Natural Gas Prices Slump

Brian Hicks

Written By Brian Hicks

Posted April 11, 2012

The boom in natural gas production has created steady, above average supplies of natural gas, sending prices south. 

The government reported gas inventories were up 1.4 percent by a net gain of 42 billion cubic feet last week to 2.479 trillion cubic feet, levels that are over 60 percent higher than the five-year average. 

The upsurge in supply induced a dramatic downturn in prices, falling as low as $2.08 late Thursday morning in New York.

The good news is that the surplus in supplies, combined with the mild weather this past winter, will cut electric bills for a good number of U.S. homeowners. 

Analysts expect the pleasant spring weather to continue over the next few months, which will further drive down prices. 

Meanwhile, benchmark crude was up $1.84 to $103.30 a barrel while Brent crude rose 78 cents to $123.12 a barrel. 

The current national average of $3.936 per gallon of gasoline is the highest it’s ever been for this time of year, with analysts anticipating it could continue to rise to an unprecedented $4.35 a gallon by the end of this month. 

That’s all for now, 


Angel Publishing Investor Club Discord - Chat Now

Brian Hicks Premium


Hydrogen Fuel Cells: The Downfall of Tesla?

Lithium has been the front-runner in the battery technology market for years, but that is all coming to an end. Elon Musk is against them, but Jeff Bezos is investing heavily in them. Hydrogen Fuel Cells will turn the battery market upside down and we've discovered a tiny company that is going to make it happen...

Sign up to receive your free report. After signing up, you'll begin receiving the Energy and Capital e-letter daily.