Natural Gas has come down in July 2007 due to energy traders
The Henry Hub Spot Price of $6.15 per MMBtu on Friday (July 6) was at its lowest price since January of this year. This was followed by 3 consecutive price increases causing the report week to show a net increase making the week look quite bad as far as a natural gas price spike goes. So even though Natural gas spiked we still see what is the lowest price in natural gas in months.
The Henry Hub price on July 11 2007 was $6.65 per MMBtu, or 36 cents more than last weeks. As of today the price is at $6.34 per MMBtu keeping natural gas at very low levels. The weather is hot hot hot in Texas and the air conditioners are roaring but the natural gas and electricity prices are looking pretty good!
Although price decreases characterized much of the springtime, there are factors that could lead to rising prices this summer. Being only 3 weeks into the official summer season, plenty of time remains for episodes of hot temperatures in the next few months. Competing petroleum products (as evidenced by an increase in the underlying crude oil price) continue to trade at near-record prices. We also have hurricane season to deal with although so far we don’t see anything too serious in our wake.
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July 17th, 2007 at 4:10 pm
I think natural gas will come down even further maybe to as low as $7 MMBtu in the Texas region.
August 2nd, 2007 at 2:57 pm
Driving to work can eat a way a lot of gas from all the stops and starts. If you are on the highway and driving without very many stops you will actually save more gas then when in stop and go traffic. When you are stuck at a light you can turn your car off if you are there for an extended period of time. These and many more options are available to save money ongas.
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