Gas at uncomfortable levels As we head into October, hurricane season has been a nonevent from a supply standpoint and natural gas inventories arc 10% higher than the five-year average. As a result, prices have collapsed since mid August. And we can still look forward to the cyclical low. "We should still be headed lower," says dan Hazelcom, trader at Gxjuest Inc. and the evidence is in the spreads. "You still have a dollarplus spread in your Nov.-Dec., and that just tells you it's a deterioiating market." During October, he says November natural gas will trade as low as $5.40 per MMBtu, with an upside potential of $7.20. "You have to he a bear unless we have weather or service interruptions."
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