Higher NatGas Prices on the Way – Rystad Predicts $2.91 Avg 2H23 - Marcellus Drilling News
Higher NatGas Prices on the Way - Rystad Predicts $2.91 Avg 2H23 | Marcellus Drilling News
A Rystad Energy analyst says strong supplies and cool temps kept the price of natural gas low over the past few months–but that’s about to change. Rystad says new modeling shows a bump up in temps coming, and with it, a bump in the price of domestic natural gas. How much? Rystad believes the Henry Hub price will average $2.91/MMBtu for the remainder of 2023 (the latter half of the year). Which ain’t all that much if you ask us…but better than prices bumping around in the low $2 range as it has been since January.
Related Knowledge Center: ENERGY BASICS: petroleum
While electric-powered vehicles may be the ride of the future, oil remains at least for now the dominant fuel for transportation around the world. And after a period of time at the end of the 20th century when oil was subject to wide fluctuations in price, new supplies in North America as a result of non-conventional recovery techniques have helped stabilize prices.