Gas Use Soars, but Prices Remain Low

Bloomberg reported that although US power companies used 34 percent more gas this February than they did last year during the same period, gas prices have not gone up.

As quoted in the market news:

The historic switch to gas is set to peak this year without fulfilling industry predictions that it would eat up inventory and drive up gas prices. That’s because unparalleled output from new shale fields is oversupplying the $95 billion U.S. gas market, postponing relief for hundreds of producers.

Click here to read the full Bloomberg report.