Winter Is Coming: $13 Natural Gas Prices?
Natural gas prices have been on a tear in 2022, skyrocketing about 150 percent year to date to above $9 per million British thermal units (MMBtu) on the New York Mercantile Exchange.
But could the so-called “bridge fuel” reach $13 MMBtu this winter? It may be possible, said Laird Dyer, an Energy Analytics consultant, who spoke in front of an audience at the LDC Gas Forum Rockies & West on Aug. 16.
“We could see some pretty horrific numbers,” he warned.
The latest data and international developments might lend some support to dire double-digit prognostications.
Higher Natural Gas Prices Coming?
This summer, according to weekly storage data from the Energy Information Administration (EIA), the United States has witnessed sizable supply injections. So far, the lowest builds were 15 billion cubic feet (bcf) and 18 bcf in the weeks ended July 24 and Aug. 12, respectively….