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Forecast: Oil Lower Natural Gas Higher

The U.S. Energy Information Administration is forecasting the price of fuel oil will be less this winter than last, and the price of natural gas will be more.  http://www.eia.gov/

One reason we might see lower prices is the growing production of crude oil which is at its highest level in more than 20 years.  Whereas the EIA is predicting the price of natural gas is expected to increase more than 15% this winter seeing that the Marcellus drilling project can’t continue to sustain at current levels. http://marcellusdrilling.com/

Remember, heating oil packs 40% more BTU’s per gallon than natural gas.

 

 

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