Bank cuts 12% off 2012 US gas price forecast, supply overwhelming demand
Washington (Platts)
Investment bank Raymond James’ top natural gas analyst sliced 12% off his 2012 natural gas price forecast Monday, saying growing supplies will smother anemic demand and prices will have to go below $3/Mcf in the summer to avoid overwhelming storage capacity.
Raymond James slashed its previous $4/Mcf forecast by 50-cents to $3.50/Mcf, and predicted prices could drop below $3/Mcf this summer as storage fills. This is the second time in two months Raymond James has