The effects of the Canadian cold spell continue to trickle down to the US Midwest, slashing exports to the region while propelling prices higher. Receive daily email alerts, subscriber notes & personalize your experience. Register Now A cold snap in Western Canada has driven record demand and sharp production freeze-offs over the past 10 days. Exports to the US Midwest fell dramatically, to as low as 2.2 Bcf/d from 3.8 Bcf/d prior to the cold snap, according to S&P Global Platts Analytics. The Chicago prompt-month basis contract quadrupled as this happened, as traders feared a cold snap in the Midwest could send Chicago prices shooting skyward similar to AECO. The prolonged and deep cold snap across Western Canada has led to a major drop in gas exports to the US Midwest. Right as the frigid temperatures in Western Canada cut exports, the same cold front drove freeze-offs in the […]