OGJ Newsletter

Market MovementBull and bear signs abound for natural gasThere are both bullish and bearish indicators for the US natural gas market, Lehman Bros. Inc., New York, recently reported.Among the bullish indicators cited by the financial investment firm: US natural gas production is falling, down at least 3% during the first quarter of this year and likely to drop by 5% for the year. Canadian gas production is increasing more slowly, up 2% through April compared with 3.3% a year ago. Oil prices remain relatively high, despite recent declines, so residual oil isn't competing with natural gas. Bear signsOn the bearish side, Lehman Bros. analysts noted: US gas storage is high, with working in...

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