Natural Gas Prices Drop to Lowest Level in Over 25 Years

An Economic Indicators Update from the Wyoming Economic Analysis Department summarizes that springtime has seen a strong labor market and high oil prices for 2024, but decades low natural gas prices are weighing down mineral revenues.

Their report highlights employment growth at 2.8% -- the 11th consecutive month the unemployment rate has been below 3%.

Oil prices climbed above $80/bbl for the first time this year.

However, sales and use tax collections in March declined year-over-year for the first time in almost three years.

Natural gas prices have dropped to the lowest level in over 25 years.

Severance tax collections for the fiscal year of 2024 were lower than a year ago.

Read the full report here.