US natural gas likely will feel modest upward pressure this summer from levels a year earlier when Henry Hub prices averaged $3.77/MMbtu, the Natural Gas Supply Association said in its 2014 Outlook for Summer Gas , released June 4. The upward gas price pressure is from summer to summer and does not include data on winter prices, the industry organization said. Using published data and independent analyses, it evaluated the combined impact of weather, the general economy, customer demand, production activity, and storage inventories on the direction of gas prices for the coming summer, it said. “When NGSA weighed all the different factors, the picture that emerged for this summer is one of slightly increased pressure on gas prices, chiefly because of the need to inject a greater than average amount of gas into storage in the wake of an extreme winter,” NGSA Chairman Gregory M. Vesey said. […]