U.S. March natgas opens above $6 for the first time since 2010
* More winter weather expected for large parts of U.S.
* End-March storage to come in at 1.1 tcf - Morgan Stanley
Feb 20 (Reuters) - U.S. month-ahead natural gas futures
opened above $6 per million British thermal units (mmBtu) for
the first time since September 2010 as cold weather has depleted
inventories, and analysts expect prices to remain volatile into
the spring season.
U.S. March gas futures contracts opened at $6.095 per mmBtu
on Thursday and rose to $6.19 per mmBtu by 1000 GMT (0500 EST).
"Near record cold weather has left a large inventory hole to
fill. Weather forecasts will cause price volatility through
March," Morgan Stanley said on Thursday in a research note.
The bank added that it expected end-March storage to come in
at 1.1 trillion cubic feet (tcf), the lowest since 2004.
Some analysts have said the U.S. gas market will struggle to
refill gas storage sites ahead of next winter, but Morgan
Stanley said an expected production growth of 2.4 billion cubic
feet per day compared with the previous year would help