Last year's harsh winter and big drawdowns on natural gas inventories in North America stirred some long-awaited optimism for western Canada's beleaguered gas producers. Henry Hub prices south of the border averaged $4.81 per million British thermal units in the first half of 2014, the highest level since 2008 and almost a dollar higher than the average for the last five years. At the end of the winter heating season, gas storage in the United States was half of normal levels.
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