Commodities Buzz: EIA Ups WTI Oil, Natural-Gas Price Forecasts

Energy.....

 The U.S. Energy Information Administration on Tuesday raised its West Texas Intermediate crude-oil and natural-gas price forecasts for this year, from its March estimates. WTI crude-oil prices are likely to average $94 in 2013, the EIA said in its short-term energy outlook report. In March, it forecast an average of $92 in for 2013. The EIA also expects natural-gas spot prices to average $3.52 per million British thermal units this year, up from a previous estimate of $3.41. For 2014, however, it forecast $3.60 per million Btus, down from $3.63 in the March report. Regular U.S. retail gasoline prices were to average $3.56 a gallon this year, up a penny from the March estimate of $3.55.
Source by Commodity Insights