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U.S. crude prices were largely range bound in the first three months of 2024 despite rising geopolitical tensions, as non-OPEC members kept up supplies, while a milder winter season and oversupply pushed natural gas prices to a 3-1/2-year low in the quarter. Devon said realized prices, without hedges, for natural gas in the reported quarter was $1.30 per thousand cubic feet (mcf), 43% lower than last year's $2.29 per mcf.

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