Households Brace for Higher Winter Heating Costs as Natural Gas Prices Vault

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The relentless rise in natural gas prices continued on Oct. 6, highlighting the looming threat to U.S. households bracing for higher heating costs in the event of a harsh winter.

U.S. natural gas futures were up 1.11 percent at $6.312 per million British thermal units (mmBtu) in early trading on Oct. 6 after jumping around 9 percent a day earlier to settle at $6.312 per mmBtu, their highest level since 2008.

While gas prices in Europe and Asia have more than tripled this year, the United States has largely been shielded from the global crunch because of plentiful supplies. While U.S. natural gas is trading around the $6 per mmBTu mark, it’s at around $30-plus in Europe and Asia.

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