US gas price floor of $5/Mcf here to stay?

Has the $5/Mcf US natural gas price floor threshold been crossed once and for all?Some market-watchers see another price cycle looming on the horizon, beginning this year. No one is predicting another price collapse, or that even $3/Mcf is in the offing. But some analysts see ample storage and dwindling demand pulling prices back down to $4-4.50/Mcf in 2004-05. And yet a contrarian view holds that gas markets have accepted a $5/Mcf gas price floor through at least the midterm.Price downturn?The recent runup in US spot and futures gas prices reflects the waves of bitter cold that have swept across most of the northern half of the nation in December and January. Including the week ended Jan...

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