Natural Gas Price Market Slowly Recovers Amid Worst Recession Since 1931

The worst recession since 1931 continues this Spring-Summer 2009. Energy markets have recovered somewhat from crude oil prices falling into the upper 30 dollar range per barrel several months ago. On June 15, 2009, the energy markets showed the following:

Natural Gas : Natural gas for July delivery jumped 32.5 cents to settle at $4.182 per 1,000 cubic feet. For June 16, natural gas for July delivery fell 7 cents to settle at $4.312 per 1,000 cubic feet.

Crude Oil : Gas prices rose for the 48th straight day, matching a record going back to at least the 1970s, with prices now up nearly two-thirds since the beginning of the year even as demand from motorists remains weak. Benchmark crude for July delivery falling $1.42 to settle at $70.62 a barrel on the New York Mercantile Exchange. Crude prices have fallen nearly 3 percent over the past two trading days. On June 16, benchmark crude for July delivery declined Tuesday, June 16, for the third straight day, falling 15 cents to settle at $70.47 a barrel on the New York Mercantile Exchange. This fall represents oil closing above $70 for a full week, the first time that has happened since October.

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Comment by Bobi Carr ("parker") on June 16, 2009 at 5:03
weatherman,

Great blog. I wish you would post it on the main page for discussion.

I find it interesting that Natural gas futures are increasing while LNG imports are looming and even though 3% isn't much of a decrease in oil hopefully it is a sign that some uses of oil are switching to NG (wishful thinking anyway). We could all use a heathy dose of good news about now.

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