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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: Frank who wrote (20260)3/14/2003 12:16:38 PM
From: Tomas  Read Replies (2) of 206184
 
UBS Raises 2003 U.S. Natural Gas Forecast to $5 Per Mln Btu
By Margot Habiby

New York, March 14 (Bloomberg) -- UBS AG, Switzerland's biggest bank, raised its 2003 composite U.S. natural-gas price forecast to $5 per million British thermal units from $4, citing low storage levels and robust demand.

UBS also boosted its 2004 natural-gas price forecast by 6.7 percent to $4 per million Btu from $3.75, according to the report by analyst Matthew Warburton and associates Kevin Anderson and Alex Xu.

U.S. natural-gas inventories declined 14 percent last week to 721 billion cubic feet, the U.S. Department of Energy said yesterday. The record low for inventories is 697 billion cubic feet, set in 1996. Gas storage owners have said they may have inadequate supplies by next winter if stocks fall too low this month.

``Natural gas producers are fighting ever-increasing production declines and falling wellhead deliverability,'' the report said.
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