Canadian Natural Gas Advances on Signs Producers Trimming Output
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Canadian natural gas rose amid signs that producers are drilling less and shutting some wells to ease a glut of the fuel.
Alberta gas for April delivery gained 3 percent. The U.S. gas rig count dropped to 670 last week, a 32-month low, according to data compiled by Baker Hughes Inc. Encana Corp. and Talisman Energy Inc., two of Canada’s largest gas producers, said they will shut some gas production and shift exploration efforts to oil and natural-gas liquids.