U.K. Natural Gas Slides After Reaching Four-Year High
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U.K. natural gas for next month trimmed its biggest monthly advance in almost two years as technical indicators showed that the contract rose too fast.
Within-day gas climbed to its highest level since February, according to broker data compiled by Bloomberg, as Statoil ASA cut production at its Norwegian fields. The relative strength index on the month-ahead contract was 83 yesterday. A reading above 70 may indicate that a security is overbought.