The US gas futures contract for February delivery at Henry Hub clung to the 8 per million Btu mark until it expired last week, insuring that the bidweek prices on which most of the country's baseload supply is priced will remain elevated through the end of this month. One reason is that cold weather across large parts of the US saw draws of gas from storage running at higher-than-average levels in January, raising the possibility that inventories could be below year-ago levels when summer begins.
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