Gas market still recouping production loss from Ivan

11/15/2004
The US natural gas market is still recovering from Gulf of Mexico production losses caused by Hurricane Ivan in September, but above-normal temperatures in September and October and inventories at a 13-year peak are offsetting the effect, government and private forecasters say.Storage at the start of the heating season has reached its highest level since 1991, the US Energy Information Administration reported Nov. 9. Working gas in storage, estimated at 3.505 tcf, is 6% higher than a year ago and 9% above the 5-year average, EIA said in its latest short-term energy outlook.The loss of production in the gulf did drive gas prices up in October. But the Henry Hub spot gas price fell by $1.03...
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