Overview of Natural Gas prices in the lower 48 states

Overview:  Thursday, July 20, 2007

Natural gas spot prices decreased across the board since July 11 in almost all states.  Prices at the Henry Hub came down 41 cents per MMBtu, about 6%, since July 11, to $6.24 per MMBtu. 

At the NYMEX, the futures contract for August natural gas delivery at the Henry Hub settled on July 18 at a price of $6.528 per MMBtu, falling 7 cents per MMBtu, about 1% since July 11. 

Natural gas in storage was 2,692 Bcf on July 13, which is 16% above the 5-year average (2002-2006).  The spot price for West Texas Intermediate (WTI) crude oil gained $2.45 per barrel on the week to $75.03 per barrel or $12.94 per MMBtu.

In Texas Electricity rates followed with electric prices down to as low as .075 cents per kilowatt hour in some areas of the state.