-- "Home heating costs for many Americans will be lower this year. Natural gas futures closed on Friday at $3.58 for a million British thermal units, down 20% from early June (see chart, data here
). In a typical November, natural gas prices start rising in anticipation of higher demand, but this year a supply glut is weighing on the market. It has been 10 years since prices were this low heading into the winter."
MP: The chart above shows inflation-adjusted natural gas futures prices back to 1994. November futures prices of $3.58 are 14% below a year ago, 39% below two years ago, about half of the price in November 2008 of $7.13 and well below the average real price of natural gas futures contracts over the last decade of $6.73. Welcome to the shale gas revolution.