Natural gas prices firmed with higher demand in April than might have originally been anticipated but with growing storage injections seem to be slipping back toward $4.20 per MMBtu. Commodities markets in general experienced a sell-off in early May and oil and gas were no exceptions.
Gas to power generation and storage working gas inventories relative to the five-year average and last year may be key indicators of market expectations during the next three to five months. Record daily production levels seem to have leveled off and what was a record year for overall natural gas demand in 2010, according to the Energy Information Administration, is being surpassed by about 4.5 percent year-to-date.
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