Natural Gas Prices Remain at 10-Year Lows
On Tuesday, March 27, 2012 Natural gas futures ended the day to fall 1.8 cents to $2.21 per 1,000 cubic feet after dropping 5 cents on Monday, Mar. 26th. Natural gas supplies are currently more than 50 percent above the five-year average for this time of year.
On Monday, March 12, 2012: Natural gas futures price fell to a new 10-year low, falling by 5.5 cents to end at $2.27 per 1,000 cubic feet in New York.
Natural gas futures fall to 10-year lows during the week of March 9, 2012:
On Monday, March 5, 2012, during morning trading, natural gas futures would fall 7.3 cents to $2.411 per 1,000 cubic feet. When trading ended for the day, natural gas had lost13 cents to finish at $2.36 per 1,000 cubic feet. Demand destruction caused by a mild winter for most of the USA and over supply production amounts.
On March 8, 2012, the United States Energy Department said the amount of natural gas in storage in the U.S. fell 80 billion cubic feet to 2.433 trillion cubic feet last week. This figure is 48.3 percent more than the five-year average. On that news, natural gas futures would fall 3 cents to finish at $2.272 per 1,000 cubic feet in New York. That price is the lowest level in 10 years. The price has fallen about 27 percent this year and is at the lowest level in a decade. So, on Thursday, March 8, 2012...NYMEX Natural Gas Futures for April delivery closed down $0.030 at $2.272 per MMBtu.
By March 9, 2012: Natural gas futures would rise by 5 cents to end at $2.32 per 1,000 cubic feet.
Crude Oil Futures:
ICE North Sea Brent Blend for April delivery closed up $0.54 at $125.98 per barrel on March 9, 2012; NYMEX West Texas Intermediate Crude Oil for April delivery closed up $0.82 at $107.40 per barrel on March 9, 2012.