Some of the country’s largest natural gas producers are tearing up their drilling plans, relenting to prices for the fuel that have fallen to their lowest summer level in two decades.
Natural gas prices typically move higher in the heat of the summer, as demand from electricity plants surges to power air conditioners. This month’s heat wave in the Eastern U.S. has generated record consumption at power plants, yet natural gas prices have continued to slide due to bountiful supplies.
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