Canadian Natural Gas Prices Climb as Price Drop Prompts Buying
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Canadian natural gas for June delivery rose for the first day in five as traders sought bargains and covered bets on earlier declines.
Gas at Canada’s benchmark AECO C hub in Alberta had slipped 6.2 percent since May 16, according to data compiled by Bloomberg. The prospect that prices may have hit bottom probably has some traders covering short positions, or bets on price declines, said Martin King, senior commodities analyst at FirstEnergy Capital Corp. in Calgary.