2003 gas market a replay of 2001—sans the bust

Just as oil markets may relive 1991 in the weeks to come, anyone who remembers the US natural gas market of the 2000-01 winter may feel a sense of déjà vu this year.According to the latest natural gas storage capacity projections by Energy Security Analysis Inc., US storage levels at the end of the winter heating season could drop to as low as 19%. That's the same bullish level seen in spring 2001, notes the Boston-based consulting group. "Over the last 2 months, stormy and frigid weather in the central and eastern parts of the country have significantly increased residential and commercial gas-heating demand, as well as electric-heating demand that is fueled by gas-fired po...

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