One of the warmest winters on record in the United States has created a natural gas glut, dragging benchmark gas prices to their lowest levels in three decades and prompting producers, who were pumping at record rates, to scale back drilling activity. The front-month U.S. benchmark price at the Henry Hub settled on Friday at its lowest level since 1995 – except for a few days during peak pandemic in 2020. Record domestic natural gas production has also added to the glut, but now some of the major producers…
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