2017-2018 Natural Gas Price Forecast
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I. Natural gas storage levels above the 5-year average, but injection rate will fall marginally behind the 5-year average
II. Coal is getting renewed life from federal policy and power generation fuel switching to coal is especially important when natural gas goes above $3.25; High renewable power generation has displaced some gas demand in 2017
III. Drilling has increased in most major basins; production has recovered but oil price below $48 and natural gas near $3.00 are challenging producers
IV. Gelber's proprietary pricing algorithms accurately predicted 2016 prices and project an upward market for the remainder of 2017, topping out under $3.60 depending on the severity of winter weather