Energy Department Forecast Lowers Gas Price for 2011; Underground Storage Falls Just Short of Record; U.S. Households Will Spend Four Percent More During 'Slightly Warmer' Winter

摘要

Natural gas storage inventories are expected to top 3.7 Tcf by the end of October, 3% lower than last year but the second highest level on record, the Energy Information Administration (EIA) reported in its Short-Term Energy and Winter Fuels Outlook issued 10/13/10. The agency projects Henry Hub gas spot prices averaging $4.16/MMBtu for the fourth quarter of this year and $4.58/MMBtu next year. Moving in the opposite direction, West Texas Intermediate (WTI) crude oil averages about $80 per barrel this winter, up $2.50 from last winter, with a gradual rise to $85 in the fourth quarter as U.S. and global economic conditions supposedly improve. The National Oceanic and Atmospheric Administration (NOAA) forecasts "slightly warmer" weather this winter.