Federal agency expects natural gas prices to improve this year

An historic low in natural gas prices should ease over the next two years as the surge in U.S. production begins to taper off, reports FuelFix.com. Citing a new report from the U.S. Energy Information Administration (EIA), the news site says federal analysts predict natural gas prices will average $2.65 per MMBtu in 2016 and $3.22 in 2017 following a December 2015 average of $1.93 for the Henry Hub benchmark. EIA expects U.S. gas production to grow only 0.7 percent this year compared to a 6 percent growth rate in 2015 and the demand for natural gas to increase. For more, read the full story. The EIA report can be found here.