Though retail gas prices at the pump have been coming down over the past three weeks, oil investor T. Boone Pickens (left) says that natural gas and crude oil prices could be higher at year end.
“If you give me a normal winter, I think you will see natural gas at $3.75 at the end of the year,” said Pickens, chairman and CEO of BP Capital, on Bloomberg TV on Monday.
On mid-day Tuesday, natural gas futures were trading at $2.84 per million British thermal units.
As for the direction of Brent crude oil, “I would say at the end of the year, you’re looking at $115 a barrel,” Boone Pickens said.