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The ratio of crude oil to natural gas futures prices on the New York Mercantile Exchange reached its highest level in over 19 years during today's trading session.
Crude oil [US@CL.1
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()] prices at the NYMEX crossed above $74 per barrel this morning, trading at their highest level in 2009. In comparison, Natural gas [US@NG.1
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()] prices are slighly up this morning, after closing yesterday at their lowest since August 14, 2002. At the current levels, the ratio between both commodities stands at 25 to 1.
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- Looking at data going back to early April 1990, the average ratio of crude oil to natural gas futures prices stands at 9.38
- Earlier in the session today, this ratio hit as high as 25
- This ratio is now at its highest level in over 19 years
The divergence of these energy commodities has some investors forecasting that a price correction could be in place. Indeed, the average price for natural gas in the past twelve months was at $6.986 / million BTU, while the average price for crude oil over the same period stood at $61.94 / per barrel. The five year averages for the two are $7.394 and $69.55, respectively. If both commodities were to move to their averages, natural gas will have a significant move. Here are some companies that could benefit from a rebound in natural gas prices:
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Data is a real-time snapshot *Data is delayed at least 15 minutes