Natural Gas Shortage, High Prices Predicted for U.S. This Winter

U.S. natural gas prices closed at a fresh six-week low of $7.75/MMBtu yesterday. The Wall Street Journal says the natural gas market has lost its bullish momentum due to a lack of hurricanes off the Texas coast. U.S. production has reached triple digits for the first time ever, topping 100 Bcf/d, as we reported yesterday (see U.S. Natural Gas Production in Lower 48 Hits 100 Bcf/d!). European natgas prices continue to drop too, sinking as much as 8.8% to their lowest level in nearly two months. And yet, we spotted a prediction that prices are about to spike again this winter--perhaps to their highest levels yet.

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