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Fed’s Harker says Marcellus natural gas boom likely has peaked

The U.S. natural gas boom centered around the Marcellus shale fields has probably hit a peak for now, Philadelphia Federal Reserve President Patrick Harker said on Thursday.

“The robust natural gas drilling that carried this region through the worst of the Great Recession has likely plateaued in the past few years,” Harker said in prepared remarks to be delivered in Philadelphia.

Harker did not otherwise comment on the outlook for the U.S. economy or monetary policy.

In related news, Natural gas inventories fall short of expectations, but prices rise.

(Reporting by Jason Lange in Washington; Editing by Paul Simao)

This article was from Reuters and was legally licensed through the NewsCred publisher network.