Natural Gas Gains Most in Three Weeks as Rig Count Declines
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Natural gas futures advanced the most in three weeks as data showed the number of U.S. gas drilling rigs fell for a second consecutive week.
Gas gained 3.3 percent after Houston-based Baker Hughes Inc. said the rig total declined 8 to 866 this week, the lowest level since the week ended Jan. 29, 2010. Prices also rose after gas settled near a six-week low yesterday, spurring buying from traders betting that the market had hit a bottom for now.