NATURAL GAS PRICES SLIDE AS SUMMER COOLING SEASON ENDS: Responding to Lower Prices, Fewer Rigs Sought Natural Gas In August

摘要

Natural gas prices have come under significant pressure as the gas market acknowledged that cooler temperatures this fall will decrease demand for gas-fired generation for air-conditioning load. According to an Energy Information Administration (EIA) report, consumption of natural gas for electric power generation was 23.6 Bcfd (0.668 × 109 m~3/d) in June, the highest level for that month for the 10 years for which data are available, and 9% higher than June of last year Recognizing the impact that electric generation has had on gas demand this year, it is clear that the likelihood of decreased demand from this sector in the upcoming fall season will likely lead to downward price pressure。