Strong demand and falling inventories have pushed oil prices to their highest level in years, but this could be a double-edged sword as OPEC members grow tempted to cheat. The decline in natural gas storage levels for the week ending on January 5 reached 359 billion cubic feet (bcf), a record high . That broke the previous weekly record of 288 bcf set four years ago during the “Polar Vortex.” – The enormous decline was due mostly to huge consumption levels as the eastern half of the country dealt with a cold snap. But the deep freeze also curtailed gas production, which meant a much lower-than-usual injection of gas into storage. – Gas inventories are now at 2,767 bcf, and storage levels are on track to end the withdrawal season (March) at 1,310 bcf, or significantly […]