GAZB - Oklahoma natural gas prices plunge as supply recovers

The worst of the squeeze on natural gas supplies may have passed, as supply for next-day delivery at the Oneok ([[OKE]] -2%) Gas Transportation hub in Oklahoma traded at ~$10/MMBtu today, down from $1,250 yesterday, as temperatures begin to rise in Texas and neighboring states following several days of Arctic conditions.Data from state grid operator Ercot shows electricity demand above 50 GW for the first time since Monday, as fewer blackouts are needed to keep the system stable.~525K homes and businesses in Texas were without power this morning according to Poweroutage.us, from more than 3M yesterday.Nymex natural gas futures (NG1:COM) also are dropping, with front-month March gas -3.9% to $3.093/MMBtu.Weather forecasts see much more normal conditions next week, as the cold blast ravaging Texas and other southern states recedes.ETFs: [[UNG]], [[UGAZF]], [[DGAZ]], [[BOIL]], [[FCG]], [[KOLD]], [[UNL]], [[GAZ]], [[GAZB]]Natural gas-focused stocks are giving back some of their recent gains: [[AR]] -10.7%,

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Oklahoma natural gas prices plunge as supply recovers