Elliott Gue - 3.20.08 - The Energy Strategist



Natural gas inventories released today were bullish. The EIA reported a drawdown of 85 billion cubic feet, above analyst expectations and the 5-year average drawdown for this week of about 50 billion cubic feet. Natural gas inventories are now in-line with the five-year average and I suspect we'll undercut that average before the end of March. Gas prices ticked higher intra-day on the news but gas remains lower overall today.

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