2012 NBA standings: Rockets settle in middle of the pack in Western Conference

The Houston Rockets (7-8) dipped back below .500 after losing to the Oklahoma City Thunder on Wednesday night. The loss snapped a three-game winning streak by the Rockets which helped keep them among the playoff contenders in the Western Conference.

The Rockets currently reside in third place in the Southwest Division, 5.5 games behind the Memphis Grizzlies. The San Antonio Spurs trail the Grizzlies in the Southwest by a half game.

At 12-2, Memphis also leads the Western Conference standings with a half game advantage over the Spurs and Thunder. The Rockets are one of three teams essentially tied for eighth place in the conference. The Minnesota Timberwolves have an identical 7-8 record while the Denver Nuggets enjoy a percentage points lead with a 8-9 record.

Five teams including the Los Angeles Lakers in seventh place and the Dallas Mavericks in 11th place are all within one game of each other.

In the Eastern Conference, LeBron James and the Miami Heat made their way to the top of the standings thanks to five consecutive wins. The New York Knicks and Brooklyn Nets follow the Heat by just a half game in the East.

Here is a look at the full NBA standings.