Marcellus gas glutting market, capping prices

摘要

Washington—Two industry analysts Thursday reduced their expectations for US natural gas prices, with both saying production from the Marcellus Shale was glutting an already crowded market. “The Marcellus is a monster and production keeps on growing,” Bank of America’s commodities team said in a note to clients. “We believe it may now be hard for US natural gas prices to push much higher than the current $3.90/ MMBtu in [2014], and see some downside risks to our $4.20/MMBtu for next year.”