US Natural Gas Price Forecast For 2017 And Beyond
US natural gas inventories are 5.9% greater than their five-12 months average. Nevertheless, the surplus is shrinking. If the trend continues, the surplus could turn right into a petroleum equipment houston tx otc deficit—particularly if the winter is harsh. A harsh winter could cause prices to rise sharply. For more on US natural gas prices, read Part 1 of this sequence.
Greater natural gas prices have a optimistic impression on oil and fuel producers’ earnings corresponding to WPX Power (WPX), Gulfport Energy (GPOR), and Memorial Resources (MRD).
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US natural gas price forecasts
The EIA (U.S. Power Info Administration) will release its Brief-Time period Energy Outlook report on October 13, 2016. In its previous edition, it estimated that US natural gas prices would average $2.Forty two per MMBtu (million British thermal models) in 2016 and $2.87 per MMBtu in 2017.
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