Natural gas prices are climbing after a steep drop in supplies. But one analyst says bulls are forgetting something: There’s plenty more where that came from. High production is still casting a shadow on the U.S. market, and the days of near-record-low gas prices are not over, says Katherine Spector, head of commodities strategy at CIBC World Markets. The current strength in prices could lead to even more supply down the line, she says. Utility companies have pulled natural gas out of storage at high rates this winter to meet indoor heating demand. In the week ended Jan. 10 – when record-cold temperatures swept the Midwest and East Coast – 287 billion cubic feet of natural gas were withdrawn from storage, according to the Energy Information Administration. That’s the largest storage withdrawal on record – and the second largest, 285 bcf, occurred last month. Suddenly, market […]