Natural gas prices will remain high
By Purchasing Staff -- Purchasing, 8/1/2005 6:00:00 AM
Natural gas prices will remain high into this winter, according to the chief executive of Indiana's largest utility. "There is a growing demand for natural gas in the U.S. and we anticipate the balance between supply and demand will remain tight through the winter heating season," Mark Maassel, president of Northern Indiana Public Service Co. tells a regional natural gas forum last Friday.
Natural gas prices have increased throughout the summer because of high demand from electric generators and other users, according to the Energy Information Agency, whose short-term forecasts also suggest high prices ahead. Last month’s national average for natural gas delivered to industrial customers was $7.67 per thousand cubic feet. Futures contracts on the New York Mercantile Exchange for August delivery were trading last week at $7.67 per million British thermal units—equal to $8.09 per thousand cubic feet. The EIA forecast: "The natural gas market is likely to stay tight over the next few months when summer cooling demand is at its height. Prices are then projected to rise even further as the winter heating season boosts natural gas demand."
Now Playing:
Natural gas supplies set new record
10/05/2009Further slippage ahead in natural gas prices
08/19/2009Natural gas prices hit two-year low
09/15/2006Natural gas prices continue to decline
07/29/2009
