Natural Gas Price Soars Past $10 in Oklahoma

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Natural Gas Price Soars Past $10 in Oklahoma 23 Dec 2000 00:00:00

Dec. 21--Forecasts of lingering cold weather pushed the spot price of natural gas in the Mid-Continent above $10 Wednesday. The price of western Oklahoma gas under monthlong spot contracts jumped 99 cents to $10.13 per thousand cubic feet. Natural gas for January delivery mirrored the rise in spot prices as gas futures closed at $9.32, up 22 cents, on the New York Mercantile Exchange. Traders also pointed to transportation problems within Williams Cos. Inc.''s gas pipeline network. Williams is one of the largest transporters of natural gas in the country. The flow of gas in Williams gas pipeline in Mobile, Ala., was disrupted Wednesday by freezing condensation within the pipe, a Williams spokeswoman said. But the disruption did not delay any deliveries, she said. U.S. gas supplies are down 23 percent from last year, the American Gas Association reported Wednesday. Low gas supplies and frigid temperatures have combined to push the price of western Oklahoma gas up 66 percent over the past month. U.S. inventories for the week ending Dec. 15 fell 158 billion cubic feet to 2.1 trillion cubic feet. ----- To see more of the Tulsa World, or to subscribe to the newspaper, go to http://www.tulsaworld.com.

http://worldoil.com/News/NewsStory.asp?ID=3557

-- Martin Thompson (mthom1927@aol.com), December 24, 2000


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