Big Freeze Threatens Texas With Blackoutshttps://www.bloomberg.com/news/articles/2021-02-14/deep-freeze-sends-gas-soaring-to-600-over-the-long-u-s-weekend About 800 daily records for cold temperatures have been set in the past week as Arctic air pushes all the way to the Gulf of Mexico, sending gyrations through energy markets.
Spot prices for electricity in Texas are expected to hit the grid’s cap of $9,000 per megawatt hour.
Natural gas rose to a record $600 per million British thermal units in Oklahoma.
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as much as half a million barrels a day of oil output in West Texas may be impacted by well shutdowns that began on Thursday because of the extreme cold.