Low storage levels underpin bullish gas outlook

Natural gas storage levels in the US lately have ridden the wildest rollercoaster in some years.US gas storage entered the heating season at unusually high levels and is exiting the season at unusually low levels. If many analysts' expectations are fulfilled, the next heating season may begin with storage near record-low levels. Accordingly, the recent retrenchment of gas prices from their dizzying heights of some weeks ago may have already found a floor near $5/Mcf.Energy Security Analysis Inc. notes that storage capacity is near a historically low level of 15% just ahead of the traditional refill season. It remains to be seen, says the Boston energy analyst group, whether the pace o...

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