Title: Monthly Gas Briefing: A Shift Toward Winter 	
URL(s):	

http://www20.cera.com/eprofile?u=35&m=2748;


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NATURAL GAS PRICES REBOUND AS HEATING SEASON APPROACHES

Despite high storage levels, with heating season coming, the Henry Hub cash 
market has bounced back from early October lows to levels near $2.40 per MMBtu. 
However, weak market fundamentals, including a sluggish economy and increased 
US and Canadian supplies, will mitigate the usual winter price rise. CERA 
expects an average Henry Hub price of $2.35 in November.

*  Although inventories are close to record levels, storage pressures are 
increasingly unlikely to drive cash markets down significantly this year. 

*  Gas demand will average 14 percent lower than a year earlier; residential 
and commercial sectors show a decline with a return to normal weather, while a 
weak economy offsets the return of ammonia and dual-fuel loads in the 
industrial sector.

*  Regional storage inventories and weak regional demand should keep upward 
pressure off of regional differentials. The Northeast examines security issues 
around LNG shipments.

**end**

Follow above URL for complete report (6 printed pages). 






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


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