The ratio of crude oil to natural gas futures prices on the New York Mercantile Exchange reached their highest level since mid-July 1991 during yesterday's trading session. Oil closed the pit session at $68.09 / bbl and Natural Gas closed at $3.731 / million BTU for a ratio of 18.25 to 1 between the commodities. So far this morning, both commodities are trading up with the ratio roughly the same.
- Looking at data going back to early June 1990, the average ratio of crude oil to natural gas futures prices stands at 9.256
- Earlier in the session yesterday, this ratio hit as high as 18.55
- The last time this ratio crossed above 18.55 was in July 1991