US natural gas soars as cold grips homes, drillers
Natural gas soars as frigid US winter limits production; demand for heating, electricity rises
Associated Press
2014-01-25 03:01 AM

NEW YORK (AP) -- America's frigid winter of 2014 is setting the price of natural gas on fire.

Record amounts of natural gas are being burned for heat and electricity -- and it's so cold that drillers are struggling to produce enough to keep up with the high demand.

Friday, the price rose within a whisper of $5 per 1,000 cubic feet(28.32 cubic meters), the highest level since June 2010. It's gained 25 percent in the past two weeks.

Natural gas is used by half of U.S. households for heating, making it the most important heating fuel.

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