29 July
Dallas Fed forecasts $3.66 US gas price in six months
According to a Federal Reserve Bank of Dallas survey of 116 oil and gas executives, US natural gas prices are expected to reach $3.66 per million British thermal units (MMBtu) in six months, climbing to $3.81 in one year and $4.12 in two years. The long-term outlook suggests prices could rise to $4.50 MMBtu within five years.
Meanwhile, Enverus Intelligence Research (EIR) has maintained its existing price forecasts, anticipating an average summer price of $3.60 MMBtu followed by a winter increase to $3.85. However, analysts caution that current rapid storage replenishment could exert downward pressure on short-term prices.
EIR Director Al Salazar highlighted that at the current weekly injection pace, US gas storage volumes are on track to comfortably exceed 4 trillion cubic feet by October's end.
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