Tags: Grisanti | natural | gas | over

GRZ Energy’s Grisanti: ‘It's Over for Natural Gas'

Thursday, 10 Jan 2013 08:32 AM

By Michael Kling

Share:
A    A   |
   Email Us   |
   Print   |
   Forward Article  |
  Copy Shortlink
Natural gas prices will continue to fall, according to Anthony Grisanti, founder and president of GRZ Energy.

A warm winter that's suppressing demand is the main culprit, and forecasters expect temperatures in the Northeast for the next three weeks to be above average.

"As we find ourselves deep into the winter, it is becoming increasingly clear that we are not getting the cold weather and the demand that comes with it to push natural gas higher," Grisanti writes in an article for CNBC.

Editor's Note:
How to Pay Zero Taxes . . . Legally

Investors can't look to political turbulence overseas to boost prices.

"Natural gas is not affected by geopolitics, it is a domestic market," Grisanti points out. "We cannot export at this time significant amounts, so whatever is produced, and its more every day, stays here."

That's why Grisanti says he advises selling in rallies. "If it rises to 330-335 sell it. And look for 285."

Although most observers see warm weather and strong supply pushing natural gas prices down this season, the U.S. Energy Information Administration predicts prices will turn around over the next two years, according to the Pittsburgh Post-Gazette.

Marcellus Shale drillers have cut back production in response to record-low prices that have made drilling unprofitable in some instances, the Post-Gazette reports, citing an agency report.

The average price of natural gas will jump to $3.74 per mill British thermal units this year, compared with $2.75 last year, the agency predicts. Prices will continue rising to $3.90 in 2014.

Editor's Note: How to Pay Zero Taxes . . . Legally

© 2014 Moneynews. All rights reserved.

Share:
   Email Us   |
   Print   |
   Forward Article  |
  Copy Shortlink
Around the Web
Join the Newsmax Community
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
 
You May Also Like
Around the Web

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved