The Energy Information Administration (EIA) has released its Short-Term Energy Outlook for February 2013. Among other things, it concludes: "Natural gas working inventories reached a record-high level in early November 2012, but ended January 2013 at an estimated 2.7 trillion cubic feet (Tcf), about 0.2 Tcf below the level at the same time the previous year. EIA expects the Henry Hub natural gas spot price, which averaged $2.75 per million British thermal units (MMBtu) in 2012, will average $3.53 per MMBtu in 2013 and $3.84 per MMBtu in 2014."
Read the whole thing.