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El Niño pushes real US gas prices to multi-decade low: Kemp
Inflation-adjusted U.S. gas prices have fallen to the lowest level for over 30 years as a mild winter and continued production growth leave the market carrying a growing surplus of inventories. Front-month futures for gas delivered at Henry Hub in Louisiana slumped to $1.58 per million British thermal units on Feb. 15, the lowest in real terms since the futures contract was launched in 1990. Working gas stocks stood at 2,535 billion cubic feet (bcf) on Feb. 9, the highest for the time of year since 2016 and before that 2012, according to data from the U.S. Energy Information Administration (EIA). Inventories were 346 ... (full story)