US gas prices on summer teeter-totter

06/28/2004
The cooling season is upon us with a vengeance. A recent heat wave across the US, in tandem with outages at several nuclear power plants, has helped nudge natural gas spot and futures prices back up.Is that a portent for tighter gas markets the rest of the year? Or does it mask an inherent bearishness in the market?Well, yes, to both questions.That's a flippant way of noting that the US gas market is likely to remain on a price teeter-totter for most of the summer. Transient demand or supply events are likely to spike gas prices up a bit from time to time, but otherwise the underlying market balance suggests downward pressure on gas prices persisting.The good news: No one (no one voca...
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