If you’re waiting for natural gas prices to recover, you might be in for a considerable wait, as inventories are expected to hover well above their five year average for the remainder of the year, the EIA has forecast, painting a rather sour picture for the industry that has seen investments stifled due to the lower prices. In fact, inventories later this year will reach levels never seen before if forecasts prove accurate. The Nitty Gritty of Nat Gas Supply and Demand According to the Energy Information Administration Short-Term Energy Outlook (STEO), working natural gas in storage in the Lower 48 will end the current heating season—which ends on March 31—at 1,935 billion cubic feet. This is 12% above the previous five-year average. Now, we’re about to head into what the industry refers to as “the refill season”. Normally, the end of the heating season is when inventories are […]