Current Data
3-Year Forward Crude to Gas Ratio
18.44 0.13
Last updated: July 17, 2026 05:59

3-Year Forward Crude to Gas Ratio

3-Year Forward Crude to Gas Ratio – NYMEX 3-Year Forward strip crude oil futures divided by NYMEX 3-Year Forward strip natural gas futures. This is the same Crude-to-Gas ratio described in the first graph, except calculated for the average futures prices of gas and crude. Why 3-Year Forward? Its far enough into the future to reflect the big changes coming in the gas and crude markets over the next five years. This ratio will be an early indicator when and if the market starts to change its opinion of the long term value of the Crude-to-Gas ratio.

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U.S. oil and gas rig count edged up one rig to 581 for the week ending July 10 according to Baker Hughes data, as gains in the Eagle Ford (+3) and Gulf of Mexico (+3) eclipsed a five-rig decline in Permian, with all other basins unchanged. Oil-directed rigs were unchanged at 445 and gas-directed rigs were unchanged at 126, while miscellaneous rigs climbed to 10 (+1). Total U.S. rig count is up 36 over the last 90 days and now stands 44 rigs above this week in 2025.