DJ Jefferies Cuts Natural-Gas Price Forecast -- Market Talk
10:19 EDT - Jefferies cuts its price outlook for natural gas, citing resilient production and lower export
expectations. This year's view falls to $3/MMBtu from $3.50 while 2016's forecast drops 25c to $4. US output has held
near all-time highs despite a record-low number of working gas-drilling rigs. Jefferies ultimately favors a strong
price rebound because production growth will have to slow down while new pipelines get built and because demand for
gas-fired power will increase. Nymex July natural gas is down 1.7% at $2.709; the commodity has slumped 36% the past
year. (tim.puko@wsj.com)
(END) Dow Jones Newswires
July 07, 2015 10:19 ET (14:19 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
070715 14:19 -- GMT
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