Natural Gas Rises to 10-Month High as Power Plants Buoy Demand
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Natural gas advanced to a 10-month high in New York on speculation that above-normal demand from electricity generators will help reduce a supply surplus.
Gas rose 0.8 percent after an Energy Department report yesterday showed inventories expanded by 51 billion cubic feet, less than the five-year average gain of 71 billion for the week. Supplies climbed 106 billion a year earlier. Power plants are burning record amounts of the fuel this year as seasonal prices near decade lows prompted switching from coal.