Spot crude prices near 12-month high; natural gas and power prices near 12-month low
TODAY IN ENERGY: Thursday, April 5, 2012
Key wholesale energy price benchmarks for crude oil, natural gas, and electric power reflect contrasting trends over the past year. International events have contributed to higher wholesale crude oil prices, whereas high levels of domestic natural gas production coupled with mild weather and record storage inventories have lowered wholesale natural gas prices. Because natural gas remains the marginal fuel in most electric power markets and because low heating and cooling demand in recent weeks have reduced electricity demand, electric power prices remain low as well. The figures above compare recent weekly price ranges (for March 29, 2012 - April 4, 2012) to the range of wholesale prices during the past year.