A close-up of flames on a gas stove. (Getty Images)
The price of natural gas hit heights not seen since 2008 this week and analysts say it could go even higher this summer.
The U.S. benchmark natural gas price hit is currently trading at around US$8.60 per million British thermal units, or MMBtu. It surged to over $9 earlier in the week.
Analysts say the price could break $10 this summer due to low inventories and global concerns about energy security.
Summer heat waves could also push prices higher by driving up electricity demand.
The surging prices are good news for Western Canada, where the country's natural gas production is concentrated.
But an industry group says labour shortages remain an ongoing challenge for drillers.
This report by The Canadian Press was first published May 27, 2022.
Prime Minister Justin Trudeau is defending Canadian military spending after a new NATO report this week showed Canada heading in the wrong direction.
Tamara Lich, one of the organizers of the Freedom Convoy, has been arrested in Alberta for alleged breach of bail conditions, CTV News has learned.
With the overturning of Roe v. Wade opening the door to abortion bans in the U.S., Canadian Tiktokers are welcoming Americans who are considering travelling north of the border to get an abortion.
An Ontario community is reeling after a 23-month-old boy died when he was accidentally left in a hot car outside the school where his mother taught, the mayor says.
Prime Minister Justin Trudeau announced more money for Ukraine -- including a $200-million loan through the International Monetary Fund -- at the end of the Group of Seven leaders' summit in Germany.
A 101-year-old man was convicted in Germany of 3,518 counts of accessory to murder on Tuesday for serving at the Nazis' Sachsenhausen concentration camp during the Second World War.
Ontario Premier Doug Ford defended his decision Monday to name his nephew minister of citizenship and multiculturalism, saying the newly elected legislator has spent years representing one of the most diverse communities in the province.
Ontario's police watchdog is investigating after Ottawa police officers shot and killed a man and injured a woman while responding to the stabbing deaths of two women.
Following the U.S. Supreme Court's decision to overturn Roe v. Wade, a number of states south of the border have stopped performing abortions. If you're a Canadian who has had an abortion, CTVNews.ca wants to hear from you.
Six large model planes worth more than $50,000 in total were stolen in Fort Saskatchewan earlier this month.
Alberta Finance Minister Jason Nixon is to deliver today the final numbers on the 2021-22 budget amid higher than expected oil prices.
Warming up this afternoon with some sunshine...and then back to wet weather tonight and early Wednesday. Temperatures should get back into the low 20s in Edmonton this afternoon with a high of 22 or 23 degrees.
One person is dead after a serious crash along the Burnaby-Vancouver border.
A British Columbia man who was seen by witnesses and caught on camera trying to light a fire in a forest during a particularly devastating wildfire season has been released from jail following sentencing.
A Vancouver neighbourhood waiting more than a decade for a promised pool may finally be getting what residents have been hoping for.
Several workers are injured after part of a building under construction collapsed in Moncton, N.B., Tuesday morning.
Police say the body of a 21-year-old man who disappeared while swimming at a lake in Dartmouth, N.S., has been recovered.
After a weekend full of rallies and protests across North America, the outrage after the U.S. Supreme Court's decision to overturn Roe V. Wade hasn’t died down.
With just over two weeks to go until Langford, B.C.’s inaugural beer festival, organizers are offering up a taste of what’s in store as they reveal the list of breweries that will be on tap.
Community members are hoping to remake the 40-year-old Oceanside track and field facility, which has not had any proper maintenance in the past 20 years and is in dire need of replacement, according to fundraisers.
An unusual sight in the skies over Vancouver Island on Saturday sparked conspiracy theories online.
Multiple people have been injured after an early morning shooting in Scarborough.
Ontario's police watchdog is investigating after Ottawa police officers shot and killed a man and injured a woman while responding to the stabbing deaths of two women.
Ontario's NDP is set to name an interim leader later today to replace Andrea Horwath and the party is expected to select a longtime Toronto caucus member.
Montreal-raised comedian Nick Nemeroff died on Monday, leaving comedy fans across Canada grieving. He was 32.
Montreal police have arrested their first suspect in the homicide of 15-year-old Meriem Boundaoui that happened almost a year-and-a-half ago.
The Montreal police's anti-gang squad has seized 'a significant quantity' of weapons and drugs in a joint-department operation running from Toronto to Quebec.
Ontario's police watchdog is investigating after Ottawa police officers shot and killed a man and injured a woman while responding to the stabbing deaths of two women.
Tamara Lich, one of the organizers of the Freedom Convoy, has been arrested in Alberta for alleged breach of bail conditions, CTV News has learned.
City of Ottawa staff and the Ottawa Police Service are ensuring residents that planned protests on Canada Day will not devolve into the kind of occupation that residents endured this past winter.
As eviction day at a downtown Kitchener encampment looms, the region is doubling down that no one will be forcibly removed from the site on June 30 – the date it has said everyone living there must leave by.
Evidence of gunfire has been found in the area of Avalon Place in Kitchener.
The decision to not allow a WRDSB trustee in board meetings until Sept. 30 remains.
Two men convicted in the death of Allan Garrioch apologized at Saskatoon’s Court of Queen’s Bench on Monday.
Holiday Park Golf Course turned 60 years old on Monday morning, and just like the day it first opened when Mayor Sid Buckwold took the first swing, Mayor Charlie Clark was on hand to tee off with a couple of shots.
Saskatoon's wastewater treatment plant struggled to keep up during the June 20 rainstorm that battered the city.
The city of Greater Sudbury Fire Services is at the scene of an office fire on Kelly Lake Road in Sudbury.
Forty-eight people died after being abandoned in a tractor-trailer in the sweltering Texas heat, one of the worst tragedies to claim the lives of migrants smuggled across the border from Mexico to the U.S. More than a dozen people had been taken to hospitals, including four children.
Tamara Lich, one of the organizers of the Freedom Convoy, has been arrested in Alberta for alleged breach of bail conditions, CTV News has learned.
J.W. McDonald Auto Service has had a few names over the years but it has always been able to provide vehicle service to Winnipeggers. But now, the Exchange District staple is gearing down and set to close its doors for good.
Prime Minister Justin Trudeau announced more money for Ukraine -- including a $200-million loan through the International Monetary Fund -- at the end of the Group of Seven leaders' summit in Germany.
With summer now in early bloom, so too are strawberry fields across Manitoba.
The body of a 19-year-old man who went missing while swimming at the public beach in Buena Vista, Sask. on Last Mountain Lake has been recovered, according to RCMP.
New Saskatchewan NDP Leader Carla Beck is looking to the people of the province to help form some of the party's next policies, as it enters a new chapter facing a significant Saskatchewan Party majority.
Canadian Olympic soccer player Stephanie Labbé was in Regina Monday night for her cross-country “Champions Tour.”
