Only hot weather can dispel gas price gloom

07/22/2002
Natural gas prices in the US have reached a 4-month low as of this writing, and the gloom seems to be settling in for the industry.The main cause of that gloom is the focus on storage data, which don't look promising for the second half. Although the cooling season has been warmer than normal to date, slowing down the pace of injection into storage a bit, it has not been enough to quell mounting concerns over a burgeoning storage surplus.At last report, the year-over-year storage surplus fell to 379 bcf from 419 bcf (revised) the week before and 450 bcf the week prior to that.However, if historic injection patterns hold, the size of declines in the storage surplus in the weeks to come...
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