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Natural gas enjoyed a nice late-day pop Tuesday after the U.S. EIA cut its 2012 production...

Natural gas enjoyed a nice late-day pop Tuesday after the U.S. EIA cut its 2012 production outlook while dramatically increasing its demand forecast. The agency now sees 2012 natural gas production increasing by 2.9bcf per day, or 4.4%, to 69.14bcf per day. That's still a record, but it's also below its April forecast of 69.22bcf.
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Comments (3)
  • westelk
    , contributor
    Comments (324) | Send Message
     
    "dramatically increasing it demand forecast" based on what? Peakers running wild all summer long? Given the amount of error in most EIA forecasts, more information is needed.

     

    Another example of trader mentality--broadcast headlines without no background.
    8 May 2012, 04:31 PM Reply Like
  • NatGasMaverick
    , contributor
    Comments (521) | Send Message
     
    ...based on my projected June-Aug electricity bills.
    8 May 2012, 04:48 PM Reply Like
  • 153972
    , contributor
    Comments (861) | Send Message
     
    EIA cannot accurately forecast so why do traders continually go long or short based upon it?
    8 May 2012, 09:08 PM Reply Like
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