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April gas futures plunged 43.7¢ Monday to $2.572 per million Btu as moderating weather forecasts took the steam out of last week’s rally. On Friday, the front-month contract settled above $3 for the first time since Jan. 27, but the latest weather forecasts lower the 15-day demand outlook by 43.7 billion cubic feet, according to Gelber & Associates analysts. Although the market holds a positive view of plans by some producers to drop rigs in response to low prices, a reduction in drilling isn't likely to address the near-term supply glut.

Gas Demand, Gas Inventories, Gas Supply, Gas Prices, Gas Pipelines
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