Natural gas prices had a historic run last week as Winter Storm Uri moved across the United States. The storm overwhelmed power grids and immobilized the South while carrying heavy snow and freezing rain into the Northeast. Extreme cold weather triggered blackouts and caused liquids to freeze in pipes forcing wells and processing plants to shut. EIA reports that dry natural gas production fell by 21 billion cubic feet per day (Bcf/d), declining from 90.7 Bcf/d on February 8th to about 69.7 Bcf/d on February 17th (according to data from IHS Markit). Unusually strong winter season heating demand combined with the dip in production sent prices skyrocketing over President’s Day weekend and slowly fell throughout the week. Follow the link below to read more.