Market Watch

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April gas futures fell 12.8¢ Monday to $2.088 per million Btu, the lowest settlement for the nearby month since Feb. 21, as weather forecasts moderated over the weekend. Gelber & Associates analysts estimate the latest forecasts, which are more in line with 10-year normal temperatures, ease residential and commercial gas demand by more than 20 billion cubic feet, offset by an 8 Bcf increase in power-sector demand. “There appears to be room to the downside for domestic gas production, but whether the prompt price will push below the $2.00/MMBtu level of support is yet to be seen,” they said, warning that volatility is likely as the April contract approaches its expiry and market participants roll their positions into the May contract.

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