Natural Gas Prices At Lowest Levels In Seven Years:
Natural gas tumbled 4.5 cents to $2.865 per 1,000 cubic feet during Thursday, Aug. 27th. The price of natural gas dropped as low as $2.692 per 1,000 cubic feet earlier on Aug. 27, a price not seen since Aug. 7, 2002. Also, during Aug. 27, benchmark crude for October delivery added $1.06 to settle at $72.49 a barrel on the New York Mercantile Exchange.
During morning trading on Sept. 3, natural gas for October delivery fell 18.6 cents to $2.529 per 1,000 cubic feet. The price of natural gas had dropped as low as $2.518 per 1,000 cubic feet. This amount represents the lowest price for natural gas since March 2007. The government reported on Sept. 3 that U.S. natural gas supplies grew again last week and are now nearly 18 percent above the five-year average.