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Strategies & Market Trends : Commodities - The Coming Bull Market -- Ignore unavailable to you. Want to Upgrade?

To: craig crawford who wrote (444)	7/6/2001 12:59:33 PM
From: craig crawford	Read Replies (2) \| Respond to of 1643

Store This: Natural Gas Under Siege thestreet.com By Christopher Edmonds Special to TheStreet.com 7/6/01 9:20 AM ET WASHINGTON -- The natural gas story continues to worsen. Just when the summer cooling season should begin to have a meaningful impact on natural gas demand, gas inventories continue to build. The American Gas Association reported late Thursday that natural gas inventories grew by 105 billion cubic feet for the week ended June 29. That's 39% above the five-year average of 76 billion cubic feet and 11% above the consensus estimate of 95 billion cubic feet. At 1,822 billion cubic feet, or 55% of capacity, domestic storage is now 124 billion cubic feet higher than it was a year ago. Total additions to storage since March 30 equal 1,195 billion cubic feet; that's nearly double the 605 billion cubic feet injected during the same period last year. While those data alone don't bode well for natural gas prices or for companies whose profits are tied to natural gas, a deeper look suggests the above-average storage casts even greater doubt on demand for natural gas.