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Since Wednesday, August 15, all prices reported in the weekly chart (for both naturalgas and crude oil) have decreased as Hurricane Dean failed to have a significant impact on domestic production in the Gulf of Mexico, and temperatures moderated demand. Naturalgas volumes in storage continue to increase.
Since Wednesday, August 29, naturalgas spot prices increased in most markets (exceptions were Florida and Rocky Mountain region). Commodity Price or Volumes Change since last % Change NaturalGas Spot (Henry Hub) $5.81/MMBtu NaturalGas in Storage 3,005 Bcf UP 36 Bcf 10.4%
The Energy Information Agency reported as follows in its September 13, 2007, report: Since Wednesday, September 5, naturalgas spot prices increased as tropical storms threatened to disrupt supplies and pipeline explosions in Mexico stirred concerns of supply security. MMBtu UP $0.32
The proposed rule extends deep gas royalty relief to GOM leases in 400 meters of water (up from the current limit of 200 meters), and would increase the royalty suspension volume to 35 Bcf for qualifying ultra-deep wells at least 20,000 feet total vertical depth subsea in less than 400 meters of water.
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