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US gas surplus shrinks in wake of winter storm

The deep freeze that engulfed much of the US in February ate into natural gas stockpiles, helping alleviate a glut of the fuel and raising the prospect of higher prices later this year. As much as 338 billion cubic feet of gas was pulled from storage in the week ending Feb. 19, the second-largest withdrawal ever, as gas demand spiked amid frigid weather, the Energy Information Administration said.

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