Despite failing miserably in their prior $8/MMBtu gas price predictions for this summer and fall (see NGI, July 5), analysts at Raymond James & Associates said in their “Stat of the Week” that once the weather returns to normal, bullish gas market fundamentals will again push prices sharply higher. Meanwhile, other forecasters are saying the opposite, predicting prices will collapse this fall (see related story).
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Raymond James Raises Gas Price Projections for 2005 Despite Overshooting Current Prices
Despite failing miserably in their prior $8/MMBtu gas price predictions for this summer and fall (see Daily GPI, June 29), analysts at Raymond James & Associates said in their “Stat of the Week” that once the weather returns to normal, bullish gas market fundamentals will again push prices sharply higher. As a result, the analysts have raised their gas price forecast for 2005 yet again to $6.65 from $6.25. They also bumped up their crude oil price forecast for the fourth quarter to $40/bbl from $36.
September 8, 2004
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