The coldest winter since 1977 in the US has made natural gas analysts and investors more bullish about gas prices in 2014. Bank of America’s commodities team raised its average price forecast for 2014 by 50 cents to $4.40/MMBtu Thursday and predicted storage would end the injection season at 3.46 Tcf, 14 Bcf shy of the 3.6 Tcf benchmark. “Given the unexpectedly strong first quarter, we [are raising] our average price forecast for 2014 from $3.90 to $4.40/MMBtu,” the analyst said. “We do not see a major acceleration in gas output despite higher prices, we now project $4.40/MMBtu in 2015 as well, two dimes above the current forward” curve. Article continues below… Request a free trial of: Gas Daily Gas Daily offers the most detailed coverage of natural gas prices at interstate and intrastate pipeline and pooling points in major U.S. markets. Gas Daily […]