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09/11/2000
Market Movement$5/Mcf gas looms as US heat wave hampers gas injectionThe surge in US cooling load demand as temperatures routinely topped 100° F. across much of the Sun Belt last week has weakened natural gas storage injections at a time when the pace of storage refill needs to remain robust if the Nov. 1 heating season onset target of 3 tcf is to be met. This has contributed to natural gas futures prices hovering near $5/Mcf. Click here to enlarge imageUS AGA data show the storage deficit as climbing and not shrinking. Industry injected 52 bcf of gas into storage for the week ended Aug. 25, down from 55 bcf the previous week and 69 and 57 bcf in the comparable weeks of 1999 and 199...
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