Friday, September 4, 2009

What a Crappy Week for Gas Prices

The Henry Hub spot price broke through the $2 mark in a big, big way, dropping 18 cents, or 8.7%, to close at $1.88.  Makes me feel queasy just to type it.  Eleven trading days ago, the prices was still above $3, so the spot price only spent ten business days in the $2 range.  That's frightening.

The near month NYMEX futures contract went the other way adding about 9%, so there is some optimism that the price will recover.  Before then, however, natgas spot market prices might go to unfathomable and sickening lows. 

Have a glorious holiday weekend.

1 comment:

bossierxroads said...

I know it seems like too many people live in denial, I know I am going insane after hearing this news, atleast I realize I am no longer of sound mind and body. Well, we gave it a try, "As I have alwaysw said, you acan produce the best dog food in the world, but if the dogs won't eat it, you can't sell it" Please pray for my mental heal;th.