Pipeline shortage drives down price of Permian natural gas

A pipeline shortage that is leaving natural gas trapped in West Texas’ Permian Basin means prices for the fuel there are “the lowest of any major U.S. hub, wresting that distinction from Appalachia’s Marcellus shale [play],” according to Bloomberg. The news service says prices for Permian natural gas have fallen 32% from a year ago, while output has risen to a record high. The pipeline crunch is also hurting the Permian’s oil market, according to Bloomberg. For more, read the full story.

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