reported, and up to 70 cents per MMBTU. That compares with overall U.S. natural gas futures that are trading at more than…

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