Natural gas prices are expected to be “volatile” across the United States as the winter heating season begins amid uncertainty about the weather, according to the U.S. Energy Information Administration (EIA). In its November Short-Term Energy Outlook (STEO), published Tuesday, the EIA estimates that U.S. natural gas storage levels had risen to within 3 percent of the previous five-year average at the end of October. But extreme cold weather in February also led to lower-than-average natural gas storage levels across the nation throughout the summer. “Mild weather has limited natural gas consumption and helped bring our storage levels closer to average in recent weeks, but cold winter weather could continue to put upward pressure on prices,” said EIA Acting Administrator Steve Nalley. “Winter temperatures will be the key driver of natural gas demand, inventories, and ultimately prices.” While natural gas prices remain relatively high, EIA notes that the U.S. electric power sector continues to use …
Natural Gas Prices Expected to Be Volatile This Winter Amid Uncertainty About Weather: EIA
November 10, 2021
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