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NEW YORK » The price of natural gas has fallen to its lowest level in more than a decade, a remarkable decline for a commodity that not long ago was believed to be in short supply.
The country’s supply of natural gas is growing so fast that analysts worry the country’s underground storage facilities could be full by fall.
On Wednesday the futures price of natural gas dropped to $1.984 per 1,000 cubic feet, the lowest level since Jan. 28, 2002, when the price hit $1.91.
If the price falls to $1.75, it will be the lowest since March 23, 1999.