Natural gas prices skyrocketed this week, shooting above $4.80 per MMBtu on Wednesday, a price last seen during the polar vortex of 2014. Low gas inventories are leaving the market on edge, and volatility has roared back to the market. In this column only a week ago, I marveled at prices soaring to $3.50/MMBtu, which marked a 15 percent increase over the prior two months. However, in the last seven days, prices are up a further 30 percent. The factors behind the price increase are the same as they have been for quite a while now. U.S. natural gas inventories are at a 15-year low for this time of year, just as we head into the winter drawdown season. U.S. natural gas inventories stood at 3,247 billion cubic feet (Bcf) for the week ending on November 9, or 528 Bcf less than at this point in 2017, and 601 […]