In the last Natural Gas Week Quarterly Price Scoreboard analysts pulled back 5% on 2014 price forecasts, dropping from $4.01 to $3.88 per thousand cubic feet, with the highest forecast at $4.75 (NGW Nov.11'13). The pullback made sense because of expectations for a warm November and a growing flood of Marcellus Shale supply — one analyst put the 2014 wellhead price at $3.45. But reality has a way of upending forecasts. The latter half of November saw much of the US enveloped by the coldest weather since 1955. And the frigid conditions that persisted in December and so far in January have only been punctuated by brief warm-ups.
展开▼
