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Canadian Natural Gas Falls on Chesapeake’s Utica Shale Find

Canadian natural gas fell as a shale gas discovery across more than 1 million acres in Ohio buoyed potential U.S. supplies and depressed export prices of the power-plant fuel.

Canadian gas prices, which usually follow their U.S. counterparts on the New York Mercantile Exchange, dropped 2 percent after Chesapeake Energy Corp. yesterday announced a find in the Utica shale formation that may be valued as much as $20 billion.