EIA hikes gas price outlook for Q3 on oil prices, sagging LNG receipts

摘要

The Energy Information Administration on Tuesday hiked its third-quarter US gas price projection by 13% to $13.32/Mcf, citing increasing pressure on the market from skyrocketing oil prices and flagging LNG receipts.rn"Despite significant onshore production growth, the natural gas market continues to be pressured by high oil prices, low LNG imports, and a widening year-over-year storage deficit," EIA's July short-term energy outlook said.rnThe agency noted that the spot price averaged $13.07/Mcf in June, $1.42 more than the average May price. Summer cooling demand was strong in June, with cooling degree-days coming in at 15.7% higher than in the same month of last year and 23% higher than the long-term average, increasing gas use in the electric power sector.