July Gas Prices Lowest In Seven Years

摘要

Natural gas continued its downward slide in July, with spot gas averaging $2.90 per gigajoule at AECO, the lowest monthly price since $2.11 per gigajoule in July 2002. Record storage levels from the surge in United States shale gas production and a reduced demand due to the current reces-sion have weighed on prices, dashing any hope of an immediate recovery as prices slid a further 13 cents a gigajoule, or four per cent, from June's AECO average of $3.03 per gigajoule. The July price was just over one-third of the average $9.03 a gigajoule gas producers received a year earlier.