-----Original Message-----
From: webmaster@cera.com [mailto:webmaster@cera.com]
Sent: Wednesday, January 16, 2002 9:04 PM
To: clients@cera.com
Subject: Gas Prices Continue Downward Drift - CERA Monthly Briefing 



Title: Searching for the Bottom 	
URL(s):	

http://www.cera.com/eprofile?u=35&m=2929;


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GAS PRICES CONTINUE DOWNWARD DRIFT--HIGH STORAGE, LOW DEMAND

While warm weather keeps heating loads low, the key driver in natural gas 
markets continues to be the looming storage surplus. Weather may provide some 
short-lived price spikes in February, but until real evidence of the 
anticipated decline in US supply appears, prices will feel continued downward 
pressure from record-high storage inventories. The projected February average 
price is $2.10 per MMBtu at the Henry Hub.

* March storage inventories will end at record high levels. Ample gas remains 
to keep prices low until a rebounding economy and declining supplies can 
provide a lift.

* With return to a normal weather, strong industrial loads will boost overall 
gas demand slightly over last year's levels.

* Diminishing weather-related support and high western storage inventories will 
drive widening discounts to the Henry Hub in the western producing areas, while 
weak demand and high storage will limit premiums in the East.

**end**

Follow above ULR for complete CERA Monthly Briefing (7 printed pages).

E-mail Category: Monthly Briefing                                  
CERA Knowledge Area(s): North American Gas



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