Mumbai, March 10 -- Natural Gas futures spiked today, adding to recent gains. Prices are soaring as US natural gas stocks remain in deficit against a year ago and the five-year average, raising expectations of strong refill demand over the summer. The commodity soared despite milder weather outlook as a break above $4 per mmbtu extended and pushed up the benchmark futures towards a 25-month high of $4.90 per mmbtu. The commodity currently trades at $4.61 per mmbtu, up around 5% on the day. Meanwhile, the total number of active drilling rigs for oil and gas in the United States continued to fall last week, according to new data that Baker Hughes published on Friday, after a 1-rig increase in the week prior. The number of oil rigs stayed the ...
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