Eia Hikes Q2 Gas Price Forecast 16%, Notes Cool Weather, Surging Oil Prices

摘要

Cool weather, flagging imports and a surging oil market are driving up natural gas prices as the US enters the summer cooling season, the Energy Information Administration said Tuesday as it raised its projected second-quarter Henry Hub spot price by 16% to $10.20/Mcf.rnIn its May short-term energy outlook, EIA also raised its full-year 2008 forecast by $1.11/Mcf, or 13%, from a month earlier to $9.70/Mcf, nearly $2.50/Mcf higher than the 2007 average.rnA confluence of broad, persistent conditions in the energy markets are ramping up the pressure on prices, and seasonal conditions could add to that pressure, EIA said. "Uncertainty over natural gas demand by the electric power sector during the summer and the possibility of hurricane-related supply disruptions later this year could impact spot prices in the coming months," said the report.