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NYMEX's business threatened some entrenched interests like big oil and government groups like OPEC that had traditionally controlled oil prices. NYMEX provided an "open market" and thus transparent pricing for heating oil, and, eventually, crude oil, gasoline, and natural gas.
Price per million BTU of oil and natural gas in the US, 1998-2015. Natural gas prices, as with other commodity prices, are mainly driven by supply and demand fundamentals. However, natural gas prices may also be linked to the price of crude oil and petroleum products, especially in continental Europe.
Natural gas prices surged more than 20% on Monday after a wave of forecasts over the weekend predicted incoming arctic air could set the U.S. up for the coldest January in a decade or more.
Natural gas prices have surged nearly 25% over the last month. Energy experts attribute the rise to cold weather expected in January and geopolitical issues around the globe. The cold temperatures ...
NYMEX began offering standardized natural gas contracts with delivery at the Henry Hub in April 1990. In 2011, the Henry Hub was the site of a land dispute, in which Sabine sued to condemn land near the site of their hub, and expropriate it from the Broussard family, who had owned it for generations, arguing that it was acting in the national ...
And in Europe, natural gas prices jumped to 2024 highs this past week after Ukrainian troops crossed into Russia and claimed the capture of a key gas transit hub.
Price per million BTU of oil and natural gas in the US, 1998-2015 Natural gas prices spiked to $23.86 on February 17, 2021 because of the Texas power crisis. [14] In February 2003 there was a similar spike in natural gas prices because of shortages. [15]
More good news is coming to inflation-weary drivers: Gas prices are expected to drop in 2025 for the third straight year, according to GasBuddy projections shared exclusively with CNN.