Natural gas prices: EIA says they are going higher

[dan_s]

EIA starting to see what I have been telling you for months.

In its January 2017 Short-Term Energy Outlook (STEO), EIA expects the Henry Hub natural gas spot price to average $3.55 per million British thermal units (MMBtu) in 2017 and $3.73/MMBtu in 2018, both higher than the 2016 average of $2.51/MMBtu. Higher prices in 2017 and 2018 reflect natural gas consumption and exports exceeding supply and imports, leading to lower average inventory levels.

Read: http://www.eia.gov/todayinenergy/#.WIYD7tN2Z2c.aolmail

I think we will see natural gas move over $4.00/MMBtu sometime this year. If natural gas in storage is below the 5-year average in early April, it should happen this summer.

[dan_s]

Per EIA:
Dry gas production in the U.S. has declined by 2.66 Bcf per day from Q3 2015 to Q3 2016. < This is the last full quarter of actual production data on the EIA website.

Check for yourself at http://www.eia.gov/dnav/ng/hist/n9070us2m.htm