US EIA Cuts Fuel-worth Estimate And Provide Outlook For 2017 – Natural Gas
The US Power Info Administration slashed its gasoline price estimates for 2012, decreasing its Henry Hub outlook for the primary quarter of 2012 by 25 cents to $3.29/MMBtu and chopping its 2012 estimate by 17 cents to $three.Fifty three/MMBtu.
“The present forecast for 2012 natural gas prices is significantly lower than right now liquid fertilizer injector pumps last yr, as continued growth in manufacturing and a really warm begin to the winter have contributed to document-excessive natural gas inventories,” EIA said in its Quick-Time period Power Outlook on Tuesday.
The brand new numbers are a stark contrast to the administration’s predictions at this time last 12 months, when EIA had liquid fertilizer injector pumps projected prices would rise to $four.50/MMBtu in 2012.
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Fuel costs averaged $four/MMBtu in 2011, just shy of EIA’s year in the past projection of $4.02/MMBtu for the yr. The administration also unveiled its first projection for 2013, which pegged average Henry Hub prices at $4.14/MMBtu.