The price of natural gas hit heights not seen since 2008 this week and analysts say it could go even higher this summer.
The U.S. benchmark natural gas price hit is currently trading at around US$8.60 per million British thermal units, or MMBtu. It surged to over $9 earlier in the week.
Get daily National news
Get the day's top news, political, economic, and current affairs headlines, delivered to your inbox once a day.
By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy.
Analysts say the price could break $10 this summer due to low inventories and global concerns about energy security.
Summer heat waves could also push prices higher by driving up electricity demand.
The surging prices are good news for Western Canada, where the country’s natural gas production is concentrated.
But an industry group says labour shortages remain an ongoing challenge for drillers.
- 3 people targeted in ‘serious assault’ at Calgary Stampede, police say
- Salary range for Calgary’s top city bureaucrat sees 36% top-end increase
- As summer travel gets underway, Alberta has highest measles cases per capita in North America
- Canada’s wildfire smoke ‘suffocating,’ needs ‘better’ management: U.S. reps
Comments