AGA: US natural gas prices will jump this winter

The American Gas Association has warned that US consumers could face significantly higher natural gas prices this winter.An AGA report said the price of natural gas in the US spot and futures markets has increased significantly, and because some supplies are being purchased now and stored for winter use, prices will be higher.The report noted several factors behind the higher prices. Low wellhead prices in 1998 and into 1999 reduced drilling for gas, said AGA. And, although rig counts are now above the levels of the same period last year, any additional supplies can't be brought on line in time to impact consumer bills this winter. Click here to enlarge imageAGA said gas storage is s...

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