No.52/ No. 01

25-Dec.-2000/1 Jan. 2001


US Gas Market Tightness Reaches Strangulation Point

While oil prices are tumbling, the US natural gas market is witnessing record high prices with no early downturn in sight. On the NYMEX exchange on 19 December, month-ahead gas futures rose from $8.78/mn BTU which on an oil equivalent basis would give a crude price of $52.68/B to $9.13/mn BTU on fears of continuing cold weather across the US. On 20 December the gas price rose further...