For much of early February, warmer than normal temperatures in the east have not been offset by winter weather in the Mountain states and Midwest sufficiently to create significant upward pressure on natural gas prices. Modest storage withdrawals and resulting strong inventories for this time of year are a factor as well. In fact, the Energy Information Administration continues to project relatively low, but growing, natural gas prices in their short- and medium-term outlook. They see Henry Hub natural gas averaging $2.64 per Mcf in 2016, increasing to $3.22 per Mcf on average for 2017.
Visit this link to download the full Natural Gas Market Indicators report. Topics covered in this week’s report include: Reported Prices, Weather, Working Gas in Underground Storage, Natural Gas Production, Shale Gas, Rig Counts, Pipeline Imports and Exports, and LNG Markets.
Please direct questions and comments to Chris McGill at cmcgill@aga.org or Richard Meyer at rmeyer@aga.org.
