GAZB - Historic freeze causes price spikes for western U.S. gas markets electricity

Spot natural gas (NG1:COM) prices across much of the western U.S. soared to record highs today, as Arctic weather fueled extreme localized demand, S&P Global Platts reports.Hubs across the Midcontinent led the surge, as weather forecasts predicted the coldest temperatures in more than a decade would hit the region over the weekend.At locations across Kansas, Oklahoma and eastern Arkansas, hub prices traded at single-day record highs of $200-$300/MMBtu.Cash prices at the Permian Basin's benchmark Waha location climbed to an all-time high of $158.52/MMBtu.Spot gas prices in the Rockies also soared to all-time records of $182.53/MMBtu at Cheyenne and $172.20/MMBtu at CIG, Rockies.Records were set in the Midcon market, including $122/MMBtu at Chicago city-gates and $203/MMBtu at Natural Gas Pipeline-Nipsco.Houston-area prices also hit all-time highs, with Houston Ship Cjannel rising to $182.04/MMBtu and Katy Hub reaching $127.52/MMBtu.ETFs: [[UNG]], [[UGAZF]], [[DGAZ]], [[BOIL]], [[FCG]], [[KOLD]], [[UNL]], [[GAZ]], [[GAZB]]Frigid temperatures caused equipment failures, temporarily shutdowns

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Historic freeze causes price spikes for western U.S. gas markets, electricity